367.130. Bond--amount--conditions--additional bond, when.
Bond--amount--conditions--additional bond, when.
367.130. The director may require the lender to file withthe director a bond in the principal amount of one thousanddollars at the time of filing the application for a certificateof registration hereunder, or at such later time as the directordeems necessary for the purposes of sections 367.100 to 367.200.The lender shall be the obligor, and the surety shall be approvedby the director. The bond shall run to the state of Missouri forthe use of the state or any person or persons who may have acause of action against the lender-obligor arising out of thesupervised business. The condition of the bond shall be that thelender-obligor will conform to and abide by the provisions ofsections 367.100 to 367.200 and the laws of the state of Missourirelating to consumer credit loans, and the assignment or sale ofwages, salaries, or other compensation, and will pay to the stateand to any person any and all moneys that may become due undersections 367.100 to 367.200 or under any transaction which is apart of the supervised business. If in the opinion of thedirector the bond shall at any time appear to be insecure orexhausted or otherwise doubtful an additional bond in theprincipal sum of not more than one thousand dollars in form andwith surety satisfactory to the director, shall be filed withinfifteen days after notice of the requirement thereof be given tothe lender by the director.
(L. 1951 p. 262 § 4)