Missouri Receiver Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Purpose
Receivers are appointed to oversee the day-to-day affairs of a business entity which is in dissolution, reorganization, or in some other form of a bankruptcy proceeding.
In Missouri, Rule 68.02 of the state’s statutes lists the duties of receivers. These responsibilities include:
- The preservation and protection of any business interests or properties;
- This includes both money and real property.
The purpose of the surety bond, according to the same statute, is to serve as a financial guarantee of your compliance with the appointment according to state law.
There is no preset amount for the bond. The amount required of you as a condition of appointment is at the discretion of the presiding judge.
Qualifying and the Premium
Our agency offers you the Missouri receiver bond in the amount that the Court requires of you.
Up to a $250,000 requirement, we also do so without a credit check inquiry. What this means for you is that you will be approved upon submitting the requested documents.
Amounts greater than $250,000 must first receive underwriter approval. As part of this process, a credit check is included.
For amounts greater than $250,000, good credit is required for approval.
Regardless of your Missouri receiver bond, our agency will need the following from you:
- A copy of the court order stating that a Missouri receiver surety bond is required. This order has additional significance, because it provides with us practically all of the information to be included on your surety bond (i.e. parties to case, Court name, case number, etc.);
- A completed, signed, and witnessed surety bond application. We can begin the application with you by phone, but you’ll need to print it out and complete it before scanning it back to our agency. While your application needs to be witnessed by someone other than the signer, it does not need to be notarized;
- Upon approval of your application, payment of at least the first annual premium, which is earned in full.
Once your first annual premium payment is received, our agency issues your bond to you immediately for filing.
We will sign your bond as Surety; and you, upon receipt of your bond (and Power of Attorney form) by mail, will sign it as Principal.
You’ll then file all completed documents with the court clerk.
Annual Renewal of the Premium
The premium associated with your Missouri receiver bond is not a onetime payment but renews annually for as long as the court requires surety.
As a broad general rule we advise you to prepare to pay the premium twice: Once upon issuance of your bond, and one year later at the annual renewal.
Options also exist to prepay your bond for 2 or 3 years which offers you a savings over annual renewals; however, premiums, when paid, are earned in full.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, Court, probate, and other surety bonds in Missouri and all 50 states.
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