Applicants to be a leasing or rental company shall post a bond or irrevocable letter of credit with the state in the sum of $100,000, which shall be conditioned upon the entity complying with the laws applicable to leasing or rental companies, and shall be an indemnity for any loss caused by actions that are grounds for actions against the entity's license. Proceeds shall be paid from the bond or irrevocable letter of credit upon receipt by the Department of a final judgment of a Missouri court of competent jurisdiction against the bonded entity. (Section 144.070.6)

The act provides that entities engaged in the business of renting or leasing 3500 or more motor vehicles that are to be used exclusively for rental and leasing, and not for resale, and which have applied to the Department for a license as specified in the act may also operate as a registered fleet owner as specified by law. (Section 144.070.9)

Entities engaged in the business of renting or leasing 3500 or more motor vehicles that are to be used exclusively for rental and leasing and not for resale, and which have applied to the Department for a license as specified in the act may operate as a registered fleet owner as provided by law. The Director of Revenue may issue fleet vehicle license plates in lieu of standard vehicle registrations after application and payment of annual fees of $360 for the first 10 plates and $36 for each additional plate. Fleet vehicles registered under the act shall not be exempted from safety or emissions inspections, but the inspections shall not be required to be presented to the Director. (Section 301.032.6)

Vehicle rental or leasing companies licensed by the Department under the act operating as registered fleet owners shall annually or biennially register their fleets with the Director of Revenue as specified in the act in lieu of registering the vehicles individually. (Section 301.032.7)

Applicants shall provide proof of insurance coverage, as required by law, prior to issuance of fleet vehicle license plates by the Director. (Section 301.032.8)

Authority to operate as a fleet owner shall expire on January 1 of each licensure period for entities licensed under the act to operate as vehicle rental or leasing companies. (Section 301.032.9)

Vehicle rental or leasing companies licensed by the Department under the act shall make available upon request by the Director or any law enforcement agency any corresponding vehicle or registration information that is requested as prescribed by rule. (Section 301.032.10)

These provisions are identical to provisions in the truly agreed to and finally passed CCS#2/HCS/SCS/SB 147 (2019), provisions in the truly agreed to and finally passed CCS/SB 368 (2019), provisions in the truly agreed to and finally passed SCS/SB 89 (2019), provisions in HCS/SB 371, and is similar to SB 505 (2019).

ERIC VANDER WEERD