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- Missouri Notary Notary Fees and Bond Questions and Answers Flashcards

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  1. What happens if a claim is made against a Missouri notary's surety bond?

    Answer: The surety company investigates and may pay the claim, then seek reimbursement from the notary

    When a claim is filed against a notary's bond, the surety company investigates and may pay valid claims. The surety then has the right to seek reimbursement from the notary.

  2. Does a Missouri notary's surety bond provide the same protection as errors and omissions (E&O) insurance?

    Answer: No — the bond protects the public while E&O insurance protects the notary

    A surety bond and E&O insurance serve different purposes: the bond protects the public from notary misconduct, while E&O insurance protects the notary from liability for honest mistakes.

  3. A Missouri notary who is an employee is asked to charge fees for notarizations done at work. What should they consider?

    Answer: They should check their employer's policy, as many employers do not allow employees to charge personal notary fees

    Many employers have policies about notary fees. Some employers pay for the notary commission and expect the employee to provide free notarization services as part of their job duties.

  4. What is the difference between the bond amount and the bond premium for a Missouri notary?

    Answer: The bond amount is the maximum coverage ($10,000); the premium is the annual cost paid to maintain the bond

    The bond amount ($10,000) is the maximum that can be paid on a claim, while the premium is the much smaller annual cost the notary pays to maintain the bond coverage.

  5. Can a Missouri notary refuse to notarize a document because the signer cannot pay the fee?

    Answer: No — a notary should not refuse solely based on inability to pay; they may waive the fee

    While notaries may charge fees, refusing service solely because someone cannot pay is generally not recommended. Notaries have the option to waive fees.

  6. What should a Missouri notary do if they discover their surety bond has expired?

    Answer: Immediately stop performing notarial acts and renew the bond before resuming

    A notary whose bond has expired must immediately stop performing notarial acts because a valid bond is required to maintain their commission authority.