State revokes AAAA Aces' license

The Missouri Department of Insurance announced the license revocation of AAAA Aces Bonding Co. Inc. for actions occurring between October 2003 and November 2004. The company’s license was cancelled at its own request Oct. 14, 2004. AAAA Aces has been out of business for more than a year.

The department in August filed a complaint with the Administrative Hearing Commission, which held a hearing in February and issued a disciplinary report April 19.

The report states that AAAA Aces failed to remit bond amounts to courts when a number of individuals did not appear for their established court dates. State law dictates that, if an individual does not appear in court, his or her entire bond amount becomes immediately due.

The department’s decision to pursue license revocation despite the company’s cancelled license was made, essentially, to set a precedent, said Matt Barton, public information officer for the department.

“If (a company) feels like they’re going to be in trouble for doing something, they can’t just go in and cancel their license – that would take away all of our enforcement procedures,” he said.

Barton said the license revocation does not prevent AAAA Aces from filing for another license, but the revocation will be on record at the time of reapplication and for all jurisdictions to view.