1. A notary commission shall not become effective until an oath of office and a ten thousand dollar bond have been presented to the county clerk of the county in which a person has been commissioned. The bond shall be executed by a licensed Missouri surety, for a term of four years commencing on the commission's issue date and terminating on its expiration date, with payment of bond funds to any person conditioned upon the notary's official misconduct.
2. The surety for a notary bond shall report all claims against the bond to the secretary.
3. If a notary bond has been exhausted by claims paid out by the surety, the secretary shall suspend the notary's commission until:
(1) A new bond is obtained by the notary; and
(2) The notary's fitness to serve the remainder of the commission term is determined by the secretary.