Mo. Code Regs. Ann. tit. 15, § 30-52.100
Impoundment
Effective Nov 25, 1974sections 409.305(f) and 409.413(a), RSMo (1986).* Original rule filed June 25, 1968, effective Aug. 1, 1968. Amended: Filed May 21, 1969, effective Aug. 1, 1969. Amended: Filed July 21, 1972, effective Aug. 1, 1972. Amended: Filed Nov. 15, 1974, effective Nov. 25, 1974. *Original authority: 409.305(f), RSMo (1967), amended 1977, 1978, 1980, 1986 and 409.413, RSMo (1967)Secretary of State
PURPOSE: This rule prescribes procedures for the impoundment of the proceeds from the sale of registered securities.
(1) Proceeds from the sale of registered securities which are required to be impounded (section 409.305(f)(2), RSMo) shall ordinarily be impounded in accordance with the following provisions:
- (A) An impoundment depository may be a bank or trust company or other person satisfactory to the commissioner;
- (B) The impoundment shall be covered by agreement which shall be executed subject to the written approval of the commissioner, in substantially the format and in accordance with the terms as the commissioner may determine; and
- (C) The form of impoundment agreement may be obtained from the commissioner upon request. A sample form follows 15 CSR 30- 52.250.
AUTHORITY: sections 409.305(f) and 409.413(a), RSMo (1986).* Original rule filed June 25, 1968, effective Aug. 1, 1968. Amended: Filed May 21, 1969, effective Aug. 1, 1969. Amended: Filed July 21, 1972, effective Aug. 1, 1972. Amended: Filed Nov. 15, 1974, effective Nov. 25, 1974. *Original authority: 409.305(f), RSMo (1967), amended 1977, 1978, 1980, 1986 and 409.413, RSMo (1967).