PURPOSE: This rule prescribes policies and procedures applicable to filings for the exemption of bank, savings institution or trust company securities.

1. (1) Any request filed with respect to the availability of the exemption specified in section 409.402(a)(3) of the Missouri Uniform Securities Act (the Act) shall be accompanied by documentation establishing that the issuer or guarantor is organized and supervised under the laws of the state concerned.
2. (2) Any security issued by and representing an interest in or a debt of, or guaranteed by any branch or agency of a foreign bank located in the United States qualifies for the exemption specified in section 409.402(a)(3) of the Act provided that the nature and extent of federal and state regulation and supervision of the branch or agency is substantially equivalent to that applicable to federal and state-chartered domestic banks doing business in that jurisdiction.

AUTHORITY: sections 409.402(a)(3) and 409.413(a), RSMo 1986.* Original rule filed July 21, 1972, effective Aug. 1, 1972. Amended: Filed March 21, 1974, effective April 1, 1974. Amended: Filed Nov. 15, 1974, effective Nov. 25, 1974. Amended: Filed March 27, 1989, effective June 12, 1989.

*Original authority: 409.402(a)(3), RSMo 1967, amended 1977, 1978, 1986 and 409.413(a), RSMo 1967.