PURPOSE: A foreign service corporation, chartered by another state, shall obtain approval of the director prior to commencing business in the state of Missouri and shall agree to be subject to examination by the Division of Finance.

1. (1) A foreign service corporation, for purposes of this regulation, shall include any corporation incorporated in a state other than Missouri, more than half of whose stock is 20 CSR 1140-23

owned, directly or indirectly, by one (1) or more savings and loan associations.

1. (2) A corporation which desires to conduct the business of a foreign service corporation in Missouri shall first obtain the approval of the director. Application for such approval shall be in the form required by the director. An application fee of one hundred dollars ($100), made payable to the director of revenue, shall accompany any application for approval filed with the director. Such application fee will be processed only if approval is granted by the director.
2. (3) The corporation shall be subject to examination by the Division of Finance. As a condition of the approval required, the corporation shall execute and file with the director a written agreement that the corporation will permit and pay the cost of such examination of the corporation by the office of the state director as the office of the state director from time-to-time considers necessary. The purpose of such examination shall be to determine whether the corporation is complying with the laws and regulations of the state of Missouri.

AUTHORITY: section 369.299, RSMo 1994.* This rule originally filed as 4 CSR 260- 11.020. This rule previously filed as 4 CSR 140-23.020. Original rule filed Nov. 16, 1973, effective Nov. 26, 1973. Amended: Filed Nov. 4, 1986, effective Jan. 30, 1987. Changed to 4 CSR 140-23.020, effective July 6, 1994. Amended: Filed Nov. 8, 1994, effective March 30, 1995. Moved to 20 CSR 1140- 23.020, effective Aug. 28, 2006.

*Original authority: 369.299, RSMo 1971, amended 1994.