PURPOSE: This regulation establishes the guidelines for a foreign association to transact business within the state of Missouri.

1. (1) Definitions. The words and terms shown as follows when used in this regulation shall have the following meaning:

   1. (A) Foreign association shall mean any federally-chartered or state-chartered association with its principal office located outside Missouri; and
   2. (B) Transact business shall mean transacting the business of a savings and loan association, but shall not include the activities set forth in section 362.423, RSMo or permissible conduct authorized by 4 CSR 140- 25.020.

2. (2) A foreign association may transact business in this state only with prior written approval of the director. In applying for approval, a foreign association shall submit the following to the director:

   1. (A) A written application on a branch application form that may be obtained from the division;
   2. (B) Written documentation indicating that the applicant has received authority from its regulatory agency to transact business in Missouri;
   3. (C) A certified copy of its Articles of Incorporation or charter and bylaws;
   4. (D) A certified copy of a Certificate of Good Standing from the secretary of state or similar office in the foreign association’s home state;
   5. (E) A certified copy of a Certificate to do Business in Missouri as a Foreign Corporation from the Missouri secretary of state;
   6. (F) An estimate of the number of personnel to be employed at the proposed business location(s); and
   7. (G) Any additional information the director may in his/her discretion require.
3. (3) An application fee of two hundred fifty dollars ($250) must accompany any application under this regulation. This fee shall be made payable to the director of revenue and 20 CSR 1140-26

will be processed only if the application is approved by the director. No application shall be approved if, in the opinion of the director or a majority of the members of the State Savings and Loan Commission on appeal, the policies, condition or operation of the applicant afford a basis for supervisory objection to the application. The director may hold a hearing at his/her discretion on the application in accordance with such procedures as s/he may require.

1. (4) No foreign association shall be authorized to transact business in this state unless its home state shall allow Missouri-chartered associations to transact business of substantially the same type in that state.

2. (5) A foreign association authorized to transact business in the state of Missouri shall be subject to the following:

   1. (A) All rules applicable to Missouri chartered associations;
   2. (B) Permit and pay the costs of such examinations as the director from time-to-time deems necessary; and
   3. (C) Any further requirements or restrictions imposed by its state on Missouri-chartered associations as a condition of doing business in that state.
3. (6) This regulation does not apply to the activities authorized by section 369.361, RSMo.

AUTHORITY: sections 369.299 and 369.359, RSMo 1994.* This rule originally filed as 4 CSR 260-14.011. This rule previously filed as 4 CSR 140-26.011. Original rule filed Nov. 4, 1986, effective Jan. 30, 1987. Amended: Filed Dec. 1, 1988, effective Feb. 15, 1989. Changed to 4 CSR 140-26.011, effective July 6, 1994. Amended: Filed Nov. 8, 1994, effective March 30, 1995. Moved to 20 CSR 1140- 26.011, effective Aug. 28, 2006.

*Original authority: 369.299, RSMo 1971, amended 1994 and 369.359, RSMo 1971, amended 1986, 1994. FINANCIAL INSTITUTIONS AND PROFESSIONAL REGISTRATION Division 1140—Division of Finance FINANCIAL INSTITUTIONS AND PROFESSIONAL REGISTRATION Division 1140—Division of Finance