Mo. Code Regs. Ann. tit. 20, § 1140-30.120
Exemption Guidelines
Effective Aug 28, 2006sections 443.847, 443.869(7) and 443.887, RSMo Supp. 1996.* This rule originally filed as 4 CSR 140-30.120. Emergency rule filed Nov. 25, 1996, effective Dec. 5, 1996, expired June 2, 1997. Original rule filed Nov. 25, 1996, effective May 30, 1997. Moved to 20 CSR 1140-30.120, effective Aug. 28, 2006. *Original authority: 443.847, RSMo 1994, amended 1995; 443.869(7), RSMo 1994, amended 1995; and 443.887, RSMo 1994, amended 1995Division of Finance
PURPOSE: This rule states the guidelines for exemption from the licensing requirements for mortgage brokers.
- (1) General. The exemption provision of section 443.803.1(8), RSMo shall be construed to avoid duplication of licensing and supervision by state and federal agencies. To the extent that specific conduct or business activity is not otherwise separately licensed or regulated, the provisions of section 443.803.1(8), RSMo shall be strictly construed.
- (2) Interpretive Guidelines. Any person may request an interpretative ruling of the commissioner on the question whether that person is an exempt entity. Such requests shall be in writing and contain information sufficient to reasonably inform the commissioner of the basis for the exemption.
- (3) Exempt List. The commissioner requests that all exempt entities file a letter disclosing exempt status and the reason therefore at the Division of Finance, Residential Mortgage Section, P.O. Box 716, Jefferson City, MO 65102.
AUTHORITY: sections 443.847, 443.869(7) and 443.887, RSMo Supp. 1996.* This rule originally filed as 4 CSR 140-30.120. Emergency rule filed Nov. 25, 1996, effective Dec. 5, 1996, expired June 2, 1997. Original rule filed Nov. 25, 1996, effective May 30, 1997. Moved to 20 CSR 1140-30.120, effective Aug. 28, 2006. *Original authority: 443.847, RSMo 1994, amended 1995; 443.869(7), RSMo 1994, amended 1995; and 443.887, RSMo 1994, amended 1995.