PURPOSE: This rule complies with section 536.023, RSMo (1994) which requires each agency to adopt as a rule a description of its operation and the methods where the public may obtain information or make submissions or requests.

1. (1) The Residential Mortgage Board determines appeals from decisions of the commissioner of finance concerning issuance, denial, revocation, or suspension of a residential mortgage license and approves regulations promulgated by the commissioner of finance.
2. (2) The Residential Mortgage Board is a bipartisan board consisting of five (5) individuals appointed by the governor. Two (2) of the board members are forbidden to have any interest in any mortgage brokerage business, three (3) must be experienced in mortgage brokering and one (1) of the five (5) board members must be an attorney. The board shall designate its own chairman and secre - tary. A majority of the members of the board shall constitute a quorum and the decision of a majority of a quorum shall be the decision of the board. The board shall meet upon call of the chairman, or of the director, or of any two (2) members of the board, and may meet at any place in this state.
3. (3) Information relating to the activities of the Residential Mort gage Board may be directed to the Residential Mortgage Board, 301 West High Street, P.O. Box 716, Jefferson City, MO 65102.

AUTHORITY: sections 443.816, RSMo (Cum. Supp. 1996) and 536.023, RSMo (1994).* This rule originally filed as 4 CSR 140- 31.010. 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- 31.010, effective Aug. 28, 2006. *Original authority: 443.816, RSMo (1995) and 536.023, RSMo (1975) amended 1976.