Missouri Administrative Code

Union Member Accounts PURPOSE: This rule acknowledges the statu- tory requirement for federal deposit insurance on all credit union member accounts. (1) Every credit union shall obtain and main- tain deposit insurance from the National Credit Union Share Insurance Fund (NCUSIF). …

1984, effective Feb. 24, 1984, expired June work Interchanges 23, 1984. Original rule filed March 12, PURPOSE: On July 13, 1983 the Board of 1984, effective June 11, 1984 Moved to 20 Governors of the Federal Reserve System CSR 1100-4.005, effective Aug. 28, 2006. announced its ap…

PURPOSE: The purpose of this rule is to comply with section 536.023, RSMo Supp. 1998, which requires each agency to adopt as a rule a description of its operation and the manner in which the public may obtain infor- mation or make submissions or requests. (1) The Credit Union Com…

sion, and any other costs assessed by the PURPOSE: The Credit Union Commission commission may be taxed against a party as was established to approve or disapprove determined by the commission. each regulation proposed by the director of the Division of Credit Unions; to hear and …

PURPOSE: This rule defines several terms (1) “Immediate family” is defined as spouse, (2) A credit union requesting the ability to that are used in Missouri credit union law, child, sibling, parent, grandparent, grand- serve a geographic area must document that child, aunt, uncle…

(A) Lack of volunteers or other resources. PURPOSE: This rule sets forth criteria the 1. Documentation in the form of letters Credit Union Commission has determined to from the group desiring credit union mem- be important for the likelihood of success in bership indicating the l…

Limitations on Groups *Original authority: 370.063, RSMo 1998. PURPOSE: This rule sets forth the criteria the Credit Union Commission may consider when determining whether or not to approve a request for an exemption from the limita- tions on groups, established pursuant to 370.0…

PURPOSE: The purpose of this rule is to comply with section 536.023, RSMo (1986) 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) The State Banking Board deter…

from the decision of the state banking com- served by mail, by the commissioner, at the PURPOSE: The State Banking Board was missioner as provided by law and the State direction of the board and a copy shall be established to hear appeals from certain deci- Banking Board shall he…

required to obtain a license or certificate of PURPOSE: This rule complies with section registration from the Division of Finance. A (9) Mortgage brokers are subject to licensing 536.023(3), RSMo, which requires each certificate of registration must be obtained for per sections 4…

acquire a Missouri-based bank. PURPOSE: Section 362.915, RSMo, pro- hibits a bank holding company from obtaining Section 362.915, RSMo sets a maximum size control of a depository financial institution if to which a holding company may grow the combined deposits of the holding com…

al Provisions est to be determined by applying the contract license. If a loan is renewed without the rate of interest to the principal balance and required principal reduction, the section 500 PURPOSE: Section 500 companies are dividing that result by the number of days in compa…

(Rescinded March 30, 2025) AUTHORITY: section 361.727, RSMo 2000. This rule originally filed as 4 CSR 140-12.010. Original rule filed Dec. 11, 1990, effective April 29, 1991. Emergency amendment filed March 27, 1995, effective April 14, 1995, terminated May 1, 1995. Emergency ame…

Rescinded: Filed Sept. 18, 2024, effective March 30, 2025. PURPOSE: This rule defines certain terms used in the administration of the Missouri Family Trust Company Act and in the corresponding rules, forms, and orders made. 20 CSR 1140-120.030 Application to Register as a Foreign…

(Rescinded March 30, 2025) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

(Rescinded March 30, 2025) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 20 CSR 1140-120.040 Annual Registration Report (Rescinded March 30, 2025) . . . . . . . . . . . . . 3 20 CSR 1140-120.050 Records . . . . . . . . . . . . . . . . . . . . . . .…

Any such request for additional information will be made PURPOSE: This rule prescribes the examination process under the by the director within thirty (30) days after receipt of the 4 CODE OF STATE REGULATIONS (2/28/25) Denny Hoskins Secretary of State 20 CSR 1140-120—DEPARTMENT …

ments and General Provisions AUTHORITY: section 408.510, RSMo Supp. PURPOSE: Section 408.510 companies (con- 2001.* This rule originally filed as 4 CSR sumer installment lenders) are required by 140-13.010. Original rule filed Feb. 15, 2002, section 408.510, RSMo, to obtain a lic…

enlarge this period of time— PURPOSE: This regulation requires state- (A) On his/her own order; chartered savings and loan associations to (B) On request of any association in mat- file duplicate copies of all filings, applica- ters other than contested cases; tions, protests and…

effective Nov. 13, 1978. Changed to 4 CSR and Enlargement 140-14.020, effective July 6, 1994. Moved to PURPOSE: This rule establishes a uniform 20 CSR 1140-14.020, effective Aug. 28, 2006. interpretation of the dates on which certain *Original authority: 369.299, RSMo 1971, amend…

dures filed as 4 CSR 260-3.011. This rule previous- (4) All business of the association shall be ly filed as 4 CSR 140-15.011. Original rule PURPOSE: This regulation establishes accounted for in accordance with generally filed June 12, 1981, effective Sept. 11, 1981. accounting a…

Mortgage Loans, Mortgage-Related Securities and Certain Debt Securities ...3 20 CSR 1140-15.040 Subordinated Debt Security ...............................................................3 20 CSR 1140-15.050 Mutual Capital Certificates..............................................…

tificates is authorized, by resolution or resolutions from time-to-time adopted and approved by PURPOSE: This rule allows the issuance of the director of the Division of Finance, to mutual capital certificates by a state-char- provide in supplementary sections for the tered mutua…

Mobile Facilities and Tandem Branch (E) Commission shall mean the State these hours, aggregating a total of not less Savings and Loan Commission; and than four (4) hours a day, as the association’s PURPOSE: This regulation creates a uniform (F) Protestant means any state associat…

Filed July 14, 1978, effective Nov. 13, 1978. office in such a manner as could be verified PURPOSE: This regulation requires an asso- Amended: Filed Aug. 15, 1983, effective Nov. by an examination performed by the division. ciation to file an application for an agency 11, 1983. A…

(B) The functions to be performed at the 28, 2006. agency; PURPOSE: This regulation allows an associ- (C) The estimated volume of business at *Original authority: 369.299, RSMo 1971, amended ation to file an application to establish a loan 1994. the agency; office. (D) The estima…

case basis. PURPOSE: This regulation requires savings and loan associations to establish a general AUTHORITY: sections 369.014, 369.299 and reserve account in compliance with applica- 369.224, RSMo 1994.* This rule originally ble federal regulations. filed as 4 CSR 260-5.020. Thi…

PURPOSE: This rule establishes the mini- mum amount of liquid assets required to be maintained by associations. (1) Liquid Assets Defined. Liquid assets shall include cash on hand and in deposits with banks, including Federal Home Loan Banks, and such other assets as may be deter…

Contested Cases requirement, if in his/her discretion, the par- (4) Procedures Following Hearing. ties are so numerous that this requirement (A) Post-Hearing Motions. Motions filed PURPOSE: This regulation establishes the would be unduly onerous. after the close of the hearing sh…

PURPOSE: This regulation requires an asso- ciation to establish a prudent lending policy and a loan secured by real estate must be supported by at least one written appraisal. Editor’s Note: Copies of all referenced feder- al regulations are available to any interested party at t…

(Rescinded September 30, 2021) five percent (5%) in the bank’s outstanding shares. (D) The terms officer, director, employee and principal AUTHORITY: sections 361.105, RSMo 1986 and 362.105.3, RSMo shareholder shall include the spouse and minor child(ren) of Supp. 1992. This rule…

(Rescinded September 30, 2021) any loan made by the bank, nor receive or retain any bonus, salary, premium or other compensation contingent upon sales AUTHORITY: sections 361.105, RSMo 1986, 362.105.3, RSMo Supp. of credit life or credit accident and health insurance. This 1992 a…

(Rescinded September 30, 2021) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

(Rescinded September 30, 2021) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 20 CSR 1140-2.050 Disposition of Credit Insurance Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 20 CSR 1140-2.051 Insurance Agencies Operated by State-C…

as 4 CSR 140-2.050. Original rule filed July 15, 1981, effective Jan. 1, PURPOSE: The practice in state-chartered banks where persons 1982. Amended: Filed Feb. 25, 1986, effective June 1, 1986. Moved or entities other than the bank receive compensation for the sale to 20 CSR 1140…

(Rescinded September 30, 2021) (5) Accounting for bank owned life insurance policies must AUTHORITY: sections 361.105, RSMo 1986 and 408.052, RSMo be consistent with the requirements of generally accepted 4 CODE OF STATE REGULATIONS (4/30/24) John R. Ashcroft Secretary of State 2…

(Rescinded September 30, 2021) of Finance; and (F) The REDC shall obtain proper documentation and AUTHORITY: sections 361.105, 362.170 and 362.105, RSMo Supp. perfected security interests on all projects. 1995. This rule originally filed as 4 CSR 140-2.060. Original rule filed De…

Development Corporations (5) A bank’s investment in an REDC will be subject to the same PURPOSE: Senate Bill 52 was approved by the governor and took review standards as any other investment. Examiners will be effect on September 28, 1985. The bill amended section 362.106, review…

(Rescinded September 30, 2021) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 20 CSR 1140-2.070 Accounting for Other Real Estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 20 CSR 1140-2.080 Legal Loan Limit . . . . . . . . .…

effective Aug. 30, 2002. Moved to 20 CSR 1140-2.070, effective Aug. PURPOSE: This rule requires banks and trust companies to account 28, 2006. Amended: Filed Oct. 11, 2023, effective May 30, 2024. for other real estate in a manner that conforms to generally *Original authority: 3…

(Rescinded September 30, 2021) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 20 CSR 1140-2.090 Originating Trustees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 20 CSR 1140-2.095 Standards for Certain Fi…

Investments have adverse effects on the financial interests of minority shareholders and, in some cases, may result in a finding by the PURPOSE: House Bill 105/480 of the 87th General Assembly Internal Revenue Service or preferential dividends with the amended section 362.550.5.,…

(Rescinded September 30, 2021) more common types of services which may be rendered. Opposite each of these services is a classification indicating AUTHORITY: sections 361.105 and 362.295, RSMo 1986 and how the expense normally should be billed. These guidelines 361.130, RSMo Supp…

Marketing development Pro rata basis (Rescinded September 30, 2021) and advertising programs—general AUTHORITY: section 362.105, RSMo Supp. 1992. This rule originally filed as 4 CSR 140-2.126. Emergency rule filed Nov. 19, 1990, Marketing development Individual subsidiary billing…

(Rescinded May 30, 2024) Investment advice Individual subsidiary billing AUTHORITY: sections 361.105 and 362.105.4, RSMo Supp. 1996, Money desk operations Individual subsidiary billing and 362.107, RSMo 1994. This rule originally filed as 4 CSR 140- 2.127. Emergency rule filed De…

(4) Remedies for Failure to Meet Requirements. (A) If a bank or trust company does not continue to satisfy PURPOSE: Senate Bill 773, passed by the 84th General Assembly, the requirements of subsections (2)(A) through (2)(F) of this enacted a new section 362.410, RSMo which requir…

(F) The partnership may not invest, with respect to any lease PURPOSE: The National Banking Act, 12 USCA 24(10), by the customer, an amount in the aggregate which would exceed Competitive Equality Banking Act of 1987, P.L. 100-86, authorizes the amount which the bank could invest…