Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 1140 - Division of Finance
Chapter 25 - Association's Electronic Fund Transfer Systems
Section 20 CSR 1140-25.020 - Foreign Association Remote Service Units

(A) Foreign Associations. Upon obtaining the prior written approval of the director, a foreign association may operate a remote service unit in this state under the following terms and conditions:

(B) No foreign association shall operate a remote service unit in this state unless its home state shall allow associations chartered by the state of Missouri to operate remote service units in its state.

(C) A foreign association authorized by the director to operate a remote service unit in this state may render the same financial services, but none other, to its customers by means of a remote service unit as are permitted for associations chartered by the state of Missouri; provided, however, no foreign association shall render any financial service in this state by means of a remote service unit unless its home state shall allow associations chartered by the state of Missouri to render the same financial services in its state.

(D) Remote service units operated in this state by a foreign association pursuant to this regulation shall not be considered to be branch offices or agencies.

(A) Action Taken by Director. In addition to the other sanctions available, if, in the opinion of the director, a foreign association is unlawfully or unsoundly exercising, or has unlawfully or unsoundly exercised, the powers granted by this regulation or otherwise fails or has failed to comply with the requirements of this regulation, the director may issue and serve upon the foreign association a notice of intent to revoke the authority of the foreign association to exercise the powers granted by this regulation. The notice shall contain a statement of the facts constituting the alleged unlawful or unsound exercise of powers or failure to comply and shall fix a time and place at which a hearing will be held to determine whether an order revoking authority to exercise such powers should be issued against the foreign association. Such hearing shall be conducted in accordance with the provisions of 4 CSR 260-6.010 and shall be fixed for a date not earlier than thirty (30) days and not later than sixty (60) days after service of such notice unless an earlier or later date is set by the director at the request of the foreign association so served. The director may assess costs in connection with such a hearing. Unless the foreign association so served shall appear at the hearing by a duly authorized representative, it shall be deemed to have consented to the issuance of the revocation order. ln the event of such consent or if, upon the record made at any such hearing, the director shall find that any allegation specified in the notice of charges has been established, the director may issue and serve upon the foreign association an order revoking authority to exercise any and all powers granted by this regulation. Upon the effective date of any such revocation order, all the rights and privileges of such foreign association to operate a remote service unit in this state shall forthwith cease and terminate. A revocation order shall become effective not earlier than the expiration of thirty (30) days after service of such order upon the foreign association so served (except in the case of a revocation order issued upon consent, which shall become effective at the time specified), and shall remain effective and enforceable, except to such extent as it is stayed, modified, terminated or set aside by action of the director or the State Savings and Loan Commission or reviewing court.

(B) Automated Termination, The authority grants to a foreign association pursuant to this regulation to operate a remote service unit in Missouri shall immediately cease and terminate at such time as the equal rights required by 4 CSR 260-13.020(1) for associations chartered by the state of Missouri shall cease to exist in the state of the foreign association.