Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 1140 - Division of Finance
Chapter 30 - Mortgage Broker and Originator Rules
Section 20 CSR 1140-30.200 - Definitions
Universal Citation: 20 MO Code of State Regs 1140-30.200
Current through Register Vol. 49, No. 6, March 15, 2024
PURPOSE: This rule establishes the definitions used in 20 CSR 1140-30 and 20 CSR 1140-31 .
(1) The definitions in sections 443.701 to 443.893, RSMo, shall apply to these rules. In addition, the terms listed below shall have the following meanings:
(A) "Act," the
Missouri Secure and Fair Enforcement for Mortgage Licensing and Residential
Mortgage Brokers Licensing Act;
(B)
"Broker" shall have the same meaning as Residential Mortgage Loan Broker set
forth in section 443.703.1(31), RSMo;
(C) "Control" means the power to, directly or
indirectly, affect the voting interest of twenty-five percent (25%) or more of
any class of the outstanding voting shares, or partnership interest or limited
liability company interest, of a broker; and
(D) "First tier subsidiary" shall include any
corporation or limited liability company which is majority owned and controlled
by a federally-insured and regulated depository institution.
*Original authority: 443.703, RSMo 2009; 443.709, RSMo 2009; 443.711 , RSMo 2009; 443.725, RSMo 2009; 443.843, RSMo 1994, amended 1995, 2009; 443.869, RSMo 1994, amended 1995, 2001, 2009; and 443.887, RSMo 1994, amended 1995, 2001, 2009.
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