Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 1140 - Division of Finance
Chapter 6 - Interpretive Rulings
Section 20 CSR 1140-6.075 - Loan Production Offices

(1) Any bank, whether organized or established under the laws of this state or of another state, or under the laws of the United States, subject to the provisions of this rule, may establish one (1) or more loan production offices in Missouri.

(2) Loans which are originated at a loan production office must be approved or denied at the main office or branch office of the lending bank and the proceeds of these loans must be disbursed from the main office or a branch office of the lending bank; disbursement may not be effected by or through the loan production office. No payments may be accepted at a loan production office.

(3) It shall be a condition of the right to establish and maintain a loan production office in Missouri that each bank which does so, by January 1 of each year, must report to the commissioner of finance stating the location of the loan production office maintained, the volume of income generated by each loan production office, the number of officers and other personnel employed at each location, as well as the address of the office at which loans are approved or denied and disbursement made. In addition, all loan production offices presently operating in Missouri shall file a report containing this information within sixty (60) days (January 14, 1985) of the effective date of this rule (November 15, 1984). Reports shall be filed with the Commissioner of Finance, Division of Finance, P.O. Box 716, Jefferson City, MO 65102.