Missouri Revised Statutes
Chapter 443
Mortgages, Deeds of Trust and Mortgage Brokers
←443.823
Section 443.825.1
443.827→
August 28, 2015
Application content, oath and form.
443.825. 1. Application for a residential mortgage loan broker license
shall be made as provided in sections 443.833 and 443.835. The application
shall be in writing, made under oath, and on a form provided by the director.
2. The director may, by rule, revise and conform the residential mortgage
loan broker license application and renewal process, and the licensing dates
and periods under sections 443.701 to 443.893 to a system of licensing
residential mortgage loan brokers administered in cooperation with the NMLSR.
3. The application shall contain the name and complete business and
residential address or addresses of the applicant. If the applicant is a
form of business organization, the application shall contain the names and
complete business and residential addresses of each member, director and
principal officer of such person. Such application shall also include a
description of the activities of the applicant, in such detail and for such
periods as the director may require, including all of the following:
(1) An affirmation of financial solvency noting such capitalization
requirements as may be required by the director, and access to such credit as
may be required by the director;
(2) An affirmation that the applicant or the applicant's members,
directors or principals, as may be appropriate, are at least eighteen years
of age;
(3) Information that would support findings under subdivision (4) of
section 443.821 as to the character, fitness, financial and business
responsibility, background, experience and criminal records of any:
(a) Person or ultimate equitable owner that owns or controls, directly
or indirectly, ten percent or more of any class of stock of the applicant;
(b) Person or ultimate equitable owner that is not a depository
institution that lends, provides or infuses, directly or indirectly, in any
way, funds to or into an applicant, in an amount equal to, or more than, ten
percent of the applicant's net worth;
(c) Person or ultimate equitable owner that controls, directly or
indirectly, the election of twenty-five percent or more of the members of the
board of directors of the applicant; and
(d) Person or ultimate equitable owner that the director finds
influences management of the applicant.
(L. 1994 S.B. 718 § 7, A.L. 1995 H.B. 63, et al., A.L. 2001 S.B. 538,
A.L. 2009 H.B. 382, A.L. 2009 H.B. 382)
Effective 7-08-09
2001
1995
2001
443.825. 1. Application for a license shall be made as provided in
sections 443.833 and 443.835. The application shall be in writing, made
under oath, and on a form provided by the director.
2. The application shall contain the name and complete business and
residential address or addresses of the applicant. If the applicant is a
partnership, association, corporation or other form of business
organization, the application shall contain the names and complete business
and residential addresses of each member, director and principal officer of
such entity. Such application shall also include a description of the
activities of the applicant, in such detail and for such periods as the
director may require, including all of the following:
(1) An affirmation of financial solvency noting such capitalization
requirements as may be required by the director, and access to such credit
as may be required by the director;
(2) An affirmation that the applicant or the applicant's members,
directors or principals, as may be appropriate, are at least eighteen years
of age;
(3) Information as to the character, fitness, financial and business
responsibility, background, experience and criminal records of any:
(a) Person, entity or ultimate equitable owner that owns or controls,
directly or indirectly, ten percent or more of any class of stock of the
applicant;
(b) Person, entity or ultimate equitable owner that is not a
depository institution that lends, provides or infuses, directly or
indirectly, in any way, funds to or into an applicant, in an amount equal
to, or more than, ten percent of the applicant's net worth;
(c) Person, entity or ultimate equitable owner that controls,
directly or indirectly, the election of twenty-five percent or more of the
members of the board of directors of the applicant; and
(d) Person, entity or ultimate equitable owner that the director
finds influences management of the applicant.
1995
443.825. 1. Application for a residential mortgage license shall be
made as provided in sections 443.833 and 443.835. The application shall be
in writing, made under oath, and on a form provided by the director.
2. The application shall contain the name and complete business and
residential address or addresses of the license applicant. If the license
applicant is a partnership, association, corporation or other form of
business organization, the application shall contain the names and complete
business and residential addresses of each member, director and principal
officer of such entity. Such application shall also include a description
of the activities of the license applicant, in such detail and for such
periods as the board may require, including all of the following:
(1) An affirmation of financial solvency noting such capitalization
requirements as may be required by the director, and access to such credit
as may be required by the director;
(2) An affirmation that the license applicant or the applicant's
members, directors or principals, as may be appropriate, are at least
eighteen years of age;
(3) Information as to the character, fitness, financial and business
responsibility, background, experience and criminal records if any:
(a) Person, entity or ultimate equitable owner that owns or controls,
directly or indirectly, ten percent or more of any class of stock of the
license applicant;
(b) Person, entity or ultimate equitable owner that is not a
depository institution that lends, provides or infuses, directly or
indirectly, in any way, funds to or into a license applicant, in an amount
equal to, or more than, ten percent of the license applicant's net worth;
(c) Person, entity or ultimate equitable owner that controls,
directly or indirectly, the election of twenty-five percent or more of the
members of the board of directors of a license applicant; or
(d) Person, entity or ultimate equitable owner that the director
finds influences management of the license applicant.
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