Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 120 - Family Trust Company › Section 15 CSR 30-120.010 - Definitions

Current through Register Vol. 49, No. 14, July 15, 2024
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.
(1) As used in this chapter or in the forms
				prescribed by this chapter, the words defined in section
				362.1015, RSMo, shall have the
				same meaning, and the following terms and phrases (whether or not capitalized)
				shall have the meanings stated below unless the context clearly indicates
				otherwise:
(A) "Affiliate" means any company
				that owns or controls, is owned or controlled by, or is under common ownership
				or control by any company that owns or controls, a family trust company or
				foreign family trust company;
(B)
				"Applicant" means the corporation or limited liability company on whose behalf
				an application to register as a family trust company is submitted under section
				362.1030, RSMo; or the
				corporation or limited liability company on whose behalf an application to
				register as foreign family trust company is submitted under section
				362.1030, RSMo;
(C) "Cash" means legal tender, coin, demand
				deposit accounts, and time-deposit accounts, as valued in United States
				dollars;
(D) "Company" means any
				corporation, association, partnership, limited liability company, business
				trust, sole proprietorship, joint venture, or charitable organization or
				foundation, or other similar organization or business entity; and
(E) "Owns" or "controls" means owns,
				controls, or has power to vote twenty-five percent (25%) or more of any class
				of voting securities or membership interests of a company or family trust
				company or foreign family trust company; or controls in any manner the election
				of a majority of the directors, or managers or other similar governing body of
				a company or family trust company or foreign family trust company; owns,
				controls, or has power to vote ten percent (10%) or more of any class of voting
				securities or membership interests of a company or family trust company or
				foreign family trust company and exercises a controlling influence over the
				management or policies of the company or family trust company or foreign family
				trust company; or as determined by the secretary
(F) "Owns" or "controls" means owns,
				controls, or has power to vote twenty-five percent (25%) or more of any class
				of voting securities or membership interests of a company or family trust
				company or foreign family trust company; or controls in any manner the election
				of a majority of the directors, or managers or other similar governing body of
				a company or family trust company or foreign family trust company; owns,
				controls, or has power to vote ten percent (10%) or more of any class of voting
				securities or membership interests of a company or family trust company or
				foreign family trust company and exercises a controlling influence over the
				management or policies of the company or family trust company or foreign family
				trust company; or as determined by the secretary; and
(G) "Third-party service provider" means any
				person or company that has entered into a business relationship with a family
				trust company or foreign family trust company, for the provision of services,
				or any person or company that has entered into a business relationship with an
				affiliate of a family trust company or foreign family trust company, for the
				provision of services.