reglab/statecodes huggingface dataset:
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 1140-30.220 - Self-Reporting Requirements

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule establishes self-reporting
				  requirements for mortgage loan originators, brokers, or any of a broker's
				  directors, principal stockholders, members, partners, or individuals who
				  influence management.
(1) A
				mortgage loan originator, broker, or any of a broker's directors, principal
				stockholders, members, partners, or individuals who influence management
				(hereinafter collectively referred to as "licensee" for the purpose of this
				rule) shall notify the director in writing within five (5) days of the
				occurrence of any of the following events:
(A) Licensee files for bankruptcy protection
				or is subjected to an involuntary bankruptcy proceeding;
(B) Institution by any state or other
				jurisdiction of a license denial, cease and desist, suspension or revocation
				procedure, or other formal or informal regulatory action against a
				licensee;
(C) Institution of an
				action by the Missouri attorney general or other enforcer of the consumer
				protection laws of any jurisdiction to enforce consumer protection laws against
				a licensee;
(D) Having a license
				suspended, terminated, or otherwise prohibited from participating in a federal
				or state program;
(E) Licensee is
				suspended, terminated, or otherwise prohibited as an approved lender or
				seller/servicer by the Federal National Mortgage Association, Federal Home Loan
				Mortgage Corporation, Government National Mortgage Association, Department of
				Housing and Urban development, Department of Veterans Affairs, or any other
				federal or state agency or program;
(F) The entry of a judgment against a
				licensee;
(G) A licensee is
				convicted of or enters a plea of guilty or
nolo contendere
to
				a felony or misdemeanor, excluding traffic violations, in a domestic, foreign,
				or military court. For the purposes of this requirement, a licensee need not
				report traffic or driving violations to the director so long as said violations
				are not felonies;
(H) The entry of
				a tax or other government lien upon the property of a licensee; or
(I) Revocation or suspension of a licensee's
				professional or business license by any state or jurisdiction. An agreement to
				surrender a license and/or not to operate in an occupation in which a
				professional license is required shall be considered a revocation for the
				purposes of this rule.
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 1140-30.230 - Challenges to Information Submitted to NMLSR

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule establishes the procedures by
				  which a mortgage loan originator can challenge information submitted by the
				  director to the Nationwide Mortgage Licensing System and
				  Registry.
(1) A mortgage loan
				originator may challenge the accuracy of information entered by the director to
				the Nationwide Mortgage Licensing System and Registry (NMLSR) regarding the
				mortgage loan originator by filing a written appeal with the director. The
				appeal shall specify what information is alleged to be in error and the basis
				of said belief. The appeal shall also include any documentation believed to
				support the mortgage loan originator's claim. The director shall review the
				appeal and notify the mortgage loan originator of the director's decision
				within thirty (30) days of receipt of the appeal, which shall represent the
				director's final decision.
*Original authority: 443.727, RSMo 2009; 443.869, RSMo
					 1994, amended 1995, 2001, 2009; and 443.887, RSMo 1994, amended 1995, 2001,
					 2009.
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 1140-30.240 - Operations and Supervision of Residential Mortgage Loan Brokers

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule establishes procedures and
				  guidelines for the licensing of residential mortgage loan brokers and the fees
				  associated therewith.
(1)
				Creation of a company/business account/record through the Nationwide Mortgage
				Licensing System and Registry (NMLSR).
(A)
				Prior to initial licensure or renewal, each applicant for a broker's license
				shall create a company/business account/record or otherwise register through
				the NMLSR or its successor(s), in order to obtain a unique or other identifier
				assigned by protocols established by the NMLSR. Applicants shall continue to
				satisfy the requirements set forth by the NMLSR in order to keep its
				company/business account/record in current or active status, including but not
				limited to the payment of any applicable fees.
(B) Applicants for initial licensure or
				renewal shall apply through the NMLSR on forms acceptable to the director and
				shall be verified by the oath or affirmation of the applicant or a principal
				officer thereof. In addition to the documents and information required by law
				or rule, the director may require additional information in order to enable the
				director to determine that the applicant meets or the licensee continues to
				meet the requirements of the Missouri Secure and Fair Enforcement for Mortgage
				Licensing and Residential Mortgage Brokers Licensing Act. Where the NMLSR does
				not make available submission of any document or report required or permitted
				by law to be filed with the director, an applicant shall directly submit such
				information to the director in the format requested.
(C) Notwithstanding a licensee's biennial
				renewal anniversary date, each licensee shall annually attest to the
				completeness, truthfulness, and accuracy of its company/business account/record
				during the annual year-end renewal period established by the NMLSR. Failure to
				do so shall result in the suspension of the broker's license.
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 1140-30.250 - Change in Business Activities

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule establishes procedures and
				  guidelines for mortgage loan brokers to follow in the event there is a change
				  in their respective business activities and the fees and notice requirements
				  associated therewith.
(1) A
				broker shall return his/her license to the director within ten (10) days upon a
				licensee closing a full-service office or his/her decision to discontinue
				brokering, originating, or servicing.
(2) Prior to a change of ownership or
				control, a broker and/or a prospective purchaser shall submit an application on
				a form prescribed by the director, which shall be submitted with the applicable
				fee not to exceed one hundred fifty dollars ($150) at least forty-five (45)
				days prior to the proposed change. All proposed changes must be approved by the
				director. Failure to obtain the director's prior approval may result in
				administrative action against the broker's license.
(3) A broker shall file an Application for
				Change of Name or Address, with the applicable fee, ten (10) business days in
				advance, on a form prescribed by the director. The name change shall be
				approved unless deceptively similar to another name or is otherwise prohibited
				by law.
*Original authority: 443.843, RSMo 1994, amended 1995,
					 2009; 443.869, RSMo 1994, amended 1995, 2001, 2009; and 443.887, RSMo 1994,
					 amended 1995, 2001, 2009.
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 1140-30.260 - Full-Service Office Requirement

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule establishes operations and
				  supervision guidelines concerning the full in-state service office
				  requirement.
(1) Each broker
				shall maintain at least one (1) full-service office located in Missouri
				consistent with sections 443.703.1(12) and 443.857, RSMo. At a minimum, each
				Missouri office must be staffed by one (1) supervised licensed mortgage loan
				originator and such staff as is needed to efficiently administer the tasks
				mandated by section 443.703.1(12), RSMo. The office location shall have a
				street address and shall not be a post office box or similar designation and
				shall be the address where the director is to send all correspondence, official
				notices, and orders; the broker shall be responsible for keeping the director
				informed of any changes in said address. In determining whether a broker
				handles such matters in a reasonably adequate manner, the director may consider
				consumer complaints received regarding said broker, information obtained from
				examinations conducted by the division, and reports filed with the division. If
				it is determined that a broker is not in compliance with section
				443.857,
				RSMo, the director shall notify the broker in writing detailing the
				requirements to achieve compliance, along with a reasonable deadline.
(A) Each full-service office shall also
				comply with any applicable local zoning ordinances and shall post any
				occupational licenses required by law or regulation.
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 1140-30.270 - Maintenance of Records

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule establishes guidelines for the
				  maintenance of required records to be kept by residential mortgage loan brokers
				  and the penalty for failure to do so.
(1) Each broker shall maintain an application
				log and shall produce it for examination by the director. It shall contain at
				least the following concerning each residential mortgage loan application
				received during the previous thirty-six (36) months:
(A) Full name of all applicants;
(B) Date of application;
(C) Name of the mortgage loan originator
				responsible for the loan application whose name and Nationwide Mortgage
				Licensing System and Registry (NMLSR) unique identifier also appears on the
				application;
(D) Disposition of the
				mortgage loan application and date of disposition. The log shall indicate the
				result of the loan transaction. The disposition of the application shall be
				categorized as one (1) of the following: loan closed, loan denied, application
				withdrawn, application in process, or other explanation;
(E) Address of the property;
(F) Amount of the loan; and
(G) The terms of the loan and/or loan
				program.
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 1140-30.280 - Authorized Advance Fees and Escrow Requirements

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule establishes general practices and
				  guidelines for residential mortgage loan brokers with regard to what advance
				  fees may be collected and placement of said fees. This rule also sets forth
				  guidelines for the collection and disbursement of rate-lock
				  fees.
(1) A broker shall not
				require a borrower to pay any fees or charges prior to the loan closing, except
				for:
(A) The actual and necessary charges of
				third parties needed to process the application, which shall be administered
				pursuant to this rule; and
(B) A
				rate-lock fee, provided that the written rate-lock fee agreement signed by both
				the borrower and the proposed lender includes the following terms:
1. The expiration date of the fee
				agreement;
2. The amount of the
				loan;
3. The maximum interest rate
				and maximum discount (points);
4.
				The term of the loan;
5. The lender
				is able to perform under the terms of the fee agreement; and
6. Subject to verification, the information
				submitted by the borrower indicates that the loan will be approved in
				accordance with the fee agreement.
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 1140-30.290 - In-State Office Waiver For Servicers

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule establishes the procedures and
				  qualifications needed for servicers to obtain a waiver for the full in-state
				  service office requirement.
(1) Procedures to Obtain Waiver. Prior to the
				issuance of a waiver pursuant to section 443.812.5, RSMo, of the requirement of
				maintaining a full-service office in Missouri, an applicant shall obtain a
				certificate of authority from the Missouri secretary of state. Furthermore, an
				applicant shall file with the license application an irrevocable consent in a
				form to be determined by the director, duly acknowledged, that provides suits
				and actions that may be commenced against the applicant in the courts of this
				state, and, should it be necessary to bring an action against the applicant,
				applicant agrees that venue shall lie in Cole County, Missouri.
(2) Qualifications for Waiver. For the
				purposes of determining if a loan servicer qualifies for the waiver set forth
				in section 443.812.5, RSMo, the term "primarily engaged in servicing
				residential mortgage loans" shall be defined as a residential loan servicer
				that derives seventy-five percent (75%) or more of its gross income from
				Missouri from residential loan servicing.
*Original authority: 443.812, RSMo 1994, amended 1995,
					 2001, 2009; 443.857, RSMo 1994, amended 2001, 2009; 443.869, RSMo 1994, amended
					 1995, 2001, 2009; and 443.887, RSMo 1994, amended 1995, 2001,
					 2009.
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 1140-30.300 - Annual Report

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule establishes procedures and
				  requirements for residential mortgage loan brokers to follow in submitting
				  their annual reports to the director.
(1) Filing Requirements. By March 1 of each
				year, each broker must file an Annual Report of Residential Mortgage Loan
				Broker Activity that contains the information mandated by section
				443.885,
				RSMo. If any category(ies) requested has nothing to report, then the proper
				response is "none."
(A) The Annual Report of
				Residential Mortgage Loan Broker Activity shall include the names of the
				mortgage loan originators and the dollar amount originated by each individual.
				It shall also include the dollar amount of the loans and with whom the broker
				had mortgage brokerage agreements including the aggregate dollar amount of
				loans brokered, funded, and serviced in the state of Missouri for the previous
				year. Each broker that reports any default or foreclosure shall also furnish
				the name of the lender who originated the loan.
(B) Brokers that file a Home Mortgage
				Disclosure Act Report may file a copy thereof in lieu of the report described
				herein.
(C) Each annual report
				shall be accompanied by an affidavit, attesting to truthfulness of the
				information contained therein.
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 1140-30.310 - Bonding Requirements

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule establishes bonding procedures and
				  requirements for residential mortgage loan brokers to follow.
(1) Annual Review and Initial Schedule. The
				principal amount of the surety bond shall be determined annually by the
				information contained in the broker's Annual Report of Residential Mortgage
				Loan Broker Activity and shall be based on the dollar amount of loans brokered,
				funded, and serviced in the state of Missouri for the previous year. In the
				event a broker brokers, funds, and services residential mortgage loans, or any
				combination thereof, the principal amount of the surety bond shall be based on
				the category that results in the highest bonding amount. The initial bonding
				schedule is as follows:
Dollar Amount of Loans Brokered/Funded/Serviced For
						  Previous Year
Bond Amounts For Loans Brokered
Bond Amounts For Loans Funded
Bond Amounts For Loans Serviced
$7,500,000 or less
$50,000
$50,000
$50,000
$7,500,001-$15,000,000
$50,000
$100,000
$100,000
$15,000,001-$22,500,000
$75,000
$150,000
$150,000
$22,500,001-$30,000,000
$100,000
$200,000
$200,000
$30,000,001-$45,000,000
$150,000
$300,000
$300,000
$45,000,001-$60,000,000
$200,000
$400,000
$400,000
$60,000,001 or more
$250,000
$500,000
$500,000
(A) Any
				increased surety bond as required above shall be filed with the director on or
				before May 1. Failure to do so shall be grounds for summary suspension of a
				broker's license.
(B) Surety bonds
				provided to the director are deemed to be records of the division and will not
				be released or returned to licensees or to the entities by which they were
				issued.
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 1140-30.320 - Exempt List

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule establishes procedures and
				  requirements for exempt companies to register with the
				  director.
(1) Registration.
				The director requests that all exempt entities file a letter disclosing exempt
				status and the reason therefore at the Division of Finance, Residential
				Mortgage Section, PO Box 716, Jefferson City, MO 65102. There shall be no fee
				for said filing.
*Original authority: 443.869, RSMo 1994, amended 1995,
					 2001, 2009 and 443.887, RSMo 1994, amended 1995, 2001,
					 2009.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 1140 - Division of Finance › Chapter 31 - Residential Mortgage Board › Section 20 CSR 1140-31.010 - General Organization-Residential Mortgage Board

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule complies with section
				  536.023,
				  RSMo, which requires each agency to adopt as a rule a description of its
				  operation and the methods where the public may obtain information or make
				  submissions or requests.
(1)
				The Residential Mortgage Board (board) determines appeals from decisions of the
				director concerning issuance, denial, revocation, or suspension of residential
				mortgage loan originator and residential mortgage loan broker licenses and
				approves mortgage brokering and origination rules promulgated by the director
				of finance.
(2) Information
				relating to the board's activities may be directed to the Residential Mortgage
				Board, 301 West High Street, PO Box 716, Jefferson City, MO 65102, telephone
				(573) 751-2545, or fax (573) 751-9192.
*Original authority: 443.816, RSMo 1995, amended 2009 and
					 536.023, RSMo 1975, amended 1976, 1997,
					 2004.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 1140 - Division of Finance › Chapter 31 - Residential Mortgage Board › Section 20 CSR 1140-31.020 - Rules of Procedure

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: The Residential Mortgage Board was
				  established to hear appeals from certain decisions of the director of finance.
				  In order to facilitate these appeals, the board promulgates these rules of
				  procedure.
(1) Definitions.
				As used in this rule, except as otherwise required by the context-
(A) Appellants shall mean persons who are
				appealing a decision of the director;
(B) Board shall mean the Residential Mortgage
				Board;
(C) Director shall mean the
				director of the Division of Finance;
(D) Presiding officer shall mean the chairman
				of the board or any board member designated by the presiding officer to assume
				those duties; and
(E) Secretary
				shall mean that member so designated by the board.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 2010 - Missouri State Board of Accountancy › Chapter 1 - Organization and Description of Board › Section 20 CSR 2010-1.010 - General Organization

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule complies with section
				  536.023(3),
				  RSMo, which requires each agency to adopt as
				  a rule a description of its operation and the methods and procedures where the
				  public may obtain information or make submissions or requests.
(1) The Missouri State Board of Accountancy
				is a unit of the Division of Professional Registration of the Department of
				Insurance, Financial Institutions and Professional Registration.
(2) The board was created in 1909 by Senate
				Bill 112 passed by the 44th General Assembly.
(3) The board consists of six (6) licensed
				certified public accountants and one (1) public member appointed by the
				governor and confirmed by the senate. Members are appointed to terms of five
				(5) years. The board annually elects from among its members a president, vice
				president, secretary, and treasurer.
(4) The board is directed by Chapter 326,
				RSMo, to adopt rules for the application and enforcement of Chapter 326,
				RSMo.
(5) The board has
				superintending control over the practice of accounting in Missouri and its
				primary duties consist of-
(A) Examination
				and licensing of applicants;
(B)
				Registration and licensing of certified public accounting firms;
(C) The establishment and collection of fees,
				penalties, and all monies payable to the State Board of Accountancy Fund and
				the Missouri State Board of Accountancy Investigation Fund;
(D) Review and investigation of
				complaints;
(E) Disciplinary action
				including sanction of certificates, licenses, and permits of certified public
				accountants and certified public accounting firms who have been found to have
				violated the provisions of Chapter 326, RSMo; and
(F) Protecting the public while maintaining
				the integrity of the profession.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 2010 - Missouri State Board of Accountancy › Chapter 1 - Organization and Description of Board › Section 20 CSR 2010-1.020 - Board Compensation

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule fixes the compensation for the
				  members of the Missouri State Board of Accountancy, in compliance with the
				  mandates of section 326.200.4, RSMo.
(1) Each member of the Missouri State Board
				of Accountancy shall receive as compensation the sum of seventy dollars ($70)
				for each day that any member devotes to the affairs of the board.
(2) In addition to the compensation fixed in
				this rule, each member is entitled to reimbursement of his/her expenses
				necessarily incurred in the discharge of his/her official duties.
(3) No request for the compensation provided
				in this rule shall be processed for payment unless sufficient funds are
				available for that purpose within the appropriation for this board.
*Original authority: 326.268, RSMo 2001 and 326.271, RSMo
					 2001, amended 2002.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 2010 - Missouri State Board of Accountancy › Chapter 1 - Organization and Description of Board › Section 20 CSR 2010-1.050 - Board Subpoena Power

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule establishes a procedure for the
				  power, handling and disposition of subpoenas issued by the board, pursuant to
				  the mandate of section
				  326.262,
				  RSMo.
(1) The board shall
				have the power to issue a subpoena or to summon as necessary for the attendance
				and testimony of any witness, and shall have the power to issue a subpoena
				duces tecum for the production of any book, paper, document, or
				thing.
(2) The board as an
				administrative body having superintending control over the practice of public
				accounting in Missouri shall have the power of subpoena and this power of
				subpoena shall exist in all manner necessary with respect to complaints,
				investigations, disciplinary actions, or in the course of pursuing settlement.
				The board's power of subpoena shall not be interpreted as superceding or
				removing the limitations set forth in section 326.289.13, RSMo.
(3) In lieu of requiring attendance of a
				person to produce original documents in response to a subpoena duces tecum, the
				board may require sworn copies of such documents to be filed with it or
				delivered to its designated representative.
(4) In the course of any board investigation
				of a licensee, the board may subpoena client work papers or client
				communications maintained by a licensee that relate to and are in connection
				with services rendered to the client by the licensee or, alternatively, are
				material to the defense of the licensee.
(5) Information obtained by subpoena shall be
				considered a closed record of the board pursuant to 326.295, RSMo, unless
				otherwise provided by law, and except for use only in the proceeding of the
				matter for which such material was obtained.
(6) The board may enforce its subpoenas,
				including subpoenas duces tecum, by applying to the circuit court of Cole
				County, the county of the investigation, hearing or proceeding, or any county
				where the person resides or may be found, for an order upon any person or firm
				who shall fail to obey a subpoena to show cause why such subpoena should not be
				enforced, which such order and a copy of the application therefore shall be
				served upon the person or firm in the same manner as a summons in a civil
				action, and if the circuit court shall, after a hearing, determine that the
				subpoena should be sustained and enforced, such court shall proceed to enforce
				the subpoena in the same manner as though the subpoena had been issued in a
				civil case in the circuit court.
*Original authority: 326.262, RSMo 2001 and 326.265, RSMo
					 2001.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 2010 - Missouri State Board of Accountancy › Chapter 2 - General Rules › Section 20 CSR 2010-2.005 - Definitions

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule defines terms used in the rules of
				  the Missouri State Board of Accountancy.
PUBLISHER'S NOTE: The secretary of state has
				  determined that the publication of the entire text of the material which is
				  incorporated by reference as a portion of this rule would be unduly cumbersome
				  or expensive. This material as incorporated by reference in this rule shall be
				  maintained by the agency at its headquarters and shall be made available to the
				  public for inspection and copying at no more than the actual cost of
				  reproduction. This note applies only to the reference material. The entire text
				  of the rule is printed here.
(1) Commission fee or referral fee shall
				include, but not be limited to:
(A) Any fee,
				profit, or other thing of value required or received for the rendering or
				selling of goods or services; or
(B) Any fee, profit, or other thing of value
				required or received for referring a client to the products or services of
				others; or
(C) Any fee, profit, or
				other thing of value paid to obtain a client. This rule does not apply to
				payments made where the payments are part of the employees' compensation or for
				the purchase of all, or a material part, of an accounting practice, or to
				retirement payments to persons formerly engaged in the practice of public
				accounting.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 2010 - Missouri State Board of Accountancy › Chapter 2 - General Rules › Section 20 CSR 2010-2.022 - Privilege to Practice

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule sets forth requirements for
				  practice privilege of certified public accountants from other states who are
				  not relocating to this state and whose accountancy statutes are substantially
				  equivalent to Missouri, or certified public accountants whose individual
				  qualifications meet the requirements to be considered substantially
				  equivalent.
(1) An
				individual, whose principal place of business, domicile, or residence is not in
				this state, shall be presumed to have practice privilege in this state and
				shall be required to conform to, and comply with, Missouri statutes and rules
				so long as the individual-
(A) Has a valid
				and unrestricted license to practice public accounting from any state whose
				licensing requirements are determined by the board to be substantially
				equivalent to the Missouri Accountancy Act; or
(B) Has a valid and unrestricted license to
				practice public accounting from any state and whose individual qualifications
				are determined by the board or National Association of State Boards of
				Accountancy (NASBA) National Qualification Appraisal Service to be
				substantially equivalent to the licensure requirements of the Missouri
				Accountancy Act; or
(C) Has a valid
				and unrestricted license to practice public accounting from any state, and has
				practiced as a licensed certified public accountant outside of this state, with
				experience of the type described in section 326.286.3., RSMo, for a minimum of
				four (4) years within the immediately preceding ten (10) years, provided that
				the applicant has a minimum of a bachelor's degree from an accredited college
				or university and has passed the uniform certified public accountant
				examination.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 2010 - Missouri State Board of Accountancy › Chapter 2 - General Rules › Section 20 CSR 2010-2.061 - Requirements for an Initial License to Practice

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment corrects a statutory
				  reference.
(1) Prior to June
				30, 2021, applicants for initial licensure shall meet the education
				requirements outlined in
				20 CSR
				2010-2.041 and successfully complete the examination
				requirements as outlined in
				20 CSR
				2010-2.150.
(2) On and after June 30, 2021, applicants
				for initial licensure shall demonstrate completion of at least one hundred
				fifty (150) semester credit hours of college education and earned a
				baccalaureate degree and/or graduate degree from an accredited college or
				university approved by the board. The one hundred fifty (150) semester credit
				hours shall include the one hundred twenty (120) hours required by section
				326.277,
				RSMo, and rule 20 CSR 2010-2.041. Additionally,
				of the remaining thirty (30) hours required for licensure, an applicant must
				complete a minimum additional twelve (12) semester credit hours in accounting
				and business, with six (6) semester credit hours in accounting and six (6)
				semester credit hours in business in undergraduate and/or graduate level
				courses.
(A) Of the at least one hundred
				fifty (150) semester credit hours completed, a maximum of nine (9) semester
				credit hours may be from formal, supervised internships or independent study in
				the areas of accounting or business in undergraduate and/or graduate level
				courses.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 2010 - Missouri State Board of Accountancy › Chapter 2 - General Rules › Section 20 CSR 2010-2.065 - Requirements for Licensure through Reciprocity

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: The amendment adds language to allow a
				  transition period for licensees making application for a reciprocal license to
				  practice public accounting.
(1) The board may issue a license to
				applicants who have a current certificate or license in another state or have a
				current foreign certificate or license that is acceptable to the board, and
				shall meet the following conditions:
(A)
				Meets the eligibility requirements to sit for the Uniform Certified Public
				Accountant (CPA) examination as prescribed in
				20 CSR
				2010-2.041;
(B) Has passed the Uniform CPA
				examination;
(C) Has successfully
				completed a written examination in professional ethics acceptable to the board
				as prescribed in
				20
				CSR 2010-2.061(6);
(D) Has met the experience requirements as
				prescribed in
				20
				CSR 2010-2.061.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 2010 - Missouri State Board of Accountancy › Chapter 2 - General Rules › Section 20 CSR 2010-2.070 - Renewal of Licenses

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule clarifies requirements of the
				  statutes pertaining to the renewal of the license to practice public accounting
				  by certified public accountants and public accountants in this
				  state.
(1) Licenses shall be
				issued for a licensing period of two (2) years beginning on October 1 and
				expiring on September 30 and shall be renewed biennially.
(2) Each certified public accountant (CPA)
				shall provide the board with the following information at the time of
				application for renewal of his or her individual license to practice:
(A) Residence address;
(B) Business connection or
				employer;
(C) Business
				address;
(D) Verification that the
				individual has met the Continuing Professional Education (CPE) requirements as
				described in Chapter 4;
(E) Details
				regarding any conviction of any criminal offense other than a minor traffic
				violation whether or not a sentence is imposed or executed;
(F) Details regarding any suspension,
				revocation or cancellation of the certificate or permit to practice by any
				jurisdiction; details regarding any suspension, revocation or restriction of
				his or her right to practice by the Internal Revenue Service, Securities
				Exchange Commission, Public Company Accounting Oversight Board, or any other
				federal or state agency;
(G)
				Details regarding any judgments rendered against the licensee for professional
				malpractice;
(H) Details regarding
				any willful violation of the rules and standards of professional conduct
				governing the practice of public accounting;
(I) Each licensee shall report to the board
				any revocation, suspension, restriction, modification, limitation, reprimand,
				warning, censure, probation or other final disciplinary action to practice any
				profession regulated by this chapter, or by another state, territory, federal
				agency or country, whether voluntarily agreed to by the certified public
				accountant or applicant, including but not limited to the denial of licensure,
				surrender of a license, allowing a license to expire or lapse, or
				discontinuance or limitation of a professional practice while subject to an
				investigation or while actually under investigation by any licensing authority,
				branch of the armed forces of the United States of America, court, agency of
				the state or federal government; and
(J) Each licensee shall notify the board in
				writing within thirty (30) days of any change in subsections (2)(A) through
				(2)(I) above occurring during the licensing period.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 2010 - Missouri State Board of Accountancy › Chapter 2 - General Rules › Section 20 CSR 2010-2.072 - Renewal of a Certified Public Accounting Firm Permit

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule establishes requirements
				  pertaining to the issuance and renewal of the permit to practice public
				  accounting by certified public accounting firms.
(1) Each office established, registered or
				maintained for the practice of public accounting by a certified public
				accountant (CPA) or certified public accounting firm, out of which a C PA
				practices or offers to practice public accounting shall obtain a permit with
				the board annually. Renewal shall be on a form provided by the board and shall
				include the name and license number of the resident manager of each
				office.
(2) Firm permits shall be
				issued for a period of one (1) year beginning on November 1 and expiring on
				October 31 and shall be renewed annually.
(3) Permit renewal notifications will be
				mailed to each applicant at the last known address, provided to the board, at
				least sixty (60) days before the permit expiration date. Failure to receive
				this notice does not relieve the firm of the annual obligation to renew the
				permit to practice. Failure to renew timely may cause the board to assess
				additional penalties as provided in
				20 CSR
				2010-2.160.
(4) Each certified public accounting firm
				shall provide the board annually with a completed renewal application form
				provided by the board and pay all applicable fees as determined by the
				board.
(5) As a part of the annual
				renewal of each office established and maintained for the practice of public
				accounting or out of which a C PA practices or offers to practice public
				accounting, the sole practitioner or partner, president, or managing officer of
				a certified public accounting firm shall affirm that:
(A) All of his or her employees, its resident
				partners or its members and managers, shareholders in Missouri, or any
				combination of these, who are Missouri CPAs have applied for a current license
				to practice public accounting; and
(B) All of his or her employees, its resident
				partners, its members and managers, or shareholders in Missouri, or any
				combination of these, who hold a C PA license issued by another state have
				applied for a Missouri CPA license by reciprocity or are granted practice
				privilege through substantial equivalency.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 2010 - Missouri State Board of Accountancy › Chapter 2 - General Rules › Section 20 CSR 2010-2.075 - Reinstatement of License to Practice

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: The proposed amendment requires the
				  applicant to obtain necessary CPE prior to reinstatement and removes the option
				  to allow the applicant to obtain the necessary CPE in the 60 days after
				  reinstatement is issued.
(1)
				The board may reinstate the license of any licensee provided -
(A) That person submits evidence to the
				board, along with the reinstatement application and fee, that he or she has
				completed forty (40) hours of continuing professional education (CPE) during
				the twelve (12) months previous to making application for reinstatement of the
				license.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 2010 - Missouri State Board of Accountancy › Chapter 2 - General Rules › Section 20 CSR 2010-2.085 - Reinstatement of Firm Permit

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule establishes requirements for
				  reinstatement of permit to practice for CPA firms.
(1) The board may reinstate the permit of any
				CPA firm provided-
(A) The firm submits a
				completed reinstatement application and applicable fees.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 2010 - Missouri State Board of Accountancy › Chapter 2 - General Rules › Section 20 CSR 2010-2.100 - Foreign Corporations

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule clarifies the statutes pertaining
				  to foreign corporations practicing public accounting in
				  Missouri.
(1) A foreign
				professional corporation which meets the definition of section
				356.021(2),
				RSMo, may apply for a CPA firm
				permit.
(2) Applicants for a firm
				permit as a foreign professional corporation shall provide to the board-
(A) A completed application for a CPA firm
				permit with all required fees;
(B)
				A copy of the most recent articles of incorporation (or amendment) on file with
				the secretary of state of the applicant's home state which states the applicant
				is a professional corporation;
(C)
				The certificate of corporation issued by the secretary of state from the
				applicant's home state which demonstrates the business is eligible to practice
				as a professional corporation; and
(D) Any additional information or
				documentation as the board may request.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 2010 - Missouri State Board of Accountancy › Chapter 2 - General Rules › Section 20 CSR 2010-2.130 - Applications for Examination

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule provides the applicant with
				  necessary information regarding the actual procedures relating to the
				  applications for the certified public accountant examination.
(1) Persons desiring to take the examination
				shall apply on forms provided by the board and obtainable from the firm which
				administers the examination for the board, CPA Examination Services (CPAES).
				The forms are available online at
www.nasba.org
or by calling CPA Examination
				Services at 800-CPA-EXAM or 615-880-4250. Different application forms are
				provided for initial examination and reexamination candidates.
(2) Initial applications must be completed by
				candidates who:
(A) Have never taken the
				examination;
(B) Have previously
				taken the examination as candidates in another state but who have not earned
				credit;
(C) Have previously taken
				the examination as candidates of another state and wish to transfer credit to
				this state; or
(D) Have previously
				applied as candidates of this state and were found eligible but who have not
				yet taken the examination.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 2010 - Missouri State Board of Accountancy › Chapter 2 - General Rules › Section 20 CSR 2010-2.135 - Requirements for Applicants for the Examination Who Expect to Satisfy the Educational Requirements Within Sixty Days After the Examination

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule specifies the procedure an
				  applicant must follow to demonstrate that he or she reasonably expects to
				  satisfy the educational requirements of section 326.280.1(4),
				  RSMo.
(1) An applicant for
				examination under the provisions of section 326.280.5, RSMo who expects to
				satisfy the educational requirements of section 326.280.1, RSMo within sixty
				(60) days after the date of the examination shall submit with the application a
				certified copy of his or her transcript(s) listing all courses
				completed.
(2) The applicant shall
				submit a certificate of enrollment which must be signed by the candidate under
				oath and notarized or bear the school seal and the signature of the dean,
				registrar or department head of the college or university in which he or she is
				enrolled. This certificate of enrollment shall list all accounting and business
				courses the applicant currently is taking and state the anticipated date the
				courses will be completed, the degree the applicant will be awarded and the
				date the degree will be conferred. It shall be the applicant's responsibility
				to submit a certified copy of his or her final transcript as evidence that the
				applicant satisfies the educational requirements.
(3) No licenses shall be issued and no grades
				for any part of the examination shall be issued to any applicant unless the
				educational requirement, in fact, is met within the sixty (60)day
				period.
(4) An applicant for the
				Uniform CPA Examination who is currently enrolled in college and who will
				complete all courses and graduation requirements no later than sixty (60) days
				following the examination, may be permitted to take the examination. In order
				to determine eligibility, the information required by this rule must be
				completed and submitted with all transcript(s) at least thirty (30) days prior
				to the examination.
(5) The
				provisions of this rule are declared severable. If any provision of this rule
				is held invalid by a court of competent jurisdiction, the remaining provisions
				of this rule shall remain in full force and effect, unless otherwise determined
				by a court of competent jurisdiction to be invalid.
*Original authority: 326.262, RSMo 2001; 326.268, RSMo
					 2001; and 326.280, RSMo 2001, amended
					 2002.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 2010 - Missouri State Board of Accountancy › Chapter 2 - General Rules › Section 20 CSR 2010-2.140 - Granting of Credit for the Examination

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: The rule is being rescinded and readopted to
				  current standards.
(1) Credit
				requirements.
(A) As of January 1, 2024,
				candidates are required to pass three (3) core sections of the Uniform CPA
				Examination including: Auditing and Attestation (AUD), Financial Accounting and
				Reporting (FAR), and Taxation and Regulation (REG). In addition to passing all
				three (3) core sections, the candidate shall pass one (1) of three (3)
				disciplines including: Business Analysis and Reporting (BAR), Information
				Systems and Controls (ISC), or Tax Compliance and Planning (TCP). The core
				sections are mandatory for all candidates; however, each candidate may select
				the discipline of choice. The candidate will be deemed to have passed the
				Uniform CPA Examination when credit has been timely granted for all three (3)
				core sections and one (1) discipline.
Missouri Code of State Regulations › Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE › Division 2010 - Missouri State Board of Accountancy › Chapter 2 - General Rules › Section 20 CSR 2010-2.160 - Fees

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment combines and clarifies
				  existing fees, increases delinquent and inactive fees, and establishes
				  reinstatement fees.
(1) The
				following fees are established by the Missouri State Board of Accountancy for
				certified public accountants (CPA) and certified public accounting firms.
(A) Reciprocity Fee
$165.00
(B) Wall Hanging Fee (duplicate)
$ 25.00
(C) CPA License Fee (initial)
$90.00
(D) CPA License Fee (biennial renewal)
$ 80.00
(E) CPA Inactive License Fee (initial)
$ 50.00
(F) CPA Inactive License Fee (biennial
							 renewal)
$ 50.00
(G) CPA Reinstatement of License Fee
$200.00
(H) Firm Permit Fee (initial)
$ 90.00
(I) Firm Permit Fee (annual renewal)
$ 90.00
(J) Reinstatement of CPA Firm Permit Fee
$200.00
(K) Replacement Fee (license or permit)
$10.00
(L) Delinquent fee for failure to obtain a permit or
							 license, or timely renew a permit or license (per month or portion of a
							 month)
1. Firms
$ 50.00
2. Certified public accountants
$ 50.00
(M) Bad Check Fee
$ 25.00
*Original authority: 326.262, RSMo 2001; 326.271, RSMo
					 2001, amended 2002; 326.277, RSMo 2001; 326.280, RSMo 2001, amended 2002;
					 326.283, RSMo 2001, amended 2002, 2008; 326.286, RSMo 2001, amended 2002; and
					 326.289, RSMo 2001, amended 2002, 2008.