Missouri Revised Statutes
Chapter 443
Mortgages, Deeds of Trust and Mortgage Brokers
←443.867
Section 443.869.1
443.871→
August 28, 2015
Powers and duties of director--rulemaking authority.
443.869. 1. The functions, powers and duties of the director shall
include the following:
(1) To issue or refuse to issue any license as provided in sections
443.701 to 443.893;
(2) To revoke or suspend for cause any license issued pursuant to
sections 443.701 to 443.893;
(3) To keep records of all licenses issued pursuant to sections 443.701
to 443.893;
(4) To receive, consider, investigate and act upon complaints made by
any person in connection with any residential mortgage loan broker or
mortgage loan originator in this state;
(5) To consider and act upon any recommendations from the residential
mortgage board;
(6) To prescribe the forms for and receive:
(a) Applications for licenses; and
(b) All reports and all books and records required to be made by any
residential mortgage loan broker pursuant to the provisions of sections
443.701 to 443.893, including annual audited financial statements;
(7) To adopt rules necessary and proper for the administration of
sections 443.701 to 443.893;
(8) To subpoena documents and witnesses and compel their attendance and
production, to administer oaths and to require the production of any books,
papers or other material relevant to any inquiry authorized by sections
443.701 to 443.893;
(9) To require information with regard to any applicant as the director
may deem desirable, with due regard to the paramount interests of the public,
about the experience, background, honesty, truthfulness, integrity and
competency of the applicant concerning financial transactions involving
primary or subordinate mortgage financing and where the applicant is a person
other than an individual, as to the honesty, truthfulness, integrity and
competency of any officer or director of the corporation, association or
other person or the members of a partnership;
(10) To examine the books and records of every residential mortgage loan
broker at intervals as provided by sections 443.701 to 443.893 and the rules
promulgated thereunder;
(11) To enforce the provisions of sections 443.701 to 443.893;
(12) To levy fees and charges for services performed in administering the
provisions of sections 443.701 to 443.893. The aggregate of all fees
collected by the director shall be deposited promptly after receipt and
accompanied by a detailed statement of such receipts in the residential
mortgage licensing fund; provided that fees may also be collected under the
requirements of the NMLSR;
(13) To appoint a staff which may include an executive director,
examiners, supervisors, experts, special assistants and any necessary support
staff as needed to effectively and efficiently administer the provisions of
sections 443.701 to 443.893;
(14) To conduct hearings for such purposes as the director deems
appropriate; and
(15) To enter into agreements or contracts with authorized
representatives of the NMLSR as appropriate to implement the NMLSR in
Missouri.
2. Any rule or portion of a rule, as that term is defined in section
536.010, that is created under the authority delegated in this section shall
become effective only if it complies with and is subject to all of the
provisions of chapter 536 and, if applicable, section 536.028. This section
and chapter 536 are nonseverable and if any of the powers vested with the
general assembly pursuant to chapter 536 to review, to delay the effective
date or to disapprove and annul a rule are subsequently held
unconstitutional, then the grant of rulemaking authority and any rule
proposed or adopted after August 28, 2001, shall be invalid and void.
(L. 1994 S.B. 718 § 25, A.L. 1995 H.B. 63, et al., A.L. 2001 S.B. 538,
A.L. 2009 H.B. 382)
Effective 7-08-09
2001
1995
2001
443.869. 1. The functions, powers and duties of the director shall
include the following:
(1) To issue or refuse to issue any license as provided in sections
443.800 to 443.893;
(2) To revoke or suspend for cause any license issued pursuant to
sections 443.800 to 443.893;
(3) To keep records of all licenses issued pursuant to sections
443.800 to 443.893;
(4) To receive, consider, investigate and act upon complaints made by
any person in connection with any residential mortgage licensee in this
state;
(5) To consider and act upon any recommendations from the residential
mortgage board;
(6) To prescribe the forms of and receive:
(a) Applications for licenses; and
(b) All reports and all books and records required to be made by any
residential mortgage licensee pursuant to the provisions of sections
443.800 to 443.893, including annual audited financial statements;
(7) To adopt rules necessary and proper for the administration of
sections 443.800 to 443.893;
(8) To subpoena documents and witnesses and compel their attendance
and production, to administer oaths and to require the production of any
books, papers or other material relevant to any inquiry authorized by
sections 443.800 to 443.893;
(9) To require information with regard to any applicant as the
director may deem desirable, with due regard to the paramount interests of
the public, about the experience, background, honesty, truthfulness,
integrity and competency of the applicant concerning financial transactions
involving primary or subordinate mortgage financing and where the applicant
is an entity other than an individual, as to the honesty, truthfulness,
integrity and competency of any officer or director of the corporation,
association or other entity or the members of a partnership;
(10) To examine the books and records of every licensee at intervals
as provided by sections 443.800 to 443.893 and the rules promulgated
thereunder;
(11) To enforce the provisions of sections 443.800 to 443.893;
(12) To levy fees and charges for services performed in administering
the provisions of sections 443.800 to 443.893. The aggregate of all fees
collected by the director shall be deposited promptly after receipt and
accompanied by a detailed statement of such receipts in the residential
mortgage licensing fund;
(13) To appoint a staff which may include an executive director,
examiners, supervisors, experts, special assistants and any necessary
support staff as needed to effectively and efficiently administer the
provisions of sections 443.800 to 443.893; and
(14) To conduct hearings for such purposes as the director deems
appropriate.
2. Any rule or portion of a rule, as that term is defined in section
536.010, RSMo, that is created under the authority delegated in this
section shall become effective only if it complies with and is subject to
all of the provisions of chapter 536, RSMo, and, if applicable, section
536.028, RSMo. This section and chapter 536, RSMo, are nonseverable and if
any of the powers vested with the general assembly pursuant to chapter 536,
RSMo, to review, to delay the effective date or to disapprove and annul a
rule are subsequently held unconstitutional, then the grant of rulemaking
authority and any rule proposed or adopted after August 28, 2001, shall be
invalid and void.
1995
443.869. The functions, powers and duties of the director shall
include the following:
(1) To issue or refuse to issue any license as provided in sections
443.800 to 443.893;
(2) To revoke or suspend for cause any license issued pursuant to
sections 443.800 to 443.893;
(3) To keep records of all licenses issued pursuant to sections
443.800 to 443.893;
(4) To receive, consider, investigate and act upon complaints made by
any person in connection with any residential mortgage licensee in this
state;
(5) To consider and act upon any recommendations from the residential
mortgage board;
(6) To prescribe the forms of and receive:
(a) Applications for licenses; and
(b) All reports and all books and records required to be made by any
residential mortgage licensee pursuant to the provisions of sections
443.800 to 443.893, including annual audited financial statements;
(7) To adopt rules and regulations necessary and proper for the
administration of sections 443.800 to 443.893;
(8) To subpoena documents and witnesses and compel their attendance
and production, to administer oaths and to require the production of any
books, papers or other material relevant to any inquiry authorized by
sections 443.800 to 443.893;
(9) To require information with regard to any license applicant as
the director may deem desirable, with due regard to the paramount interests
of the public as to the experience, background, honesty, truthfulness,
integrity and competency of the license applicant as to financial
transactions involving primary or subordinate mortgage financing and where
the license applicant is an entity other than an individual, as to the
honesty, truthfulness, integrity and competency of any officer or director
of the corporation, association or other entity or the members of a
partnership;
(10) To examine the books and records of every residential mortgage
licensee at intervals as provided by sections 443.800 to 443.893 and the
rules promulgated thereunder;
(11) To enforce the provisions of sections 443.800 to 443.893;
(12) To levy fees and charges for services performed in administering
the provisions of sections 443.800 to 443.893. The aggregate of all fees
collected by the director shall be deposited promptly after receipt and
accompanied by a detailed statement of such receipts in the residential
mortgage licensing fund;
(13) To appoint a staff which may include an executive director,
examiners, supervisors, experts, special assistants and any necessary
support staff as needed to effectively and efficiently administer the
provisions of sections 443.800 to 443.893; and
(14) To conduct hearings for such purposes as the director deems
appropriate.
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