407.640. Registration statements, filing, contents. - Missouri Statutes

Registration statements, filing, contents.

407.640. 1. A credit services organization shall file aregistration statement with the director of finance beforeconducting business in this state. The registration statementmust contain:

(1) The name and address of the credit servicesorganization; and

(2) The name and address of any person who directly orindirectly owns or controls ten percent or more of theoutstanding shares of stock in the credit services organization.

2. The registration statement must also contain either:

(1) A full and complete disclosure of any litigation orunresolved complaint filed by or with a governmental authority ofthis state relating to the operation of the credit servicesorganization; or

(2) A notarized statement that states that there has beenno litigation or unresolved complaint filed by or with agovernmental authority of this state relating to the operation ofthe credit services organization.

3. The credit services organization shall update thestatement not later than the ninetieth day after the date onwhich a change in the information required in the statementoccurs.

4. Each credit services organization registering under thissection shall maintain a copy of the registration statement inthe office of the credit services organization. The creditservices organization shall allow a buyer to inspect theregistration statement on request.

5. The director of finance may charge each credit servicesorganization that files a registration statement with thedirector of finance a reasonable fee not to exceed one hundreddollars to cover the cost of filing. The director of finance maynot require a credit services organization to provide informationother than that provided in the registration statement as part ofthe registration process.

(L. 1991 S.B. 112 § 5)