443.821. License to be issued on completion of requirements--notice of denial of license to contain reasons--appeal procedure. - Missouri Statutes

License to be issued on completion of requirements--notice of denialof license to contain reasons--appeal procedure.

443.821. The director shall issue a residential mortgage loan brokerlicense upon completion of the following:

(1) The filing of an application;

(2) The filing with the director of a listing of judgments enteredagainst, and bankruptcy petitions by, the applicant for the preceding sevenyears;

(3) The payment of investigation and application fees to beestablished by administrative rule; and

(4) An investigation of the averments required by section 443.827,which investigation must allow the director to issue positive findingsstating that the financial responsibility, experience, character andgeneral fitness of the applicant, and of the members thereof, if theapplicant is a partnership or association, and of the officers anddirectors thereof if the applicant is a corporation, are such as to commandthe confidence of the community and to warrant belief that the businesswill be operated honestly, fairly and efficiently within the scope ofsections 443.701 to 443.893. If the director does not find the applicant'sbusiness and personal conduct warrants the issuance of a license, thedirector shall notify the applicant of the denial with the reasons statedfor such denial. An applicant may appeal such denial to the board.

(L. 1994 S.B. 718 § 6 subsec. 1, A.L. 1995 H.B. 63, et al., A.L. 2001 S.B. 538, A.L. 2009 H.B. 382)

Effective 7-08-09