443.825. Application content, oath and form.

MISSOURI STATUTES AND CODES

443.825. Application content, oath and form.

Application content, oath and form.

443.825. 1. Application for a residential mortgage loan brokerlicense shall be made as provided in sections 443.833 and 443.835. Theapplication shall be in writing, made under oath, and on a form provided bythe director.

2. The director may, by rule, revise and conform the residentialmortgage loan broker license application and renewal process, and thelicensing dates and periods under sections 443.701 to 443.893 to a systemof licensing residential mortgage loan brokers administered in cooperationwith the NMLSR.

3. The application shall contain the name and complete business andresidential address or addresses of the applicant. If the applicant is aform of business organization, the application shall contain the names andcomplete business and residential addresses of each member, director andprincipal officer of such person. Such application shall also include adescription of the activities of the applicant, in such detail and for suchperiods as the director may require, including all of the following:

(1) An affirmation of financial solvency noting such capitalizationrequirements as may be required by the director, and access to such creditas may be required by the director;

(2) An affirmation that the applicant or the applicant's members,directors or principals, as may be appropriate, are at least eighteen yearsof age;

(3) Information that would support findings under subdivision (4) ofsection 443.821 as to the character, fitness, financial and businessresponsibility, background, experience and criminal records of any:

(a) Person or ultimate equitable owner that owns or controls,directly or indirectly, ten percent or more of any class of stock of theapplicant;

(b) Person or ultimate equitable owner that is not a depositoryinstitution that lends, provides or infuses, directly or indirectly, in anyway, funds to or into an applicant, in an amount equal to, or more than,ten percent of the applicant's net worth;

(c) Person or ultimate equitable owner that controls, directly orindirectly, the election of twenty-five percent or more of the members ofthe board of directors of the applicant; and

(d) Person or ultimate equitable owner that the director findsinfluences management of the applicant.