Financial institutions to obtain license,exceptions--application--fee.
364.030. 1. No person shall engage in the business of a financinginstitution in this state without a license therefor as provided in thischapter; except, however, that no bank, trust company, loan and investmentcompany, licensed sales finance company, registrant under the provisions ofsections 367.100 to 367.200, RSMo, or person who makes only occasionalpurchases of retail time contracts or accounts under retail chargeagreements and which purchases are not being made in the course of repeatedor successive purchase of retail installment contracts from the sameseller, shall be required to obtain a license under this chapter but shallcomply with all the laws of this state applicable to the conduct andoperation of a financing institution.
2. The application for the license shall be in writing, under oathand in the form prescribed by the director. The application shall containthe name of the applicant; date of incorporation, if incorporated; theaddress where the business is or is to be conducted and similar informationas to any branch office of the applicant; the name and resident address ofthe owner or partners or, if a corporation or association, of thedirectors, trustees and principal officers, and other pertinent informationas the director may require.
3. The license fee for each calendar year or part thereof shall bethe sum of three hundred dollars for each place of business of the licenseein this state which shall be paid into the general revenue fund. Thedirector may establish a biennial licensing arrangement but in no caseshall the fees be payable for more than one year at a time.
4. Each license shall specify the location of the office or branchand must be conspicuously displayed therein. In case the location ischanged, the director shall either endorse the change of location of thelicense or mail the licensee a certificate to that effect, without charge.
5. Upon the filing of an application, and the payment of the fee, thedirector shall issue a license to the applicant to engage in the businessof a financing institution under and in accordance with the provisions ofthis chapter for a period which shall expire the last day of December nextfollowing the date of its issuance. The license shall not be transferableor assignable. No licensee shall transact any business provided for bythis chapter under any other name.
Financial institutions to obtain license,exceptions--application--fee.
364.030. 1. No person shall engage in the business of a financinginstitution in this state without a license therefor as provided in thischapter; except, however, that no bank, trust company, loan and investmentcompany, licensed sales finance company, registrant under the provisions ofsections 367.100 to 367.200, RSMo, or person who makes only occasionalpurchases of retail time contracts or accounts under retail chargeagreements and which purchases are not being made in the course of repeatedor successive purchase of retail installment contracts from the sameseller, shall be required to obtain a license under this chapter but shallcomply with all the laws of this state applicable to the conduct andoperation of a financing institution.
2. The application for the license shall be in writing, under oathand in the form prescribed by the director. The application shall containthe name of the applicant; date of incorporation, if incorporated; theaddress where the business is or is to be conducted and similar informationas to any branch office of the applicant; the name and resident address ofthe owner or partners or, if a corporation or association, of thedirectors, trustees and principal officers, and other pertinent informationas the director may require.
3. The license fee for each calendar year or part thereof shall bethe sum of three hundred dollars for each place of business of the licenseein this state which shall be paid into the general revenue fund. Thedirector may establish a biennial licensing arrangement but in no caseshall the fees be payable for more than one year at a time.
4. Each license shall specify the location of the office or branchand must be conspicuously displayed therein. In case the location ischanged, the director shall either endorse the change of location of thelicense or mail the licensee a certificate to that effect, without charge.
5. Upon the filing of an application, and the payment of the fee, thedirector shall issue a license to the applicant to engage in the businessof a financing institution under and in accordance with the provisions ofthis chapter for a period which shall expire the last day of December nextfollowing the date of its issuance. The license shall not be transferableor assignable. No licensee shall transact any business provided for bythis chapter under any other name.
Financial institutions to obtain license,exceptions--application--fee.
364.030. 1. No person shall engage in the business of a financinginstitution in this state without a license therefor as provided in thischapter; except, however, that no bank, trust company, loan and investmentcompany, licensed sales finance company, registrant under the provisions ofsections 367.100 to 367.200, RSMo, or person who makes only occasionalpurchases of retail time contracts or accounts under retail chargeagreements and which purchases are not being made in the course of repeatedor successive purchase of retail installment contracts from the sameseller, shall be required to obtain a license under this chapter but shallcomply with all the laws of this state applicable to the conduct andoperation of a financing institution.
2. The application for the license shall be in writing, under oathand in the form prescribed by the director. The application shall containthe name of the applicant; date of incorporation, if incorporated; theaddress where the business is or is to be conducted and similar informationas to any branch office of the applicant; the name and resident address ofthe owner or partners or, if a corporation or association, of thedirectors, trustees and principal officers, and other pertinent informationas the director may require.
3. The license fee for each calendar year or part thereof shall bethe sum of three hundred dollars for each place of business of the licenseein this state which shall be paid into the general revenue fund. Thedirector may establish a biennial licensing arrangement but in no caseshall the fees be payable for more than one year at a time.
4. Each license shall specify the location of the office or branchand must be conspicuously displayed therein. In case the location ischanged, the director shall either endorse the change of location of thelicense or mail the licensee a certificate to that effect, without charge.
5. Upon the filing of an application, and the payment of the fee, thedirector shall issue a license to the applicant to engage in the businessof a financing institution under and in accordance with the provisions ofthis chapter for a period which shall expire the last day of December nextfollowing the date of its issuance. The license shall not be transferableor assignable. No licensee shall transact any business provided for bythis chapter under any other name.
