Powers and duties of director--rulemaking authority.
443.869. 1. The functions, powers and duties of the director shallinclude the following:
(1) To issue or refuse to issue any license as provided in sections443.701 to 443.893;
(2) To revoke or suspend for cause any license issued pursuant tosections 443.701 to 443.893;
(3) To keep records of all licenses issued pursuant to sections443.701 to 443.893;
(4) To receive, consider, investigate and act upon complaints made byany person in connection with any residential mortgage loan broker ormortgage loan originator in this state;
(5) To consider and act upon any recommendations from the residentialmortgage 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 anyresidential mortgage loan broker pursuant to the provisions of sections443.701 to 443.893, including annual audited financial statements;
(7) To adopt rules necessary and proper for the administration ofsections 443.701 to 443.893;
(8) To subpoena documents and witnesses and compel their attendanceand production, to administer oaths and to require the production of anybooks, papers or other material relevant to any inquiry authorized bysections 443.701 to 443.893;
(9) To require information with regard to any applicant as thedirector may deem desirable, with due regard to the paramount interests ofthe public, about the experience, background, honesty, truthfulness,integrity and competency of the applicant concerning financial transactionsinvolving primary or subordinate mortgage financing and where the applicantis 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 mortgageloan broker at intervals as provided by sections 443.701 to 443.893 and therules promulgated thereunder;
(11) To enforce the provisions of sections 443.701 to 443.893;
(12) To levy fees and charges for services performed in administeringthe provisions of sections 443.701 to 443.893. The aggregate of all feescollected by the director shall be deposited promptly after receipt andaccompanied by a detailed statement of such receipts in the residentialmortgage licensing fund; provided that fees may also be collected under therequirements of the NMLSR;
(13) To appoint a staff which may include an executive director,examiners, supervisors, experts, special assistants and any necessarysupport staff as needed to effectively and efficiently administer theprovisions of sections 443.701 to 443.893;
(14) To conduct hearings for such purposes as the director deemsappropriate; and
(15) To enter into agreements or contracts with authorizedrepresentatives of the NMLSR as appropriate to implement the NMLSR inMissouri.
2. Any rule or portion of a rule, as that term is defined in section536.010, RSMo, that is created under the authority delegated in thissection shall become effective only if it complies with and is subject toall of the provisions of chapter 536, RSMo, and, if applicable, section536.028, RSMo. This section and chapter 536, RSMo, are nonseverable and ifany 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 arule are subsequently held unconstitutional, then the grant of rulemakingauthority and any rule proposed or adopted after August 28, 2001, shall beinvalid and void.
Powers and duties of director--rulemaking authority.
443.869. 1. The functions, powers and duties of the director shallinclude the following:
(1) To issue or refuse to issue any license as provided in sections443.701 to 443.893;
(2) To revoke or suspend for cause any license issued pursuant tosections 443.701 to 443.893;
(3) To keep records of all licenses issued pursuant to sections443.701 to 443.893;
(4) To receive, consider, investigate and act upon complaints made byany person in connection with any residential mortgage loan broker ormortgage loan originator in this state;
(5) To consider and act upon any recommendations from the residentialmortgage 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 anyresidential mortgage loan broker pursuant to the provisions of sections443.701 to 443.893, including annual audited financial statements;
(7) To adopt rules necessary and proper for the administration ofsections 443.701 to 443.893;
(8) To subpoena documents and witnesses and compel their attendanceand production, to administer oaths and to require the production of anybooks, papers or other material relevant to any inquiry authorized bysections 443.701 to 443.893;
(9) To require information with regard to any applicant as thedirector may deem desirable, with due regard to the paramount interests ofthe public, about the experience, background, honesty, truthfulness,integrity and competency of the applicant concerning financial transactionsinvolving primary or subordinate mortgage financing and where the applicantis 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 mortgageloan broker at intervals as provided by sections 443.701 to 443.893 and therules promulgated thereunder;
(11) To enforce the provisions of sections 443.701 to 443.893;
(12) To levy fees and charges for services performed in administeringthe provisions of sections 443.701 to 443.893. The aggregate of all feescollected by the director shall be deposited promptly after receipt andaccompanied by a detailed statement of such receipts in the residentialmortgage licensing fund; provided that fees may also be collected under therequirements of the NMLSR;
(13) To appoint a staff which may include an executive director,examiners, supervisors, experts, special assistants and any necessarysupport staff as needed to effectively and efficiently administer theprovisions of sections 443.701 to 443.893;
(14) To conduct hearings for such purposes as the director deemsappropriate; and
(15) To enter into agreements or contracts with authorizedrepresentatives of the NMLSR as appropriate to implement the NMLSR inMissouri.
2. Any rule or portion of a rule, as that term is defined in section536.010, RSMo, that is created under the authority delegated in thissection shall become effective only if it complies with and is subject toall of the provisions of chapter 536, RSMo, and, if applicable, section536.028, RSMo. This section and chapter 536, RSMo, are nonseverable and ifany 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 arule are subsequently held unconstitutional, then the grant of rulemakingauthority and any rule proposed or adopted after August 28, 2001, shall beinvalid and void.
Powers and duties of director--rulemaking authority.
443.869. 1. The functions, powers and duties of the director shallinclude the following:
(1) To issue or refuse to issue any license as provided in sections443.701 to 443.893;
(2) To revoke or suspend for cause any license issued pursuant tosections 443.701 to 443.893;
(3) To keep records of all licenses issued pursuant to sections443.701 to 443.893;
(4) To receive, consider, investigate and act upon complaints made byany person in connection with any residential mortgage loan broker ormortgage loan originator in this state;
(5) To consider and act upon any recommendations from the residentialmortgage 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 anyresidential mortgage loan broker pursuant to the provisions of sections443.701 to 443.893, including annual audited financial statements;
(7) To adopt rules necessary and proper for the administration ofsections 443.701 to 443.893;
(8) To subpoena documents and witnesses and compel their attendanceand production, to administer oaths and to require the production of anybooks, papers or other material relevant to any inquiry authorized bysections 443.701 to 443.893;
(9) To require information with regard to any applicant as thedirector may deem desirable, with due regard to the paramount interests ofthe public, about the experience, background, honesty, truthfulness,integrity and competency of the applicant concerning financial transactionsinvolving primary or subordinate mortgage financing and where the applicantis 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 mortgageloan broker at intervals as provided by sections 443.701 to 443.893 and therules promulgated thereunder;
(11) To enforce the provisions of sections 443.701 to 443.893;
(12) To levy fees and charges for services performed in administeringthe provisions of sections 443.701 to 443.893. The aggregate of all feescollected by the director shall be deposited promptly after receipt andaccompanied by a detailed statement of such receipts in the residentialmortgage licensing fund; provided that fees may also be collected under therequirements of the NMLSR;
(13) To appoint a staff which may include an executive director,examiners, supervisors, experts, special assistants and any necessarysupport staff as needed to effectively and efficiently administer theprovisions of sections 443.701 to 443.893;
(14) To conduct hearings for such purposes as the director deemsappropriate; and
(15) To enter into agreements or contracts with authorizedrepresentatives of the NMLSR as appropriate to implement the NMLSR inMissouri.
2. Any rule or portion of a rule, as that term is defined in section536.010, RSMo, that is created under the authority delegated in thissection shall become effective only if it complies with and is subject toall of the provisions of chapter 536, RSMo, and, if applicable, section536.028, RSMo. This section and chapter 536, RSMo, are nonseverable and ifany 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 arule are subsequently held unconstitutional, then the grant of rulemakingauthority and any rule proposed or adopted after August 28, 2001, shall beinvalid and void.
