Bill Text: MO HB2201 | 2010 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Renames the Missouri Secure and Fair Enforcement for Mortgage Licensing and Residential Mortgage Brokers LIcensing Act to the Missouri Secure and Fair Enforcement for Mortgage Licensing Act

Spectrum: Partisan Bill (Republican 1-0)

Status: (Passed) 2010-07-07 - Delivered to Secretary of State (G) [HB2201 Detail]

Download: Missouri-2010-HB2201-Introduced.html

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SECOND REGULAR SESSION

HOUSE BILL NO. 2201

95TH GENERAL ASSEMBLY

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INTRODUCED BY REPRESENTATIVE COX.

5163L.01I                                                                                                                                                  D. ADAM CRUMBLISS, Chief Clerk

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AN ACT

To amend chapter 443, RSMo, by adding thereto one new section relating to residential mortgage professionals.

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Be it enacted by the General Assembly of the state of Missouri, as follows:

            Section A. Chapter 443, RSMo, is amended by adding thereto one new section, to be known as section 443.704, to read as follows:

            443.704. A financial institution, as defined in section 381.410, shall be exempt from the licensure requirements of sections 443.706 and 443.707 until such time as the Nationwide Mortgage Licensing System and Registry under the SAFE Act provisions of the federal Housing and Economic Recovery Act of 2008 is operational. The state division of finance shall notify the revisor of statutes when such system and registry becomes operational.

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