Missouri § 365.030 - Sales finance company, license required — exceptions — application — fee.

§ 365.030. Sales finance company, license required — exceptions — application — fee.

1.  No person shall engage in the business of a sales finance company in this state without a license as provided in this chapter; except, that no bank, trust company, savings and loan association, loan and investment company or registrant under the provisions of sections 367.100 to 367.200 authorized to do business in this state is required to obtain a license under this chapter but shall comply with all of the other provisions of this chapter.

2.  The application for the license shall be in writing, under oath and in the form prescribed by the director.  The application shall contain the name of the applicant; date of incorporation, if incorporated; the address where the business is or is to be conducted and similar information as to any branch office of the applicant; the name and resident address of the owner or partners or, if a corporation or association, of the directors, trustees and principal officers, and such other pertinent information as the director may require.

3.  At the time of filing an application for licensure, the applicant shall pay a licensing fee, to be determined by the director from time to time, not to exceed five thousand dollars and a fee for each additional location where such applicant conducts business, to be determined by the director from time to time, not to exceed one thousand dollars.  Applicants who have not exceeded one hundred active accounts at any point in the previous licensing year, shall pay a licensing fee, to be determined by the director from time to time, not to exceed one thousand dollars and a fee for each additional location where such applicant conducts business, to be determined by the director from time to time, not to exceed one thousand dollars.  The licensing period shall run from January first to December thirty-first.  Thereafter, every licensee shall pay a like fee on or before December thirty-first of each year.  All license fees paid pursuant to this section shall be credited to the consumer licensing fund, established pursuant to section 361.170.

4.  Each license shall specify the location of the office or branch and must be conspicuously displayed there.  In case the location is changed, the director shall either endorse the change of location on the license or mail the licensee a certificate to that effect, without charge.

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(L. 1963 p. 466 § 3, A.L. 1986 H.B. 1195, A.L. 2003 S.B. 346, A.L. 2015 H.B. 587 merged with S.B. 345, A.L. 2023 S.B. 13, A.L. 2026 H.B. 2423)

---- end of effective  28 Aug 2026 ----

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