Missouri § 361.981 - Prohibited authorized delegates.
Full text of Missouri Revised Statutes of Missouri § 361.981 — Prohibited authorized delegates., with citation guidance and answers to common questions.
§ 361.981. Prohibited authorized delegates.
1. The circuit court in an action brought by a licensee shall have jurisdiction to grant appropriate equitable or legal relief, including without limitation prohibiting the authorized delegate from directly or indirectly acting as an authorized delegate for any licensee in this state and the payment of restitution, damages, or other monetary relief, if the circuit court finds that an authorized delegate failed to remit money in accordance with the written contract required by subsection 2 of section 361.975* or as otherwise directed by the licensee or required by law.
2. If the circuit court issues an order prohibiting a person from acting as an authorized delegate for any licensee under subsection 1 of this section, the licensee that brought the action shall report the order to the director within thirty days and shall report the order through NMLS within ninety days.
3. An authorized delegate who holds money in trust for the benefit of a licensee and knowingly fails to remit more than one thousand dollars of such money is guilty of a class E felony.
4. An authorized delegate who holds money in trust for the benefit of a licensee and knowingly fails to remit no more than one thousand dollars of such money is guilty of a class A misdemeanor.
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(L. 2024 S.B. 1359)
*Section 361.1275 appears in original rolls, which does not exist. The "Model Money Transmission Modernization Act" contains a reference to section 8.01 which correlates to section 361.975.
---- end of effective 28 Aug 2024 ----
Frequently Asked Questions About Missouri § 361.981
What does Revised Statutes of Missouri § 361.981 cover?
Section 361.981 ("Prohibited authorized delegates.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 361.981?
A common citation format is "Revised Statutes of Missouri § 361.981" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 361.981 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.