Registration statements, filing, contents, fee
A credit services organization (a business that helps people fix or improve their credit) must sign up with the state's director of finance before doing business in Missouri. When signing up, the business must share its name, address, and the names of anyone who owns 10% or more of it. The business also must report any lawsuits or complaints filed against it by a government agency, or state in writing that there are none. If anything changes, the business has 90 days to update its registration. The business must keep a copy of its registration on file and show it to customers who ask. The director of finance can charge up to $1,000 to register.
407.640. s, , contents, fee. — 1. A shall file a registration statement with the before conducting business in this state. The registration statement must contain:
(1) The name and address of the credit services organization; and
(2) The name and address of any person who directly or indirectly owns or controls ten percent or more of the in the credit services organization.
2. The registration statement must also contain either:
(1) A full and complete disclosure of any or filed by or with a governmental of this state relating to the operation of the credit services organization; or
(2) A that states that there has been no litigation or unresolved complaint filed by or with a governmental authority of this state relating to the operation of the credit services organization.
3. The credit services organization shall update the statement not later than the ninetieth day after the date on which a change in the required in the statement occurs.
4. Each credit services organization registering under this section shall maintain a copy of the registration statement in the office of the credit services organization. The credit services organization shall allow a buyer to inspect the registration statement on request.
5. The director of finance may charge each credit services organization that files a registration statement with the director of finance a reasonable fee not to exceed one thousand dollars to cover the cost of filing. The director of finance may not require a credit services organization to provide information other than that provided in the registration statement as part of the .
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Source & history notes
(L. 1991 S.B. 112 § 5, A.L. 2015 H.B. 587 merged with S.B. 345, A.L. 2023 S.B. 13, A.L. 2026 H.B. 2423)
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.