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Can you summarize MOCS Title 20, Division 1140, Chapter 1?
DIVISION OF FINANCE > Organization and Description of Division
Short Summary
The Division of Finance, under the Missouri Code of State Regulations, is responsible for regulating various financial institutions and businesses. These include state-chartered banks and trust companies, state-chartered savings and loan companies, consumer credit lenders or small loan companies, financing institutions subject to the Financing Institution Licensing Law, sales finance companies subject to the Motor Vehicle Time Sales Law, sale of checks (money order) companies, mortgage broker companies, title loan companies, payday loan companies, and development finance corporations organized under Chapter 371, RSMo. The Division of Finance ensures the safety and solvency of these institutions and companies by conducting regular examinations and enforcing compliance with applicable laws. The document also outlines the licensing and registration requirements for different types of businesses. The Division of Finance is headed by the commissioner of finance, who is appointed by the governor. Contact information for the Division of Finance is provided for obtaining information or making requests.
Whom does it apply to?
Financial institutions and businesses mentioned above
What does it govern?
Regulating various financial institutions and businesses, including state-chartered banks and trust companies, state-chartered savings and loan companies, consumer credit lenders or small loan companies, financing institutions subject to the Financing Institution Licensing Law, sales finance companies subject to the Motor Vehicle Time Sales Law, sale of checks (money order) companies, mortgage broker companies, title loan companies, payday loan companies, and development finance corporations organized under Chapter 371, RSMo
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Missouri