Section 443.869

Title XXIX OWNERSHIP AND CONVEYANCE OF PROPERTY

Chapter 443

Effective - 28 Aug 2001, 2 histories, see footnote   (history) 

  443.869.  Powers and duties of director — rulemaking authority. — 1. The functions, powers and duties of the director shall include the following:

  (1) To issue or refuse to issue any license as provided in sections 443.800 to 443.893;

  (2) To revoke or suspend for cause any license issued pursuant to sections 443.800 to 443.893;

  (3) To keep records of all licenses issued pursuant to sections 443.800 to 443.893;

  (4) To receive, consider, investigate and act upon complaints made by any person in connection with any residential mortgage licensee in this state;

  (5) To consider and act upon any recommendations from the residential mortgage board;

  (6) To prescribe the forms of and receive:

  (a) Applications for licenses; and

  (b) All reports and all books and records required to be made by any residential mortgage licensee pursuant to the provisions of sections 443.800 to 443.893, including annual audited financial statements;

  (7) To adopt rules necessary and proper for the administration of sections 443.800 to 443.893;

  (8) To subpoena documents and witnesses and compel their attendance and production, to administer oaths and to require the production of any books, papers or other material relevant to any inquiry authorized by sections 443.800 to 443.893;

  (9) To require information with regard to any applicant as the director may deem desirable, with due regard to the paramount interests of the public, about the experience, background, honesty, truthfulness, integrity and competency of the applicant concerning financial transactions involving primary or subordinate mortgage financing and where the applicant is an entity other than an individual, as to the honesty, truthfulness, integrity and competency of any officer or director of the corporation, association or other entity or the members of a partnership;

  (10) To examine the books and records of every licensee at intervals as provided by sections 443.800 to 443.893 and the rules promulgated thereunder;

  (11) To enforce the provisions of sections 443.800 to 443.893;

  (12) To levy fees and charges for services performed in administering the provisions of sections 443.800 to 443.893. The aggregate of all fees collected by the director shall be deposited promptly after receipt and accompanied by a detailed statement of such receipts in the residential mortgage licensing fund;

  (13) To appoint a staff which may include an executive director, examiners, supervisors, experts, special assistants and any necessary support staff as needed to effectively and efficiently administer the provisions of sections 443.800 to 443.893; and

  (14) To conduct hearings for such purposes as the director deems appropriate.

  2. Any rule or portion of a rule, as that term is defined in section 536.010, RSMo, that is created under the authority delegated in this section shall become effective only if it complies with and is subject to all of the provisions of chapter 536, RSMo, and, if applicable, section 536.028, RSMo. This section and chapter 536, RSMo, are nonseverable and if any of the powers vested with the general assembly pursuant to chapter 536, RSMo, to review, to delay the effective date or to disapprove and annul a rule are subsequently held unconstitutional, then the grant of rulemaking authority and any rule proposed or adopted after August 28, 2001, shall be invalid and void.

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(L. 1994 S.B. 718 § 25, A.L. 1995 H.B. 63, et al., A.L. 2001 S.B. 538)