Records

PURPOSE: This rule prescribes the records required to be kept by a family trust company and foreign family trust company. (1) Each family trust company shall maintain a principal office physically located in this state where original or true copies of all records and accounts of the family trust company may be accessed and made readily available for examination or inspection by the director of the Missouri Division of Finance. (2) The records and accounts maintained shall be retained for at least ten (10) years and shall include the following: (A) Account information and statements relating to the minimum capital account requirements of section 362.1035.1, RSMo; (B) Account information and statements relating to any company investments not included under subsection (2)(A), above; (C) All records and accounting related to the trust company’s service in a fiduciary capacity, segregated as required under section 362.1050, RSMo; (D) General ledgers; (E) Balance sheet and income statements; (F) Operating accounts; (G) The results of and all information pertaining to any examinations prepared under section 362.1085, RSMo; (H) Records of real and personal property owned or leased by the family trust company; (I) All applicable state and local business licenses, charters, or permits; AND INSURANCE (J) The names and residence addresses of all stockholders or members of the trust company and the number of shares of stock or membership units held by each, as well as the ownership percentage of each stockholder or member; (K) The organizational instrument (articles of organization or articles of incorporation pursuant to section 362.1040, RSMo), including all amendments and restatements; (L) The bylaws or operating agreement, including all amendments; (M) Organizational chart or charts; (N) A current list of all family members which states how each family member qualifies as a family member as defined in section 362.1015, RSMo; (O) All personnel records; (P) A list identifying all affiliates; (Q) Copies of all registration and annual registration reports and exhibits submitted to the director; (R) The addresses of any branch offices; and (S) All other books of account and other records that relate to the company’s operations in the form in which they are ordinarily maintained in the course of the company’s business. (3) Each family trust company may maintain other records not required by this rule, but such records shall be made readily available for examination or inspection by the director. (4) Each foreign family trust company shall maintain and retain for at least ten (10) years, at its principal place of operations physically located in this state, the records below pertaining to its operations and business conducted in Missouri: (A) All records and accounting related to the trust company’s service in a fiduciary capacity; (B) Records of real and personal property owned or leased by the foreign family trust company; (C) All applicable state and local business licenses, charters, or permits; (D) The names and residence addresses of all stockholders or members of the trust company and the number of shares of stock or membership units held by each, as well as the ownership percentage of each stockholder or member; (E) Organization chart or charts; (F) All personnel records; (G) The addresses of any branch offices; and (H) All other books of account and other records that relate to the company’s operations in the form in which they are ordinarily maintained in the course of the company’s business. AUTHORITY: sections 362.1030, 362.1035, 362.1037, 362.1040, 362.1050, 362.1060, 362.1065, 362.1080, 362.1085, 362.1090, 362.1100, 362.1110, and 362.1116, RSMo Supp. 2017.* This rule originally filed as 15 CSR 30-120.050. Emergency rule filed Aug. 15, 2017, effective Aug. 28, 2017, expired Feb. 22, 2018. Original rule filed Aug. 15, 2017, effective March 30, 2018. Moved to 20 CSR 1140120.050, effective Aug. 28, 2024. Non-substantive change filed Aug. 28, 2024, published Oct. 31, 2024. *Original authority: 362.1030, RSMo 2017, amended 2020, 2024; 362.1035, RSMo 2017, amended 2024; 362.1037, RSMo 2017, amended 2020; 362.1040, RSMo 2017, amended 2020, 2024; 362.1050, RSMo 2017; 362.1060, RSMo 2017, amended 2024; 362.1065, RSMo 2017; 362.1080, RSMo 2017; 362.1085, RSMo 2017, amended 2024; 362.1090, RSMo 2017, amended 2024; 362.1100, RSMo 2017, amended 2024; 362.1110, RSMo 2017, amended 2024; and 362.1116, RSMo 2017, amended 2024.