Licensing

PURPOSE: The Division of Finance, Department of Commerce and Insurance has the authority to promulgate rules necessary to enforce the laws pertaining to motor vehicle time sales. The purpose of this rule is to establish guidelines for required licensing. (1) Any location at which a sales finance company permits any person to accept or execute any forms or documents relating to motor vehicle time sales other than the place of business recited in the sales finance company registration certificate shall be deemed to be a place of business of the sales finance company and shall require a separate certificate of registration; provided, however, that no merchant dealing with motor vehicle time sales contracts issued to finance such merchant’s own sales from inventory shall be considered to be doing business in behalf of said sales finance company. AUTHORITY: section 365.060, RSMo 1986.* This rule originally filed as 4 CSR 140-4.030. Original rule filed Jan. 14, 1977, effective April 15, 1977. Moved to 20 CSR 11404.030, effective Aug. 28, 2006. Non-substantive change filed June 11, 2021, published July 31, 2021. *Original authority: 365.060, RSMo 1963, amended 1993, 1995.