FIRSTREGULARSESSION
[PERFECTED]
HOUSEBILLNO.707
103RDGENERALASSEMBLY
INTRODUCEDBYREPRESENTATIVEOEHLERKING.
1495H.01P JOSEPHENGLER,ChiefClerk
ANACT
Torepealsections130.011,130.021,130.031,130.036,130.041,361.909,362.020,362.247,
362.275,362.295,362.490,427.300,and447.200,RSMo,andtoenactinlieuthereof
sixteennewsectionsrelatingtofinancialinstitutions,withpenaltyprovisions.
BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows:
SectionA.Sections130.011,130.021,130.031,130.036,130.041,361.909,362.020,
2362.247,362.275,362.295,362.490,427.300,and447.200,RSMo,arerepealedandsixteen
3newsectionsenactedinlieuthereof,tobeknownassections130.011,130.021,130.031,
4130.036,130.041,361.909,362.020,362.247,362.275,362.295,362.424,362.490,370.245,
5425.310,427.300,and570.148,toreadasfollows:
130.011.Asusedinthischapter,unlessthecontextclearlyindicatesotherwise,the
2followingtermsmean:
3 (1)"Appropriateofficer"or"appropriateofficers",thepersonorpersonsdesignated
4insection130.026toreceivecertainrequiredstatementsandreports;
5 (2)"Ballotmeasure"or"measure",anyproposalsubmittedorintendedtobe
6submittedtoqualifiedvotersfortheirapprovalorrejection,includinganyproposalsubmitted
7byinitiativepetition,referendumpetition,orbythegeneralassemblyoranylocal
8governmentalbodyhavingauthoritytoreferproposalstothevoter;
9 (3)"Candidate",anindividualwhoseeksnominationorelectiontopublicoffice.The
10term"candidate"includesanelectedofficeholderwhoisthesubjectofarecallelection,an
11individualwhoseeksnominationbytheindividual'spoliticalpartyforelectiontopublic
12office,anindividualstandingforretentioninanelectiontoanofficetowhichtheindividual
EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis
intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 13waspreviouslyappointed,anindividualwhoseeksnominationorelectionwhetherornotthe
14specificelectivepublicofficetobesoughthasbeenfinallydeterminedbysuchindividualat
15thetimetheindividualmeetstheconditionsdescribedinparagraph(a)or(b)ofthis
16subdivision,andanindividualwhoisawrite-incandidateasdefinedinsubdivision(28)of
17thissection.Acandidateshallbedeemedtoseeknominationorelectionwhentheperson
18first:
19 (a)Receivescontributionsormakesexpendituresorreservesspaceorfacilitieswith
20intenttopromotetheperson'scandidacyforoffice;or
21 (b)Knowsorhasreasontoknowthatcontributionsarebeingreceivedor
22expendituresarebeingmadeorspaceorfacilitiesarebeingreservedwiththeintentto
23promotetheperson'scandidacyforoffice;exceptthat,suchindividualshallnotbedeemeda
24candidateifthepersonfilesastatementwiththeappropriateofficerwithinfivedaysafter
25learningofthereceiptofcontributions,themakingofexpenditures,orthereservationof
26spaceorfacilitiesdisavowingthecandidacyandstatingthatthepersonwillnotaccept
27nominationortakeofficeifelected;providedthat,iftheelectionatwhichsuchindividualis
28supportedasacandidateistotakeplacewithinfivedaysaftertheperson'slearningofthe
29above-specifiedactivities,theindividualshallfilethestatementdisavowingthecandidacy
30withinoneday;or
31 (c)Announcesorfilesadeclarationofcandidacyforoffice;
32 (4)"Cash",currency,coin,UnitedStatespostagestamps,oranynegotiable
33instrumentwhichcanbetransferredfromonepersontoanotherpersonwithoutthesignature
34orendorsementofthetransferor;
35 (5)"Check",acheckdrawnonastateorfederalbank,oradraftonanegotiableorder
36ofwithdrawalaccountinasavingsandloanassociationorasharedraftaccountinacredit
37union;
38 (6)"Closingdate",thedatethroughwhichastatementorreportisrequiredtobe
39complete;
40 (7)"Committee",apersonoranycombinationofpersons,whoacceptscontributions
41ormakesexpendituresfortheprimaryorincidentalpurposeofinfluencingorattemptingto
42influencetheactionofvotersfororagainstthenominationorelectiontopublicofficeofone
43ormorecandidatesorthequalification,passageordefeatofanyballotmeasureorforthe
44purposeofpayingapreviouslyincurredcampaigndebtorobligationofacandidateorthe
45debtsorobligationsofacommitteeorforthepurposeofcontributingfundstoanother
46committee:
47 (a)"Committee",doesnotinclude:
48 a.Apersonorcombinationofpersons,ifneithertheaggregateofexpendituresmade
49northeaggregateofcontributionsreceivedduringacalendaryearexceedsfivehundred
HB707 2 50dollarsandifnosinglecontributorhascontributedmorethantwohundredfiftydollarsof
51suchaggregatecontributions;
52 b.Anindividual,otherthanacandidate,whoacceptsnocontributionsandwhodeals
53onlywiththeindividual'sownfundsorproperty;
54 c.Acorporation,cooperativeassociation,partnership,proprietorship,orjointventure
55organizedoroperatedforaprimaryorprincipalpurposeotherthanthatofinfluencingor
56attemptingtoinfluencetheactionofvotersfororagainstthenominationorelectiontopublic
57officeofoneormorecandidatesorthequalification,passageordefeatofanyballotmeasure,
58anditacceptsnocontributions,andallexpendituresitmakesarefromitsownfundsor
59propertyobtainedintheusualcourseofbusinessorinanycommercialorothertransaction
60andwhicharenotcontributionsasdefinedbysubdivision(12)ofthissection;
61 d.Alabororganizationorganizedoroperatedforaprimaryorprincipalpurposeother
62thanthatofinfluencingorattemptingtoinfluencetheactionofvotersfororagainstthe
63nominationorelectiontopublicofficeofoneormorecandidates,orthequalification,
64passage,ordefeatofanyballotmeasure,anditacceptsnocontributions,andexpenditures
65madebytheorganizationarefromitsownfundsorpropertyreceivedfrommembershipdues
66ormembershipfeeswhichweregivenorsolicitedforthepurposeofsupportingthenormal
67andusualactivitiesandfunctionsoftheorganizationandwhicharenotcontributionsas
68definedbysubdivision(12)ofthissection;
69 e.Apersonwhoactsasanauthorizedagentforacommitteeinsolicitingorreceiving
70contributionsorinmakingexpendituresorincurringindebtednessonbehalfofthecommittee
71ifsuchpersonrenderstothecommitteetreasurerordeputytreasurerorcandidate,if
72applicable,anaccurateaccountofeachreceiptorothertransactioninthedetailrequiredby
73thetreasurertocomplywithallrecord-keepingandreportingrequirementsofthischapter;
74 f.Anydepartment,agency,board,institutionorotherentityofthestateoranyofits
75subdivisionsoranyofficeroremployeethereof,actingintheperson'sofficialcapacity;
76 (b)Theterm"committee"includes,butisnotlimitedto,eachofthefollowing
77committees:campaigncommittee,candidatecommittee,continuingcommitteeandpolitical
78partycommittee;
79 (8)"Campaigncommittee",acommittee,otherthanacandidatecommittee,which
80shallbeformedbyanindividualorgroupofindividualstoreceivecontributionsormake
81expendituresandwhosesolepurposeistosupportoropposethequalificationandpassageof
82oneormoreparticularballotmeasuresinanelectionortheretentionofjudgesunderthe
83nonpartisancourtplan,suchcommitteeshallbeformednolaterthanthirtydayspriortothe
84electionforwhichthecommitteereceivescontributionsormakesexpenditures,andwhich
85shallterminatethelaterofeitherthirtydaysafterthegeneralelectionoruponthesatisfaction
HB707 3 86ofallcommitteedebtafterthegeneralelection,exceptthatnocommitteeretiringdebtshall
87engageinanyotheractivitiesinsupportofameasureforwhichthecommitteewasformed;
88 (9)"Candidatecommittee",acommitteewhichshallbeformedbyacandidateto
89receivecontributionsormakeexpendituresinbehalfoftheperson'scandidacyandwhich
90shallcontinueinexistenceforusebyanelectedcandidateorwhichshallterminatethelaterof
91eitherthirtydaysafterthegeneralelectionforacandidatewhowasnotelectedoruponthe
92satisfactionofallcommitteedebtaftertheelection,exceptthatnocommitteeretiringdebt
93shallengageinanyotheractivitiesinsupportofthecandidateforwhichthecommitteewas
94formed.Anycandidateforelectiveofficeshallhaveonlyonecandidatecommitteeforthe
95electiveofficesought,whichiscontrolleddirectlybythecandidateforthepurposeofmaking
96expenditures.Acandidatecommitteeispresumedtobeunderthecontrolanddirectionofthe
97candidateunlessthecandidatefilesanaffidavitwiththeappropriateofficerstatingthatthe
98committeeisactingwithoutcontrolordirectiononthecandidate'spart;
99 (10)"Continuingcommittee",acommitteeofcontinuingexistencewhichisnot
100formed,controlledordirectedbyacandidate,andisacommitteeotherthanacandidate
101committeeorcampaigncommittee,whoseprimaryorincidentalpurposeistoreceive
102contributionsormakeexpenditurestoinfluenceorattempttoinfluencetheactionofvoters
103whetherornotaparticularcandidateorcandidatesoraparticularballotmeasureormeasures
104tobesupportedoropposedhasbeendeterminedatthetimethecommitteeisrequiredtofile
105anystatementorreportpursuanttotheprovisionsofthischapter."Continuingcommittee"
106includes,butisnotlimitedto,anycommitteeorganizedorsponsoredbyabusinessentity,a
107labororganization,aprofessionalassociation,atradeorbusinessassociation,acluborother
108organizationandwhoseprimarypurposeistosolicit,acceptandusecontributionsfromthe
109members,employeesorstockholdersofsuchentityandanyindividualorgroupofindividuals
110whoacceptandusecontributionstoinfluenceorattempttoinfluencetheactionofvoters.
111Suchcommitteeshallbeformednolaterthansixtydayspriortotheelectionforwhichthe
112committeereceivescontributionsormakesexpenditures;
113 (11)"Connectedorganization",anyorganizationsuchasacorporation,alabor
114organization,amembershiporganization,acooperative,ortradeorprofessionalassociation
115whichexpendsfundsorprovidesservicesorfacilitiestoestablish,administerormaintaina
116committeeortosolicitcontributionstoacommitteefromitsmembers,officers,directors,
117employeesorsecurityholders.Anorganizationshallbedeemedtobetheconnected
118organizationifmorethanfiftypercentofthepersonsmakingcontributionstothecommittee
119duringthecurrentcalendaryeararemembers,officers,directors,employeesorsecurity
120holdersofsuchorganizationortheirspouses;
121 (12)"Contribution",apayment,gift,loan,advance,deposit,ordonationofmoneyor
122anythingofvalueforthepurposeofsupportingoropposingthenominationorelectionofany
HB707 4 123candidateforpublicofficeorthequalification,passageordefeatofanyballotmeasure,orfor
124thesupportofanycommitteesupportingoropposingcandidatesorballotmeasuresorfor
125payingdebtsorobligationsofanycandidateorcommitteepreviouslyincurredfortheabove
126purposes.Acontributionofanythingofvalueshallbedeemedtohaveamoneyvalue
127equivalenttothefairmarketvalue."Contribution"includes,butisnotlimitedto:
128 (a)Acandidate'sownmoneyorpropertyusedinsupportoftheperson'scandidacy
129otherthanexpenseofthecandidate'sfood,lodging,travel,andpaymentofanyfeenecessary
130tothefilingforpublicoffice;
131 (b)Paymentbyanyperson,otherthanacandidateorcommittee,tocompensate
132anotherpersonforservicesrenderedtothatcandidateorcommittee;
133 (c)Receiptsfromthesaleofgoodsandservices,includingthesaleofadvertising
134spaceinabrochure,booklet,programorpamphletofacandidateorcommitteeandthesaleof
135ticketsorpoliticalmerchandise;
136 (d)Receiptsfromfund-raisingeventsincludingtestimonialaffairs;
137 (e)Anyloan,guaranteeofaloan,cancellationorforgivenessofaloanordebtor
138otherobligationbyathirdparty,orpaymentofaloanordebtorotherobligationbyathird
139partyiftheloanordebtorotherobligationwascontracted,used,orintended,inwholeorin
140part,foruseinanelectioncampaignorusedorintendedforthepaymentofsuchdebtsor
141obligationsofacandidateorcommitteepreviouslyincurred,orwhichwasmadeorreceived
142byacommittee;
143 (f)Fundsreceivedbyacommitteewhicharetransferredtosuchcommitteefrom
144anothercommitteeorothersource,exceptfundsreceivedbyacandidatecommitteeasa
145transferoffundsfromanothercandidatecommitteecontrolledbythesamecandidatebutsuch
146transfershallbeincludedinthedisclosurereports;
147 (g)Facilities,officespaceorequipmentsuppliedbyanypersontoacandidateor
148committeewithoutchargeoratreducedcharges,exceptgratuitousspaceformeeting
149purposeswhichismadeavailableregularlytothepublic,includingothercandidatesor
150committees,onanequalbasisforsimilarpurposesonthesameconditions;
151 (h)Thedirectorindirectpaymentbyanyperson,otherthanaconnectedorganization,
152ofthecostsofestablishing,administering,ormaintainingacommittee,includinglegal,
153accountingandcomputerservices,fundraisingandsolicitationofcontributionsfora
154committee;
155 (i)"Contribution"doesnotinclude:
156 a.Ordinaryhomehospitalityorservicesprovidedwithoutcompensationby
157individualsvolunteeringtheirtimeinsupportoforinoppositiontoacandidate,committeeor
158ballotmeasure,northenecessaryandordinarypersonalexpensesofsuchvolunteers
HB707 5 159incidentaltotheperformanceofvoluntaryactivities,solongasnocompensationisdirectlyor
160indirectlyaskedorgiven;
161 b.Anofferortenderofacontributionwhichisexpresslyandunconditionallyrejected
162andreturnedtothedonorwithintenbusinessdaysafterreceiptortransmittedtothestate
163treasurer;
164 c.Interestearnedondepositofcommitteefunds;
165 d.Thecostsincurredbyanyconnectedorganizationlistedpursuanttosubdivision(4)
166ofsubsection5ofsection130.021forestablishing,administeringormaintainingacommittee,
167orforthesolicitationofcontributionstoacommitteewhichsolicitationissolelydirectedor
168relatedtothemembers,officers,directors,employeesorsecurityholdersoftheconnected
169organization;
170 (13)"County",anyoneoftheseveralcountiesofthisstateorthecityofSt.Louis;
171 (14)"Disclosurereport",anitemizedreportofreceipts,expendituresandincurred
172indebtednesswhichispreparedonformsapprovedbytheMissouriethicscommissionand
173filedatthetimesandplacesprescribed;
174 (15)"Election",anyprimary,generalorspecialelectionheldtonominateorelectan
175individualtopublicoffice,toretainorrecallanelectedofficeholderortosubmitaballot
176measuretothevoters,andanycaucusorothermeetingofapoliticalpartyorapoliticalparty
177committeeatwhichthatparty'scandidateorcandidatesforpublicofficeareofficially
178selected.Aprimaryelectionandthesucceedinggeneralelectionshallbeconsideredseparate
179elections;
180 (16)"Electronicmeans",anyinstrument,device,orservicethatfacilitatesan
181electronicwithdrawaloffundsfromabankaccountincluding,butnotlimitedto,credit
182cards,debitcards,andthepresentationofacreditordebitcardaccountnumber;
183 (17)"Expenditure",apayment,advance,conveyance,deposit,donationor
184contributionofmoneyoranythingofvalueforthepurposeofsupportingoropposingthe
185nominationorelectionofanycandidateforpublicofficeorthequalificationorpassageofany
186ballotmeasureorforthesupportofanycommitteewhichinturnsupportsoropposesany
187candidateorballotmeasureorforthepurposeofpayingapreviouslyincurredcampaigndebt
188orobligationofacandidateorthedebtsorobligationsofacommittee;apayment,oran
189agreementorpromisetopay,moneyoranythingofvalue,includingacandidate'sownmoney
190orproperty,forthepurchaseofgoods,services,property,facilitiesoranythingofvaluefor
191thepurposeofsupportingoropposingthenominationorelectionofanycandidateforpublic
192officeorthequalificationorpassageofanyballotmeasureorforthesupportofany
193committeewhichinturnsupportsoropposesanycandidateorballotmeasureorforthe
194purposeofpayingapreviouslyincurredcampaigndebtorobligationofacandidateorthe
195debtsorobligationsofacommittee.Anexpenditureofanythingofvalueshallbedeemedto
HB707 6 196haveamoneyvalueequivalenttothefairmarketvalue."Expenditure"includes,butisnot
197limitedto:
198 (a)Paymentbyanyoneotherthanacommitteeforservicesofanotherperson
199renderedtosuchcommittee;
200 (b)Thepurchaseoftickets,goods,servicesorpoliticalmerchandiseinconnection
201withanytestimonialaffairorfund-raisingeventoforforcandidatesorcommittees,orthe
202purchaseofadvertisinginabrochure,booklet,programorpamphletofacandidateor
203committee;
204 (c)Thetransferoffundsbyonecommitteetoanothercommittee;
205 (d)Thedirectorindirectpaymentbyanyperson,otherthanaconnectedorganization
206foracommittee,ofthecostsofestablishing,administeringormaintainingacommittee,
207includinglegal,accountingandcomputerservices,fundraisingandsolicitationof
208contributionsforacommittee;but
209 (e)"Expenditure"doesnotinclude:
210 a.Anynewsstory,commentaryoreditorialwhichisbroadcastorpublishedbyany
211broadcastingstation,newspaper,magazineorotherperiodicalwithoutchargetothecandidate
212ortoanypersonsupportingoropposingacandidateorballotmeasure;
213 b.Theinternaldisseminationbyanymembershiporganization,proprietorship,labor
214organization,corporation,associationorotherentityofinformationadvocatingtheelectionor
215defeatofacandidateorcandidatesorthepassageordefeatofaballotmeasureormeasuresto
216itsdirectors,officers,members,employeesorsecurityholders,providedthatthecostincurred
217isreportedpursuanttosubsection2ofsection130.051;
218 c.Repaymentofaloan,butsuchrepaymentshallbeindicatedinrequiredreports;
219 d.Therenderingofvoluntarypersonalservicesbyanindividualofthesort
220commonlyperformedbyvolunteercampaignworkersandthepaymentbysuchindividualof
221theindividual'snecessaryandordinarypersonalexpensesincidentaltosuchvolunteer
222activity,providednocompensationis,directlyorindirectly,askedorgiven;
223 e.Thecostsincurredbyanyconnectedorganizationlistedpursuanttosubdivision(4)
224ofsubsection5ofsection130.021forestablishing,administeringormaintainingacommittee,
225orforthesolicitationofcontributionstoacommitteewhichsolicitationissolelydirectedor
226relatedtothemembers,officers,directors,employeesorsecurityholdersoftheconnected
227organization;
228 f.Theuseofacandidate'sownmoneyorpropertyforexpenseofthecandidate's
229personalfood,lodging,travel,andpaymentofanyfeenecessarytothefilingforpublicoffice,
230ifsuchexpenseisnotreimbursedtothecandidatefromanysource;
231 [(17)] (18)"Exploratorycommittees",acommitteewhichshallbeformedbyan
232individualtoreceivecontributionsandmakeexpendituresonbehalfofthisindividualin
HB707 7 233determiningwhetherornottheindividualseekselectiveoffice.Suchcommitteeshall
234terminatenolaterthanDecemberthirty-firstoftheyearpriortothegeneralelectionforthe
235possibleoffice;
236 [(18)] (19)"Fund-raisingevent",aneventsuchasadinner,luncheon,reception,
237coffee,testimonial,rally,auctionorsimilaraffairthroughwhichcontributionsaresolicitedor
238receivedbysuchmeansasthepurchaseoftickets,paymentofattendancefees,donationsfor
239prizesorthroughthepurchaseofgoods,servicesorpoliticalmerchandise;
240 [(19)] (20)"In-kindcontribution"or"in-kindexpenditure",acontributionor
241expenditureinaformotherthanmoney;
242 [(20)] (21)"Labororganization",anyorganizationofanykind,oranyagencyor
243employeerepresentationcommitteeorplan,inwhichemployeesparticipateandwhichexists
244forthepurpose,inwholeorinpart,ofdealingwithemployersconcerninggrievances,labor
245disputes,wages,ratesofpay,hoursofemployment,orconditionsofwork;
246 [(21)] (22)"Loan",atransferofmoney,propertyoranythingofascertainable
247monetaryvalueinexchangeforanobligation,conditionalornot,torepayinwholeorinpart
248andwhichwascontracted,used,orintendedforuseinanelectioncampaign,orwhichwas
249madeorreceivedbyacommitteeorwhichwascontracted,used,orintendedtopay
250previouslyincurredcampaigndebtsorobligationsofacandidateorthedebtsorobligationsof
251acommittee;
252 [(22)] (23)"Person",anindividual,groupofindividuals,corporation,partnership,
253committee,proprietorship,jointventure,anydepartment,agency,board,institutionorother
254entityofthestateoranyofitspoliticalsubdivisions,union,labororganization,tradeor
255professionalorbusinessassociation,association,politicalpartyoranyexecutivecommittee
256thereof,oranyotherclubororganizationhoweverconstitutedoranyofficeroremployeeof
257suchentityactingintheperson'sofficialcapacity;
258 [(23)] (24)"Politicalmerchandise",goodssuchasbumperstickers,pins,hats,ties,
259jewelry,literature,orotheritemssoldordistributedatafund-raisingeventortothegeneral
260publicforpublicityorforthepurposeofraisingfundstobeusedinsupportingoropposinga
261candidatefornominationorelectionorinsupportingoropposingthequalification,passageor
262defeatofaballotmeasure;
263 [(24)] (25)"Politicalparty",apoliticalpartywhichhastherightunderlawtohavethe
264namesofitscandidateslistedontheballotinageneralelection;
265 [(25)] (26)"Politicalpartycommittee",astate,district,county,city,orarea
266committeeofapoliticalparty,asdefinedinsection115.603,whichmaybeorganizedasa
267not-for-profitcorporationunderMissourilaw,andwhichcommitteeisofcontinuing
268existence,andhastheprimaryorincidentalpurposeofreceivingcontributionsandmaking
HB707 8 269expenditurestoinfluenceorattempttoinfluencetheactionofvotersonbehalfofthepolitical
270party;
271 [(26)] (27)"Publicoffice"or"office",anystate,judicial,county,municipal,schoolor
272otherdistrict,ward,township,orotherpoliticalsubdivisionofficeoranypoliticalpartyoffice
273whichisfilledbyavoteofregisteredvoters;
274 [(27)] (28)"Regularsession",includesthatperiodbeginningonthefirstWednesday
275afterthefirstMondayinJanuaryandendingfollowingthefirstFridayafterthesecond
276MondayinMay;
277 [(28)] (29)"Write-incandidate",anindividualwhosenameisnotprintedonthe
278ballotbutwhootherwisemeetsthedefinitionofcandidateinsubdivision(3)ofthissection.
130.021.1.Everycommitteeshallhaveatreasurerwho,exceptasprovidedin
2subsection10ofthissection,shallbearesidentofthisstateandresideinthedistrictorcounty
3inwhichthecommitteesits.Acommitteemayalsohaveadeputytreasurerwho,exceptas
4providedinsubsection10ofthissection,shallbearesidentofthisstateandresideinthe
5districtorcountyinwhichthecommitteesits,toserveinthecapacityofcommitteetreasurer
6intheeventthecommitteetreasurerisunableforanyreasontoperformthetreasurer'sduties.
7 2.Everycandidateforofficeslistedinsubsection1ofsection130.016whohasnot
8filedastatementofexemptionpursuanttothatsubsectionandeverycandidateforoffices
9listedinsubsection6ofsection130.016whoisnotexcludedfromfilingastatementof
10organizationanddisclosurereportspursuanttosubsection6ofsection130.016shallforma
11candidatecommitteeandappointatreasurer.Thereafter,allcontributionsonhandandall
12furthercontributionsreceivedbysuchcandidateandanyofthecandidate'sownfundstobe
13usedinsupportoftheperson'scandidacyshallbedepositedinacandidatecommittee
14depositoryaccountestablishedpursuanttotheprovisionsofsubsection4ofthissection,and
15allexpendituresshallbemadethroughthecandidate,treasurerordeputytreasurerofthe
16person'scandidatecommittee.Nothinginthischaptershallpreventacandidatefrom
17appointinghimselforherselfasacommitteeofoneandservingastheperson'sowntreasurer,
18maintainingthecandidate'sownrecordsandfilingallthereportsandstatementsrequiredto
19befiledbythetreasurerofacandidatecommittee.
20 3.Acandidatewhohasmorethanonecandidatecommitteesupportingtheperson's
21candidacyshalldesignateoneofthosecandidatecommitteesasthecommitteeresponsiblefor
22consolidatingtheaggregatecontributionstoallsuchcommitteesunderthecandidate'scontrol
23anddirectionasrequiredbysection130.041.
24 4.(1)Everycommitteeshallhaveasingleofficialfunddepositorywithinthisstate
25whichshallbeafederallyorstate-charteredbank,afederallyorstate-charteredsavingsand
26loanassociation,orafederallyorstate-charteredcreditunioninwhichthecommitteeshall
27openandthereaftermaintainatleastoneofficialdepositoryaccountinitsownname.An
HB707 9 28"officialdepositoryaccount"shallbeacheckingaccountorsometypeofnegotiabledraftor
29negotiableorderofwithdrawalaccount,andtheofficialfunddepositoryshall,regardingan
30officialdepositoryaccount,beatypeoffinancialinstitutionwhichprovidesarecordof
31deposits,cancelledchecksorothercancelledinstrumentsofwithdrawalevidencingeach
32transactionbymaintainingcopieswithinthisstateofsuchinstrumentsandothertransactions.
33Allcontributionswhichthecommitteereceivesinmoney,checksandothernegotiable
34instrumentsshallbedepositedinacommittee'sofficialdepositoryaccount.Contributions
35shallnotbeacceptedandexpendituresshallnotbemadebyacommitteeexceptbyorthrough
36anofficialdepositoryaccountandthecommitteetreasurer,deputytreasurerorcandidate;
37however,acommitteemayutilizeacreditcardordebitcardinthenameofthe
38committeewhenauthorizedbythetreasurer,deputytreasurer,orcandidate,provided
39thatallexpendituresmadebythecommitteethroughacreditcardarepaidthroughthe
40officialdepositoryaccount. Contributionsreceivedbyacommitteeshallnotbecommingled
41withanyfundsofanagentofthecommittee,acandidateoranyotherperson,exceptthat
42contributionsfromacandidateofthecandidate'sownfundstotheperson'scandidate
43committeeshallbedepositedtoanofficialdepositoryaccountoftheperson'scandidate
44committee.Noexpenditureshallbemadebyacommitteewhentheofficeofcommittee
45treasurerisvacantexceptthatwhentheofficeofacandidatecommitteetreasurerisvacant,
46thecandidateshallbethetreasureruntilthecandidateappointsanewtreasurer.
47 (2)Acommitteetreasurer,deputytreasurerorcandidatemaywithdrawfundsfroma
48committee'sofficialdepositoryaccountanddepositsuchfundsinoneormoresavings
49accountsinthecommittee'snameinanybank,savingsandloanassociationorcreditunion
50withinthisstate,andmayalsowithdrawfundsfromanofficialdepositoryaccountfor
51investmentinthecommittee'snameinanycertificateofdeposit,bondorsecurity.Proceeds
52frominterestordividendsfromasavingsaccountorotherinvestmentorproceedsfrom
53withdrawalsfromasavingsaccountorfromthesaleofaninvestmentshallnotbeexpended
54orreinvested,exceptinthecaseofrenewalsofcertificatesofdeposit,withoutfirst
55redepositingsuchproceedsinanofficialdepositoryaccount.Investments,otherthansavings
56accounts,heldoutsidethecommittee'sofficialdepositoryaccountatanytimeduringa
57reportingperiodshallbedisclosedbydescription,amount,anyidentifyingnumbersandthe
58nameandaddressofanyinstitutionorpersoninwhichorthroughwhichitisheldinan
59attachmenttodisclosurereportsthecommitteeisrequiredtofile.Proceedsfroman
60investmentsuchasinterestordividendsorproceedsfromitssale,shallbereportedbydate
61andamount.Inthecaseofthesaleofaninvestment,thenamesandaddressesofthepersons
62involvedinthetransactionshallalsobestated.Fundsheldinsavingsaccountsand
63investments,includinginterestearned,shallbeincludedinthereportofmoneyonhandas
64requiredbysection130.041.
HB707 10 65 (3)Notwithstandinganyotherprovisionoflawtothecontrary,fundsheldin
66candidatecommittees,campaigncommittees,debtservicecommittees,andexploratory
67committeesshallbeliquidsuchthatthesefundsshallbereadilyavailableforthespecificand
68limitedpurposesallowedbylaw.Thesefundsmaybeinvestedonlyinshort-termtreasury
69instrumentsorshort-termbankcertificateswithdurationsofoneyearorless,orthatallowthe
70removaloffundsatanytimewithoutanyadditionalfinancialpenaltyotherthanthelossof
71interestincome.Continuingcommittees,politicalpartycommittees,andothercommittees
72suchasout-of-statecommitteesnotformedforthebenefitofanysinglecandidateorballot
73issueshallnotbesubjecttotheprovisionsofthissubdivision.Thissubdivisionshallnotbe
74interpretedtorestricttheplacementoffundsinaninterest-bearingcheckingaccount.
75 5.Thetreasurerordeputytreasureractingonbehalfofanypersonororganizationor
76groupofpersonswhichisacommitteebyvirtueofthedefinitionsofcommitteeinsection
77130.011andanycandidatewhoisnotexcludedfromformingacommitteeinaccordancewith
78theprovisionsofsection130.016shallfileastatementoforganizationwiththeappropriate
79officerwithintwentydaysafterthepersonororganizationbecomesacommitteebutnolater
80thanthedateforfilingthefirstreportrequiredpursuanttotheprovisionsofsection130.046.
81Thestatementoforganizationshallcontainthefollowinginformation:
82 (1)Thename,mailingaddressandtelephonenumber,ifany,ofthecommitteefiling
83thestatementoforganization.Ifthecommitteeisdeemedtobeaffiliatedwithaconnected
84organizationasprovidedinsubdivision(11)ofsection130.011,thenameoftheconnected
85organization,oralegallyregisteredfictitiousnamewhichreasonablyidentifiestheconnected
86organization,shallappearinthenameofthecommittee.Ifthecommitteeisacandidate
87committee,thenameofthecandidateshallbeapartofthecommittee'sname;
88 (2)Thename,mailingaddressandtelephonenumberofthecandidate;
89 (3)Thename,mailingaddressandtelephonenumberofthecommitteetreasurer,and
90thename,mailingaddressandtelephonenumberofitsdeputytreasurerifthecommitteehas
91namedadeputytreasurer;
92 (4)[Thenames,mailingaddressesandtitlesofitsofficers,ifany;
93 (5)]Thenameandmailingaddressofanyconnectedorganizationswithwhichthe
94committeeisaffiliated;
95 (5)Thenames,mailingaddresses,andtitlesofitsofficers,ifany;
96 (6)Thenameandmailingaddressofitsdepository,[and] thenameandaccount
97numberofeachaccountthecommitteehasinthedepository, andtheaccountnumberand
98issuerofanycreditcardinthecommittee'sname. Theaccountnumberofeachaccount
99shallberedactedpriortodisclosingthestatementtothepublic;
HB707 11 100 (7)Identificationofthemajornatureofthecommitteesuchasacandidatecommittee,
101campaigncommittee,continuingcommittee,politicalpartycommittee,incumbentcommittee,
102oranyothercommitteeaccordingtothedefinitionofcommitteeinsection130.011;
103 (8)Inthecaseofthecandidatecommitteedesignatedinsubsection3ofthissection,
104thefullnameandaddressofeachothercandidatecommitteewhichisunderthecontroland
105directionofthesamecandidate,togetherwiththename,addressandtelephonenumberofthe
106treasurerofeachsuchothercommittee;
107 (9)Thenameandofficesoughtofeachcandidatesupportedoropposedbythe
108committee;
109 (10)Theballotmeasureconcerned,ifany,andwhetherthecommitteeisinfavorofor
110opposedtosuchmeasure.
111 6.Acommitteemayomittheinformationrequiredinsubdivisions(9)and(10)of
112subsection5ofthissectionif,onthedateonwhichitisrequiredtofileastatementof
113organization,thecommitteehasnotyetdeterminedtheparticularcandidatesorparticular
114ballotmeasuresitwillsupportoroppose.
115 7.Acommitteewhichhasfiledastatementoforganizationandhasnotterminated
116shallnotberequiredtofileanotherstatementoforganization,exceptthatwhenthereisa
117changeinanyoftheinformationpreviouslyreportedasrequiredbysubdivisions(1)to(8)of
118subsection5ofthissectionanamendedstatementoforganizationshallbefiledwithintwenty
119daysafterthechangeoccurs,butnolaterthanthedateofthefilingofthenextreportrequired
120tobefiledbythatcommitteebysection130.046.
121 8.Uponterminationofacommittee,aterminationstatementindicatingdissolution
122shallbefilednotlaterthantendaysafterthedateofdissolutionwiththeappropriateofficeror
123officerswithwhomthecommittee'sstatementoforganizationwasfiled.Thetermination
124statementshallinclude:thedistributionmadeofanyremainingsurplusfundsandthe
125dispositionofanydeficits;andthename,mailingaddressandtelephonenumberofthe
126individualresponsibleforpreservingthecommittee'srecordsandaccountsasrequiredin
127section130.036.
128 9.Anystatementrequiredbythissectionshallbesignedandattestedbythe
129committeetreasurerordeputytreasurer,andbythecandidateinthecaseofacandidate
130committee.
131 10.Acommitteedomiciledoutsidethisstateshallberequiredtofileastatementof
132organizationandappointatreasurerresidinginthisstateandopenanaccountinadepository
133withinthisstate;providedthateitherofthefollowingconditionsprevails:
134 (1)Theaggregateofallcontributionsreceivedfrompersonsdomiciledinthisstate
135exceedstwentypercentintotaldollaramountofallfundsreceivedbythecommitteeinthe
136precedingtwelvemonths;or
HB707 12 137 (2)Theaggregateofallcontributionsandexpendituresmadetosupportoroppose
138candidatesandballotmeasuresinthisstateexceedsonethousandfivehundreddollarsinthe
139currentcalendaryear.
140 11.Ifacommitteedomiciledinthisstatereceivesacontributionofonethousandfive
141hundreddollarsormorefromanycommitteedomiciledoutsideofthisstate,thecommittee
142domiciledinthisstateshallfileadisclosurereportwiththecommission.Thereportshall
143disclosethefullname,mailingaddress,telephonenumbersanddomicileofthecontributing
144committeeandthedateandamountofthecontribution.Thereportshallbefiledwithinforty-
145eighthoursofthereceiptofsuchcontributionifthecontributionisreceivedafterthelast
146reportingdatebeforetheelection.
147 12.Eachlegislativeandsenatorialdistrictcommitteeshallretainonlyoneaddressin
148thedistrictitsitsforthepurposeofreceivingcontributions.
130.031.1.Nocontributionofcashinanamountofmorethanonehundreddollars
2shallbemadebyoracceptedfromanysinglecontributorforanyelectionbyacontinuing
3committee,acampaigncommittee,apoliticalpartycommittee,anexploratorycommitteeora
4candidatecommittee.
5 2.[Exceptforexpendituresfromapettycashfundwhichisestablishedand
6maintainedbywithdrawalsoffundsfromthecommittee'sdepositoryaccountandwith
7recordsmaintainedpursuanttotherecord-keepingrequirementsofsection130.036toaccount
8forexpendituresmadefrompettycash,] Eachexpenditureofmorethanfiftydollars,except
9anin-kindexpenditure,shallbemadebychecksignedbythecommitteetreasurer,deputy
10treasurer,orcandidateorbyotherelectronicmeansauthorizedbythetreasurer,deputy
11treasurer,orcandidateanddrawnonthecommittee'sdepository[andsignedbythe
12committeetreasurer,deputytreasurerorcandidate] orcreditcardinthenameofthe
13committeeandauthorizedbythetreasurer,deputytreasurer,orcandidate. Asingle
14expenditure[fromapetty] ofcash[fund] shallnotexceedfiftydollars,andtheaggregateof
15allexpenditures[fromapetty] ofcash[fund] duringacalendaryearshallnotexceedthe
16lesseroffivethousanddollarsortenpercentofallexpendituresmadebythecommittee
17duringthatcalendaryear.[Acheckmadepayableto"cash"shallnotbemadeexceptto
18replenishapettycashfund.]
19 3.Nocontributionshallbemadeoracceptedandnoexpenditureshallbemadeor
20incurred,directlyorindirectly,inafictitiousname,inthenameofanotherperson,orbyor
21throughanotherpersoninsuchamannerastoconcealtheidentityoftheactualsourceofthe
22contributionortheactualrecipientandpurposeoftheexpenditure.Anypersonwhoreceives
23contributionsforacommitteeshalldisclosetothatcommittee'streasurer,deputytreasureror
24candidatetherecipient'sownnameandaddressandthenameandaddressoftheactualsource
25ofeachcontributionsuchpersonhasreceivedforthatcommittee.Anypersonwhomakes
HB707 13 26expendituresforacommitteeshalldisclosetothatcommittee'streasurer,deputytreasureror
27candidatesuchperson'sownnameandaddress,thenameandaddressofeachpersontowhom
28anexpenditurehasbeenmadeandtheamountandpurposeoftheexpendituresthepersonhas
29madeforthatcommittee.
30 4.Noanonymouscontributionofmorethantwenty-fivedollarsshallbemadebyany
31person,andnoanonymouscontributionofmorethantwenty-fivedollarsshallbeacceptedby
32anycandidateorcommittee.Ifanyanonymouscontributionofmorethantwenty-fivedollars
33isreceived,itshallbereturnedimmediatelytothecontributor,ifthecontributor'sidentitycan
34beascertained,andifthecontributor'sidentitycannotbeascertained,thecandidate,
35committeetreasurerordeputytreasurershallimmediatelytransmitthatportionofthe
36contributionwhichexceedstwenty-fivedollarstothestatetreasureranditshallescheattothe
37state.
38 5.Themaximumaggregateamountofanonymouscontributionswhichshallbe
39acceptedinanycalendaryearbyanycommitteeshallbethegreateroffivehundreddollarsor
40onepercentoftheaggregateamountofallcontributionsreceivedbythatcommitteeinthe
41samecalendaryear.Ifanyanonymouscontributionisreceivedwhichcausestheaggregate
42totalofanonymouscontributionstoexceedtheforegoinglimitation,itshallbereturned
43immediatelytothecontributor,ifthecontributor'sidentitycanbeascertained,and,ifthe
44contributor'sidentitycannotbeascertained,thecommitteetreasurer,deputytreasureror
45candidateshallimmediatelytransmittheanonymouscontributiontothestatetreasurerto
46escheattothestate.
47 6.Notwithstandingtheprovisionsofsubsection5ofthissection,contributionsfrom
48individualswhosenamesandaddressescannotbeascertainedwhicharereceivedfroma
49fund-raisingactivityorevent,suchasdefinedinsection130.011,shallnotbedeemed
50anonymouscontributions,providedthefollowingconditionsaremet:
51 (1)Therearetwenty-fiveormorecontributingparticipantsintheactivityorevent;
52 (2)Thecandidate,committeetreasurer,deputytreasurerorthepersonresponsiblefor
53conductingtheactivityoreventmakesanannouncementthatitisillegalforanyonetomake
54orreceiveacontributioninexcessofonehundreddollarsunlessthecontributionis
55accompaniedbythenameandaddressofthecontributor;
56 (3)Thepersonresponsibleforconductingtheactivityoreventdoesnotknowingly
57acceptpaymentfromanysinglepersonofmorethanonehundreddollarsunlessthenameand
58addressofthepersonmakingsuchpaymentisobtainedandrecordedpursuanttotherecord-
59keepingrequirementsofsection130.036;
60 (4)Astatementdescribingtheeventshallbepreparedbythecandidateorthe
61treasurerofthecommitteeforwhomthefundswereraisedorbythepersonresponsiblefor
62conductingtheactivityoreventandattachedtothedisclosurereportofcontributionsand
HB707 14 63expendituresrequiredbysection130.041.Thefollowinginformationtobelistedinthe
64statementisinadditionto,notinlieuof,therequirementselsewhereinthischapterrelatingto
65therecordingandreportingofcontributionsandexpenditures:
66 (a)Thenameandmailingaddressofthepersonorpersonsresponsibleforconducting
67theeventoractivityandthenameandaddressofthecandidateorcommitteeforwhomthe
68fundswereraised;
69 (b)Thedateonwhichtheeventoccurred;
70 (c)Thenameandaddressofthelocationwheretheeventoccurredandthe
71approximatenumberofparticipantsintheevent;
72 (d)Abriefdescriptionofthetypeofeventandthefund-raisingmethodsused;
73 (e)Thegrossreceiptsfromtheeventandalistingoftheexpendituresincidenttothe
74event;
75 (f)Thetotaldollaramountofcontributionsreceivedfromtheeventfromparticipants
76whosenamesandaddresseswerenotobtainedwithsuchcontributionsandanexplanationof
77whyitwasnotpossibletoobtainthenamesandaddressesofsuchparticipants;
78 (g)Thetotaldollaramountofcontributionsreceivedfromcontributingparticipantsin
79theeventwhoareidentifiedbynameandaddressintherecordsrequiredtobemaintained
80pursuanttosection130.036.
81 7.Nocandidateorcommitteeinthisstateshallacceptcontributionsfromanyout-of-
82statecommitteeunlesstheout-of-statecommitteefromwhomthecontributionsarereceived
83hasfiledastatementoforganizationpursuanttosection130.021orhasfiledthereports
84requiredbysections130.049and130.050,whicheverisapplicabletothatcommittee.
85 8.Anypersonpublishing,circulating,ordistributinganyprintedmatterrelativeto
86anycandidateforpublicofficeoranyballotmeasureshallonthefaceoftheprintedmatter
87identifyinaclearandconspicuousmannerthepersonwhopaidfortheprintedmatterwiththe
88words"Paidforby"followedbytheproperidentificationofthesponsorpursuanttothis
89section.Forthepurposesofthissection,"printedmatter"shallbedefinedtoincludeany
90pamphlet,circular,handbill,sampleballot,advertisement,includingadvertisementsinany
91newspaperorotherperiodical,sign,includingsignsfordisplayonmotorvehicles,orother
92imprintedorletteredmaterial;but"printedmatter"isdefinedtoexcludematerialsprintedand
93purchasedpriortoMay20,1982,ifthecandidateorcommitteecandocumentthatdelivery
94tookplacepriortoMay20,1982;anysignpersonallyprintedandconstructedbyan
95individualwithoutcompensationfromanyotherpersonanddisplayedatthatindividual's
96placeofresidenceoronthatindividual'spersonalmotorvehicle;anyitemsofpersonaluse
97givenawayorsold,suchascampaignbuttons,pins,pens,pencils,bookmatches,campaign
98jewelry,orclothing,whichispaidforbyacandidateorcommitteewhichsupportsacandidate
99orsupportsoropposesaballotmeasureandwhichisobviousinitsidentificationwitha
HB707 15 100specificcandidateorcommitteeandisreportedasrequiredbythischapter;andanynews
101story,commentary,oreditorialprintedbyaregularlypublishednewspaperorotherperiodical
102withoutchargetoacandidate,committeeoranyotherperson.
103 (1)Inregardtoanyprintedmatterpaidforbyacandidatefromthecandidate's
104personalfunds,itshallbesufficientidentificationtoprintthefirstandlastnamebywhichthe
105candidateisknown.
106 (2)Inregardtoanyprintedmatterpaidforbyacommittee,itshallbesufficient
107identificationtoprintthenameofthecommitteeasrequiredtoberegisteredbysubsection5
108ofsection130.021andthenameandtitleofthecommitteetreasurerwhowasservingwhen
109theprintedmatterwaspaidfor.
110 (3)Inregardtoanyprintedmatterpaidforbyacorporationorotherbusinessentity,
111labororganization,oranyotherorganizationnotdefinedtobeacommitteebysubdivision(7)
112ofsection130.011andnotorganizedespeciallyforinfluencingoneormoreelections,itshall
113besufficientidentificationtoprintthenameoftheentity,thenameoftheprincipalofficerof
114theentity,bywhatevertitleknown,andthemailingaddressoftheentity,oriftheentityhas
115nomailingaddress,themailingaddressoftheprincipalofficer.
116 (4)Inregardtoanyprintedmatterpaidforbyanindividualorindividuals,itshallbe
117sufficientidentificationtoprintthenameoftheindividualorindividualsandtherespective
118mailingaddressoraddresses,exceptthatifmorethanfiveindividualsjoininpayingfor
119printedmatteritshallbesufficientidentificationtoprintthewords"Foralistofother
120sponsorscontact:"followedbythenameandaddressofonesuchindividualresponsiblefor
121causingthemattertobeprinted,andtheindividualidentifiedshallmaintainarecordofthe
122namesandamountspaidbyotherindividualsandshallmakesuchrecordavailableforreview
123upontherequestofanyperson.Nopersonshallacceptforpublicationorprintingnorshall
124suchworkbecompleteduntiltheprintedmatterisproperlyidentifiedasrequiredbythis
125subsection.
126 9.Anybroadcaststationtransmittinganymatterrelativetoanycandidateforpublic
127officeorballotmeasureasdefinedbythischaptershallidentifythesponsorofsuchmatteras
128requiredbyfederallaw.
129 10.Theprovisionsofsubsection8or9ofthissectionshallnotapplytocandidatesfor
130electivefederaloffice,providedthatpersonscausingmattertobeprintedorbroadcast
131concerningsuchcandidaciesshallcomplywiththerequirementsoffederallawfor
132identificationofthesponsororsponsors.
133 11.Itshallbeaviolationofthischapterforanypersonrequiredtobeidentifiedas
134payingforprintedmatterpursuanttosubsection8ofthissectionorpayingforbroadcast
135matterpursuanttosubsection9ofthissectiontorefusetoprovidetheinformationrequiredor
136topurposelyprovidefalse,misleading,orincompleteinformation.
HB707 16 137 12.Itshallbeaviolationofthischapterforanycommitteetoofferchancestowin
138prizesormoneytopersonstoencouragesuchpersonstoendorse,sendelectionmaterialby
139mail,deliverelectionmaterialinpersonorcontactpersonsattheirhomes;exceptthat,the
140provisionsofthissubsectionshallnotbeconstruedtoprohibithiringandpayingacampaign
141staff.
130.036.1.Thecandidate,treasurerordeputytreasurerofacommitteeshall
2maintainaccuraterecordsandaccountsonacurrentbasis.Therecordsandaccountsshallbe
3maintainedinaccordancewithacceptednormalbookkeepingproceduresandshallcontainthe
4bills,receipts,depositrecords,cancelledchecks, creditcardstatements,andrecordsand
5otherdetailedinformationnecessarytoprepareandsubstantiateanystatementorreport
6requiredtobefiledpursuanttothischapter.Everypersonwhoactsasanagentfora
7committeeinreceivingcontributions,makingexpendituresorincurringindebtednessforthe
8committeeshall,onrequestofthatcommittee'streasurer,deputytreasurerorcandidate,butin
9anyeventwithinfivedaysafteranysuchaction,rendertothecandidate,committeetreasurer
10ordeputytreasureradetailedaccountthereof,includingnames,addresses,dates,exact
11amountsandanyotherdetailsrequiredbythecandidate,treasurerordeputytreasurerto
12complywiththischapter.Notwithstandingtheprovisionsofsubsection4ofsection130.021
13prohibitingcomminglingoffunds,anindividual,tradeorprofessionalassociation,business
14entity,orlabororganizationwhichactsasanagentforacommitteeinreceivingcontributions
15maydepositcontributionsreceivedonbehalfofthecommitteetotheagent'saccountwithina
16financialinstitutionwithinthisstate,forpurposesoffacilitatingtransmittalofthe
17contributionstothecandidate,committeetreasurerordeputytreasurer.Suchcontributions
18shallnotbeheldintheagent'saccountformorethanfivedaysafterthedatethecontribution
19wasreceivedbytheagent,andshallnotbetransferredtotheaccountofanyotheragentor
20person,otherthanthecommitteetreasurer.
21 2.Unlessacontributionisrejectedbythecandidateorcommitteeandreturnedtothe
22donorortransmittedtothestatetreasurerwithintenbusinessdaysafteritsreceipt,itshallbe
23consideredreceivedandacceptedonthedatereceived,notwithstandingthefactthatitwas
24notdepositedbytheclosingdateofareportingperiod.
25 3.Notwithstandingtheprovisionsofsection130.041thatonlycontributorsofmore
26thanonehundreddollarsshallbereportedbynameandaddressforallcommittees,the
27committee'srecordsshallcontainalistingofeachcontributionreceivedbythecommittee,
28includingthoseacceptedandthosewhicharerejectedandeitherreturnedtothedonoror
29transmittedtothestatetreasurer.Eachcontribution,regardlessoftheamount,shallbe
30recordedbydatereceived,nameandaddressofthecontributorandtheamountofthe
31contribution,exceptthatanycontributionsfromunidentifiablepersonswhicharereceived
32throughfund-raisingactivitiesandeventsaspermittedinsubsection6ofsection130.031
HB707 17 33shallberecordedtoshowthedatesandamountsofallsuchcontributionsreceivedtogether
34withinformationcontainedinstatementsrequiredbysubsection6ofsection130.031.The
35procedureforrecordingcontributionsshallbeofatypewhichenablesthecandidate,
36committeetreasurerordeputytreasurertomaintainacontinuingtotalofallcontributions
37receivedfromanyonecontributor.
38 4.[Notwithstandingtheprovisionsofsection130.041thatcertainexpendituresneed
39notbeidentifiedinreportsbynameandaddressofthepayee,] Thecommittee'srecordsshall
40includealistingofeachexpendituremadeandeachcontract,promiseoragreementtomake
41anexpenditure,showingthedateandamountofeachtransaction,thenameandaddressofthe
42persontowhomtheexpenditurewasmadeorpromised,andthepurposeofeachexpenditure
43madeorpromised.
44 5.Inthecaseofacommitteewhichmakesexpendituresforboththesupportor
45oppositionofanycandidateandthepassageordefeatofaballotmeasure,thecommittee
46treasurershallmaintainrecordssegregatedaccordingtoeachcandidateormeasureforwhich
47theexpendituresweremade.
48 6.Recordsshallindicatewhichtransactions,eithercontributionsreceivedor
49expendituresmade,werecashtransactionsorin-kindtransactions.
50 7.Anycandidatewho,pursuanttosection130.016,isexemptfromtherequirements
51toformacommitteeshallmaintainrecordsofeachcontributionreceivedorexpendituremade
52insupportofhiscandidacy.Anyotherpersonorcombinationofpersonswho,althoughnot
53deemedtobeacommitteeaccordingtothedefinitionoftheterm"committee"insection
54130.011,acceptscontributionsormakesexpenditures,otherthandirectcontributionsfromthe
55person'sownfunds,forthepurposeofsupportingoropposingtheelectionordefeatofany
56candidateorforthepurposeofsupportingoropposingthequalifications,passageordefeatof
57anyballotmeasureshallmaintainrecordsofeachcontributionreceivedorexpendituremade.
58Therecordsshallincludename,addressandamountpertainingtoeachcontributionreceived
59orexpendituremadeandanybills,receipts,cancelledchecksorotherdocumentsrelatingto
60eachtransaction.
61 8.Allrecordsandaccountsofreceiptsandexpendituresshallbepreservedforatleast
62threeyearsafterthedateoftheelectiontowhichtherecordspertain.Recordsandaccounts
63regardingsupplementaldisclosurereportsorreportsnotrequiredpursuanttoanelectionshall
64bepreservedforatleastthreeyearsafterthedateofthereporttowhichtherecordspertain.
65Suchrecordsshallbeavailableforinspectionbythe[campaignfinancereviewboard]
66Missouriethicscommissionanditsdulyauthorizedrepresentatives.
130.041.1.Exceptasprovidedinsubsection5ofsection130.016,thecandidate,if
2applicable,treasurerordeputytreasurerofeverycommitteewhichisrequiredtofilea
3statementoforganization,shallfilealegiblyprintedortypeddisclosurereportofreceiptsand
HB707 18 4expenditures.Thereportsshallbefiledwiththeappropriateofficerdesignatedinsection
5130.026atthetimesandfortheperiodsprescribedinsection130.046.Exceptasprovidedin
6sections130.049and130.050,eachreportshallsetforth:
7 (1)Thefullname,asrequiredinthestatementoforganizationpursuanttosubsection
85ofsection130.021,andmailingaddressofthecommitteefilingthereportandthefullname,
9mailingaddressandtelephonenumberofthecommittee'streasureranddeputytreasurerifthe
10committeehasnamedadeputytreasurer;
11 (2)Theamountofmoney,includingcashonhandatthebeginningofthereporting
12period;
13 (3)Receiptsfortheperiod,including:
14 (a)Totalamountofallmonetarycontributionsreceivedwhichcanbeidentifiedinthe
15committee'srecordsbynameandaddressofeachcontributor.Inaddition,thecandidate
16committeeshallmakeareasonableefforttoobtainandreporttheemployer,oroccupationif
17self-employedornotationofretirement,ofeachpersonfromwhomthecommitteereceived
18oneormorecontributionswhichintheaggregatetotalinexcessofonehundreddollarsand
19shallmakeareasonableefforttoobtainandreportadescriptionofanycontractual
20relationshipoverfivehundreddollarsbetweenthecontributorandthestateifthecandidateis
21seekingelectiontoastateofficeorbetweenthecontributorandanypoliticalsubdivisionof
22thestateifthecandidateisseekingelectiontoanotherpoliticalsubdivisionofthestate;
23 (b)Totalamountofallanonymouscontributionsaccepted;
24 (c)Totalamountofallmonetarycontributionsreceivedthroughfund-raisingevents
25oractivitiesfromparticipantswhosenamesandaddresseswerenotobtainedwithsuch
26contributions,withanattachedstatementorcopyofthestatementdescribingeachfund-
27raisingeventasrequiredinsubsection6ofsection130.031;
28 (d)Totaldollarvalueofallin-kindcontributionsreceived;
29 (e)Aseparatelistingbynameandaddressandemployer,oroccupationifself-
30employedornotationofretirement,ofeachpersonfromwhomthecommitteereceived
31contributions,inmoneyoranyotherthingofvalue,aggregatingmorethanonehundred
32dollars,togetherwiththedateandamountofeachsuchcontribution;
33 (f)Alistingofeachloanreceivedbynameandaddressofthelenderanddateand
34amountoftheloan.Foreachloanofmorethanonehundreddollars,aseparatestatement
35shallbeattachedsettingforththenameandaddressofthelenderandeachpersonliable
36directly,indirectlyorcontingently,andthedate,amountandtermsoftheloan;
37 (4)Expendituresfortheperiod,including:
38 (a)Thetotaldollaramountofexpendituresmadebycheckdrawnonthecommittee's
39depository;
40 (b)Thetotaldollaramountofexpendituresmadeincash;
HB707 19 41 (c)Thetotaldollarvalueofallin-kindexpendituresmade;
42 (d)Thetotaldollaramountofexpendituresmadeviaelectronicmeans;
43 (e)Thefullnameandmailingaddressofeachpersontowhomanexpenditureof
44moneyoranyotherthingofvalueintheamountofmorethanonehundreddollarshasbeen
45made,contractedfororincurred,togetherwiththedate,amountandpurposeofeach
46expenditure.Expendituresofonehundreddollarsorlessmaybegroupedandlistedby
47categoriesofexpenditureshowingthetotaldollaramountofexpendituresineachcategory,
48exceptthatthereportshallcontainanitemizedlistingofeachpaymentmadetocampaign
49workersbyname,address,date,amountandpurposeofeachpaymentandtheaggregate
50amountpaidtoeachsuchworker;
51 [(e)](f)Alistofeachloanmade,bynameandmailingaddressoftheperson
52receivingtheloan,togetherwiththeamount,termsanddate;
53 (5)Thetotalamountofcashonhandasoftheclosingdateofthereportingperiod
54covered,includingamountsindepositoryaccountsandinpettycashfund;
55 (6)Thetotalamountofoutstandingindebtednessasoftheclosingdateofthe
56reportingperiodcovered;
57 (7)Theamountofexpendituresfororagainstacandidateorballotmeasureduring
58theperiodcoveredandthecumulativeamountofexpendituresfororagainstthatcandidateor
59ballotmeasure,witheachcandidatebeinglistedbyname,mailingaddressandofficesought.
60Forthepurposeofdisclosurereports,expendituresmadeinsupportofmorethanone
61candidateorballotmeasureorbothshallbeapportionedreasonablyamongthecandidatesor
62ballotmeasureorboth.Inapportioningexpenditurestoeachcandidateorballotmeasure,
63politicalpartycommitteesandcontinuingcommitteesneednotincludeexpendituresfor
64maintainingapermanentoffice,suchasexpendituresforsalariesofregularstaff,office
65facilitiesandequipmentorotherexpendituresnotdesignedtosupportoropposeany
66particularcandidatesorballotmeasures;however,allsuchexpendituresshallbelisted
67pursuanttosubdivision(4)ofthissubsection;
68 (8)Aseparatelistingbyfullnameandaddressofanycommitteeincludinga
69candidatecommitteecontrolledbythesamecandidateforwhichatransferoffundsora
70contributioninanyamounthasbeenmadeduringthereportingperiod,togetherwiththedate
71andamountofeachsuchtransferorcontribution;
72 (9)Aseparatelistingbyfullnameandaddressofanycommittee,includinga
73candidatecommitteecontrolledbythesamecandidatefromwhichatransferoffundsora
74contributioninanyamounthasbeenreceivedduringthereportingperiod,togetherwiththe
75dateandamountofeachsuchtransferorcontribution;
76 (10)Eachcommitteethatreceivesacontributionwhichisrestrictedordesignatedin
77wholeorinpartbythecontributorfortransfertoaparticularcandidate,committeeorother
HB707 20 78personshallincludeastatementofthenameandaddressofthatcontributorinthenext
79disclosurereportrequiredtobefiledafterreceiptofsuchcontribution,togetherwiththedate
80andamountofanysuchcontributionwhichwassorestrictedordesignatedbythat
81contributor,togetherwiththenameoftheparticularcandidateorcommitteetowhomsuch
82contributionwassodesignatedorrestrictedbythatcontributorandthedateandamountof
83suchcontribution.
84 2.Forthepurposeofthissectionandanyothersectioninthischapterexceptsections
85130.049and130.050whichrequiresalistingofeachcontributorwhohascontributeda
86specifiedamount,theaggregateamountshallbecomputedbyaddingallcontributions
87receivedfromanyonepersonduringthefollowingperiods:
88 (1)Inthecaseofacandidatecommittee,theperiodshallbeginonthedateonwhich
89thecandidatebecameacandidateaccordingtothedefinitionoftheterm"candidate"in
90section130.011andendat11:59p.m.onthedayoftheprimaryelection,ifthecandidatehas
91suchanelectionorat11:59p.m.onthedayofthegeneralelection.Ifthecandidatehasa
92generalelectionheldafteraprimaryelection,thenextaggregatingperiodshallbeginat12:00
93midnightonthedayaftertheprimaryelectiondayandshallcloseat11:59p.m.onthedayof
94thegeneralelection.Exceptthatforcontributionsreceivedduringthethirty-dayperiod
95immediatelyfollowingaprimaryelection,thecandidateshalldesignatewhethersuch
96contributionisreceivedasaprimaryelectioncontributionorageneralelectioncontribution;
97 (2)Inthecaseofacampaigncommittee,theperiodshallbeginonthedatethe
98committeereceiveditsfirstcontributionandendontheclosingdatefortheperiodforwhich
99thereportorstatementisrequired;
100 (3)Inthecaseofapoliticalpartycommitteeoracontinuingcommittee,theperiod
101shallbeginonthefirstdayofJanuaryoftheyearinwhichthereportorstatementisbeing
102filedandendontheclosingdatefortheperiodforwhichthereportorstatementisrequired;
103except,ifthereportorstatementisrequiredtobefiledpriortothefirstdayofJulyinany
104givenyear,theperiodshallbeginonthefirstdayofJulyoftheprecedingyear.
105 3.Thedisclosurereportshallbesignedandattestedbythecommitteetreasureror
106deputytreasurerandbythecandidateincaseofacandidatecommittee.
107 4.Thewords"consultingorconsultingservices,fees,orexpenses",orsimilarwords,
108shallnotbeusedtodescribethepurposeofapaymentasrequiredinthissection.The
109reportingofanypaymenttosuchanindependentcontractorshallbeonaformsuppliedbythe
110appropriateofficer,establishedbytheethicscommissionandshallincludeidentificationof
111thespecificserviceorservicesprovidedincluding,butnotlimitedto,publicopinionpolling,
112researchonissuesoroppositionbackground,printorbroadcastmediaproduction,printor
113broadcastmediapurchase,computerprogrammingordataentry,directmailproduction,
HB707 21 114postage,rent,utilities,phonesolicitation,orfundraising,andthedollaramountproratedfor
115eachservice.
361.909.Sections361.900to361.1035shallnotapplyto:
2 (1)Anoperatorofapaymentsystemtotheextentthatitprovidesprocessing,
3clearing,orsettlementservicesbetweenoramongpersonsexemptedunderthissectionor
4licenseesinconnectionwithwiretransfers,creditcardtransactions,debitcardtransactions,
5storedvaluetransactions,automatedclearinghousetransfers,orsimilarfundstransfers;
6 (2)Apersonappointedasanagentofapayeetocollectandprocessapaymentfroma
7payertothepayeeforgoodsorservices,otherthanmoneytransmissionitself,providedtothe
8payerbythepayee,providedthat:
9 (a)Thereexistsawrittenagreementbetweenthepayeeandtheagentdirectingthe
10agenttocollectandprocesspaymentsfromapayeronthepayee'sbehalf;
11 (b)Thepayeeholdstheagentouttothepublicasacceptingpaymentsforgoodsor
12servicesonthepayee'sbehalf;and
13 (c)Paymentforthegoodsandservicesistreatedasreceivedbythepayeeupon
14receiptbytheagentsothatthepayer'sobligationisextinguishedandthereisnoriskoflossto
15thepayeriftheagentfailstoremitthefundstothepayee;
16 (3)Apersonthatactsasanintermediarybyprocessingpaymentsbetweenanentity
17thathasdirectlyincurredanoutstandingmoneytransmissionobligationtoasenderandthe
18sender'sdesignatedrecipient,providedthattheentity:
19 (a)Isproperlylicensedorexemptfromlicensingrequirementsundersections
20361.900to361.1035;
21 (b)Providesareceipt,electronicrecord,orotherwrittenconfirmationtothesender
22identifyingtheentityastheproviderofmoneytransmissioninthetransaction;and
23 (c)Bearssoleresponsibilitytosatisfytheoutstandingmoneytransmissionobligation
24tothesender,includingtheobligationtomakethesenderwholeinconnectionwithany
25failuretotransmitthefundstothesender'sdesignatedrecipient;
26 (4)TheUnitedStatesoradepartment,agency,orinstrumentalitythereof,oritsagent;
27 (5)MoneytransmissionbytheUnitedStatesPostalServiceorbyanagentofthe
28UnitedStatesPostalService;
29 (6)Astate,county,city,oranyothergovernmentalagencyorgovernmental
30subdivisionorinstrumentalityofastate,oritsagent;
31 (7)Afederallyinsureddepositoryfinancialinstitution;bankholdingcompany;office
32ofaninternationalbankingcorporation;foreignbankthatestablishesafederalbranchunder
33theInternationalBankAct,12U.S.C.Section3102,asamendedorrecodifiedfromtimeto
34time;corporationorganizedundertheBankServiceCorporationAct,12U.S.C.Sections
351861-1867,asamendedorrecodifiedfromtimetotime;orcorporationorganizedunderthe
HB707 22 36EdgeAct,12U.S.C.Sections611-633,asamendedorrecodifiedfromtimetotime,underthe
37lawsofastateortheUnitedStates;
38 (8)Electronicfundstransferofgovernmentalbenefitsforafederal,state,county,or
39governmentalagencybyacontractoronbehalfoftheUnitedStatesoradepartment,agency,
40orinstrumentalitythereof,oronbehalfofastateorgovernmentalsubdivision,agency,or
41instrumentalitythereof;
42 (9)AboardoftradedesignatedasacontractmarketunderthefederalCommodity
43ExchangeAct,7U.S.C.Sections1-25,asamendedorrecodifiedfromtimetotime,ora
44personthat,intheordinarycourseofbusiness,providesclearanceandsettlementservicesfor
45aboardoftradetotheextentofitsoperationasorforsuchaboard;
46 (10)Aregisteredfuturescommissionmerchantunderthefederalcommoditieslaws
47totheextentofitsoperationassuchamerchant;
48 (11)Apersonregisteredasasecuritiesbroker-dealerunderfederalorstatesecurities
49lawstotheextentofitsoperationassuchabroker-dealer;
50 (12)Anindividualemployedbyalicensee,authorizeddelegate,oranyperson
51exemptedfromthelicensingrequirementsundersections361.900to361.1035ifacting
52withinthescopeofemploymentandunderthesupervisionofthelicensee,authorized
53delegate,orexemptedpersonasanemployeeandnotasanindependentcontractor;
54 (13)Apersonexpresslyappointedasathird-partyserviceprovidertooragentofan
55entityexemptundersubdivision(7)ofthissectionsolelytotheextentthat:
56 (a)Suchserviceprovideroragentisengaginginmoneytransmissiononbehalfofand
57underawrittenagreementwiththeexemptentitythatsetsforththespecificfunctionsthatthe
58serviceprovideroragentistoperform;and
59 (b)Theexemptentityassumesallriskoflossandalllegalresponsibilityfor
60satisfyingtheoutstandingmoneytransmissionobligationsowedtopurchasersandholdersof
61theoutstandingmoneytransmissionobligationsuponreceiptofthepurchaser'sorholder's
62moneyormonetaryvaluebytheserviceprovideroragent.
63 (14)Apersonappointedasanagentofapayorforpurposesofprovidingpayroll
64processingservicesforwhichtheagentwouldotherwiseneedtobelicensed,providedall
65ofthefollowingapply:
66 (a)Thereisawrittenagreementbetweenthepayorandtheagentthatdirects
67theagenttoprovidepayrollprocessingservicesonthepayor'sbehalf;
68 (b)Thepayorholdstheagentouttoemployeesandotherpayeesasproviding
69payrollprocessingservicesonthepayor'sbehalf;and
70 (c)Thepayor'sobligationtoapayee,includinganemployeeoranyotherparty
71entitledtoreceivefundsviathepayrollprocessingservicesprovidedbytheagent,shall
72notbeextinguishediftheagentfailstoremitthefundstothepayee.
HB707 23 362.020.1.Thearticlesofagreementmentionedinthischaptershallsetout:
2 (1)Thecorporatenameoftheproposedcorporation.Thecorporatenameshallnotbe
3aname,oranimitationofaname,usedwithintheprecedingfiftyyearsasacorporatetitleof
4abankortrustcompanyincorporatedinthisstate;
5 (2)Thenameofthecityortownandcountyinthisstateinwhichthecorporationisto
6belocated;
7 (3)Theamountofthecapitalstockofthecorporation,thenumberofsharesinto
8whichitisdivided,andtheparvaluethereof;thatthesamehasbeensubscribedingoodfaith
9andallthereofactuallypaidupinlawfulmoneyoftheUnitedStatesandisinthecustodyof
10thepersonsnamedasthefirstboardofdirectorsormanagers;
11 (4)Thenamesandplacesofresidencesoftheseveralshareholdersandnumberof
12sharessubscribedbyeach;
13 (5)Thenumberandthenamesofthefirstdirectors;
14 (6)Thepurposesforwhichthecorporationisformed;
15 (7)Anyprovisionsrelatingtothepreemptiverightsofashareholderasprovidedin
16section351.305.
17
18Thearticlesofagreementmayprovidefortheissuanceofadditionalsharesofcapital
19stockorotherclassesofstockpursuanttothesameproceduresandconditionsas
20providedundersection351.180,providedthatsuchtermsandproceduresare
21acceptabletothedirectoroffinanceand,providedthatanynoticeorotherapproval
22requiredtobegivenorobtainedfromthestateofMissourishallbegivenorobtained
23fromthedirectorofthedivisionoffinance.
24 2.Thearticlesofagreementmaydesignatethenumberofdirectorsnecessaryto
25constituteaquorum,andmayprovideforthenumberofyearsthecorporationistocontinue,
26ormayprovidethattheexistenceofthecorporationshallcontinueuntilthecorporationshall
27bedissolvedbyconsentofthestockholdersorbyproceedingsinstitutedbythestateunder
28anystatutenowinforceorhereafterenacted.
362.247.1.Amajorityofthefullboardofdirectorsshallconstituteaquorumforthe
2transactionofbusinessunlessanothernumberisrequiredbythearticlesofagreement,the
3bylawsorbylaw.Theactofamajorityofthedirectorspresentatameetingatwhicha
4quorumispresentshallbetheactoftheboardofdirectorsunlesstheactofagreaternumber
5isrequiredbythearticlesofagreement,thebylawsorbylaw.
6 2.Unlessotherwiseprohibitedbystatuteor[regulation,] anorderormemorandum
7ofunderstandingenteredintowiththedirectoroffinancerelatedtobanksafetyand
8soundness,directorsmayattendboardmeetingsbytelephonicconferencecallorvideo
9conferencing,andthebankortrustcompanymayincludeinaquorumdirectorswhoarenot
HB707 24 10physicallypresentbutareallowedtovote[, providedthebankortrustcompanyhasa
11compositeratingof1or2undertheUniformFinancialInstitutionsRatingSystemofthe
12FederalFinancialInstitutionExaminationCounsel(FFIEC)].
13 3.Anydirectorremotelyattendingaboardmeetingviatelephoneorvideo
14conferencingmaybecountedtowardaquorumforsuchmeetingand,ifthedirectorisnot
15otherwiseprohibited,mayvoteonmattersbeforethebankortrustcompany'sboardsolongas
16themeetingminutesidentifythedirectorappearingremotelyandreflectthattheremote
17director:
18 (1)Receivedformalnoticeoftheboardmeetingforwhichheorsheisattendingor
19waivedsuchnoticeasotherwiseprovidedbylaw;
20 (2)Receivedtheboardmeetinginformationrequiredforeachboardofdirector's
21meetingasprovidedbysection362.275;
22 (3)Wasalonewhenparticipatinginsuchboardmeetingorwasinthephysical
23presenceofnoonenotadirectorofsuchbankortrustcompany;and
24 (4)Wasabletoclearlyhearsuchboardmeetingdiscussionfromitsbeginningtoend.
25 4.Thedirectorofthedivisionoffinancemaypromulgateadditionalregulations,
26reasonableinscope,toprovidefortheintegrityoftheboardofdirectors'operationswhen
27directorsattendboardmeetingsremotely,thesafetyandsoundnessofthebankortrust
28company'soperation,andthebankortrustcompany'sinterestinminimizingthecostof
29compliancewithsuchregulation.
362.275.1.Theboardofdirectorsofeverybankandtrustcompanyorganizedor
2doingbusinesspursuanttothischaptershallholdaregularmeetingatleastonceeachmonth,
3or,uponapplicationtoandacceptancebythedirectoroffinance,atsuchothertimes,notless
4frequentlythanonceeachcalendarquarterasthedirectoroffinanceshallapprove,which
5approvalmayberescindedatanytime.Thereshallbesubmittedtothemeetingalistgiving
6theaggregateofloans,discounts,acceptancesandadvances,includingoverdrafts,toeach
7individual,partnership,corporationorpersonwhoseliabilitytothebankortrustcompanyhas
8beencreated,extended,renewedorincreasedsincethecut-offdatepriortotheregular
9meetingbymorethananamounttobedeterminedbytheboardofdirectors,whichminimum
10amountshallnotexceedfivepercentofthebank'slegalloanlimit,excepttheminimum
11amountshallinnocasebelessthantenthousanddollars;asecondlistoftheaggregate
12indebtednessofeachborrowerwhoseaggregateindebtednessexceedsfivetimessuch
13minimumamount,excepttheaggregateindebtednessshallinnocasebelessthanfifty
14thousanddollars;andathirdlistshowingallpaperpastduethirtydaysormoreor
15alternatively,thethirdlistshallreportthetotalpast-dueratioforloansthirtydaysormore
16pastdue,nonaccrualloansdividedbytotalloans,andalistingofpast-dueloansinexcessof
17theminimumamounttobedeterminedbytheboardofdirectors,whichminimumamount
HB707 25 18shallnotexceedfivepercentofthebank'slegalloanlimit,excepttheminimumamountshall
19innocasebelessthantenthousanddollars[; andafourthlistshowingtheaggregateofthe
20then-existingindebtednessandliabilitytothebankortrustcompanyofeachofthedirectors,
21officers,andemployeesthereof]. Theinformationcalledforinthesecond[,] andthird[, and
22fourth] listsshallbesubmittedasofthedateoftheregularmeetingorasofareasonabledate
23priorthereto.Nobillspayableshallbemade,andnobillsshallberediscountedbythebank
24ortrustcompanyexceptwiththeconsentorratificationoftheboardofdirectors;provided,
25however,thatifthebankortrustcompanyisamemberofthefederalreservesystem,
26rediscountsmaybemadetoitbytheofficersinaccordancewithitsrules,alistofall
27rediscountstobesubmittedtothenextregularmeetingoftheboard.Thedirectoroffinance
28mayrequire,byorder,thattheboardofdirectorsofabankortrustcompanyapproveor
29disapproveeverypurchaseorsaleofsecuritiesandeverydiscount,loan,acceptance,renewal
30orotheradvanceincludingeveryoverdraftoveranamounttobespecifiedinthedirector's
31orderandmayalsorequirethattheboardofdirectorsreview,ateachmonthlymeeting,alist
32oftheaggregateindebtednessofeachborrowerwhoseaggregateindebtednessexceedsan
33amounttobespecifiedinthedirector'sorder.Theminutesofthemeetingshallindicatethe
34compliancewiththerequirementsofthissection.Furthermore,thedebtor'sidentityonthe
35informationrequiredinthissubsectionmaybemaskedbycodetoconcealtheactualdebtor's
36identityonlyforinformationmailedtoorotherwiseprovideddirectorswhoarenotphysically
37presentattheboardmeeting.Thecodeusedshallberevealedtoalldirectorsatthebeginning
38ofeachboardmeetingforwhichthisprocedureisused.
39 2.Foranyissueinneedofimmediateaction,theboardofdirectorsortheexecutive
40committeeoftheboardasdefinedinsection362.253mayenterintoaunanimousconsent
41agreementaspermittedbysubsection2ofsection351.340.Suchconsentmaybe
42communicatedbyfacsimiletransmissionorbyotherauthenticatedrecord,separatelyby
43eachdirector,providedeachconsentissignedbythedirectorandthebankhasnoindication
44suchsignatureisnotthedirector'svalidconsent.Whenthebankortrustcompanyhas
45receivedunanimousconsentfromtheboardorexecutivecommittee,theactionvotedonshall
46beconsideredapproved.
362.295.1.Withintendaysafterserviceuponitofthenoticeprovidedforbysection
2361.130,everybankandtrustcompanyshallmakeawrittenreporttothedirector,which
3reportshallbeintheformandshallcontainthemattersprescribedbythedirectorandshall
4specificallystatetheitemsofcapital,deposits,specieandcashitems,publicsecuritiesand
5privatesecurities,realestateandrealestatesecurities,andsuchotheritemsasmaybe
6necessarytoinformthepublicastothefinancialconditionandsolvencyofthebankortrust
7company,orwhichthedirectormaydeempropertoincludetherein.Inlieuofrequiring
8directfilingofreportsofcondition,thedirectormayacceptreportsofconditionortheir
HB707 26 9equivalentasfiledwithfederalregulatoryagenciesandmayrequireverificationandthefiling
10ofsupplementalinformationasthedirectordeemsnecessary.
11 2.Everyreportshallbeverifiedbytheoathsofthepresidentorvicepresidentand
12cashierorsecretaryorassistantcashierorassistantsecretary,andtheverificationshallstate
13thatthereportistrueandcorrectinallrespectstothebestoftheknowledgeandbeliefofthe
14personsverifyingit,andthereportshallbeattestedbythreedirectors,andshallbeareportof
15theactualconditionofthebankortrustcompanyatthecloseofbusinessontheday
16designatedandwhichdayshallbepriortothecall.Ifthedirectoroffinanceobtainsthedata
17pursuanttosubsection3ofsection361.130,thedirectormayrelyontheverificationprovided
18tothefederalregulatoryagency.
19 3.[Everyreport,exclusiveoftheverification,shall,withinthirtydaysafteritshall
20havebeenfiledwiththedirector,bepublishedbythebankortrustcompanyinonenewspaper
21oftheplacewhereitsplaceofbusinessislocated,orifnonewspaperispublishedthere,ina
22newspaperofgeneralcirculationinthetownandcommunityinwhichthebankortrust
23companyislocated;thenewspapertobedesignatedbytheboardofdirectorsandacopyof
24thepublication,withtheaffidavitofthepublisherthereto,shallbeattachedtothereport;
25provided,ifthebankortrustcompanyislocatedinatownorcityhavingapopulation
26exceedingtenthousandinhabitants,thenthepublicationmustbeinadailynewspaper,if
27publishedinthatcity;butifthebankortrustcompanyislocatedinatownorcityhavinga
28populationoftenthousandinhabitantsorless,thenthepublicationmaybeineitheradailyor
29weeklynewspaperpublishedinthetownorcityasaforesaid;andinallcasesacopyofthe
30statementshallbepostedinthebankinghouseaccessibletoall.
31 4.]Thebankandtrustcompanyshallalsomakesuchotherspecialreportstothe
32directorashemayfromtimetotimerequire,insuchformandatsuchdateasmaybe
33prescribedbyhim,andthereportshall,ifrequiredbyhim,beverifiedinsuchmannerashe
34mayprescribe.
35 [5.]4.Ifthebankortrustcompanyshallfailtomakeanyreportrequiredbythis
36sectiononorbeforethedaydesignatedforthemakingthereof,orshallfailtoincludetherein
37anymatterrequiredbythedirector,thebankortrustcompanyshallforfeittothestatethesum
38ofonehundreddollarsforeverydaythatthereportshallbedelayedorwithheld,andfor
39everydaythatitshallfailtoreportanyomittedmatter,unlessthetimethereforshallhave
40beenextendedbythedirector.Shouldanypresident,cashierorsecretaryofthebankortrust
41companyoranydirectorthereoffailtomakethestatementsorequiredofhimorthem,or
42willfullyandcorruptlymakeafalsestatement,heorthey,andeachofthem,shallbedeemed
43guiltyofamisdemeanor,and,uponconvictionthereof,uponinformation,punishedbyafine
44foreachoffensenotexceedingfivehundreddollarsandnotlessthanonehundreddollars,or
HB707 27 45byimprisonmentnotlessthanoneormorethantwelvemonthsinthecityorcountyjail,orby
46bothsuchfineandimprisonment.
47 [6.]5.Abankortrustcompany[mayprovideeachwritten] shallprovideapaperor
48electroniccopyofanyregularperiodicreportrequiredtobe[publishedfreeofchargeto
49thepublic;andwheneachbankortrustcompanynotifiestheircustomersthatsuch
50informationisavailable;andwhenonecopyofsuchinformationisavailable] filedunder
51section361.130toeach[person] customerthatrequestsit[,thenewspaperpublication
52provisionsofthissectionshallnotbeenforcedagainstsuchbankortrustcompany].
362.424.1.Forpurposesofthissection,thefollowingtermsmean:
2 (1)"Bank",includesanystateorfederallycharteredbank,savingsbank,or
3savingsandloanassociationprovidingbankingservicestocustomers;
4 (2)"Trustedcontact",anyadultpersondesignatedbyabankcustomerthata
5bankmaycontactintheeventofanemergencyorlossofcontactwiththecustomer,or
6suspectedthirdpartyfraudorfinancialexploitationtargetingthecustomer.
7 2.Notwithstandinganyotherprovisionoflawtothecontrary,anybankmay
8reportsuspectedfraudulentactivityorfinancialexploitationtargetinganyofits
9customerstoafederal,state,county,ormunicipallawenforcementagencyorany
10appropriatepublicprotectiveagencyandshallbeimmunefromcivilliabilityindoing
11so.
12 3.Notwithstandinganyotherprovisionoflawtothecontrary,anybank,ona
13voluntarybasis,mayofferatrustedcontactprogramtocustomerswhomaydesignate
14oneormoretrustedcontactsforthebanktocontactintheeventacustomerisnot
15responsivetobankcommunications,thebankispresentedwithanurgentmatteror
16emergencyinvolvingthecustomerandthebankisunabletolocatethecustomer,orthe
17banksuspectsfraudulentactivityorfinancialexploitationtargetingthecustomerorthe
18accounthasbeendeemeddormantandthebankisattemptingtoverifythestatusand
19locationofthecustomer.Thebankmayestablishsuchprocedures,requirements,and
20formsasitdeemsappropriateandnecessaryshouldthebankopttoimplementatrusted
21contactprogram.
22 4.Notwithstandinganyotherprovisionoflawtothecontrary,anybankmay
23voluntarilyoffercustomersanaccountwithconvenienceandsecurityfeaturesthatset
24transactionlimitsandpermitlimitedaccesstoviewaccountactivityforoneormore
25trustedcontactsdesignatedbythecustomer.
26 5.Nobankshallbeliablefortheactionsofatrustedcontact.
27 6.Nobankshallbeliablefordecliningtointeractwithatrustedcontactwhen
28thebank,ingoodfaithandexercisingreasonablecare,determinesthatatrustedcontact
29isnotactinginthebestinterestsofthecustomer.
HB707 28 30 7.Apersondesignatedbyacustomerasatrustedcontactwhoactsingoodfaith
31andexercisesreasonablecareshallbeimmunefromliability.
32 8.Acustomermaywithdrawanyappointmentofapersonasatrustedcontactat
33anytimeandanytrustedcontactmaywithdrawfromstatusasatrustedcontactatany
34time.Thebankmayrequiresuchdocumentationorverificationasitdeemsnecessaryto
35establishthewithdrawalorterminationofatrustedcontact.
36 9.Nobankshallbecivillyliableforimplementingornotimplementingorfor
37actionsoromissionsrelatedtoprovidingoradministeringatrustedcontactprogram.
362.490.1.Notwithstandinganyprovisionoflawofthisstateorofanypolitical
2subdivisionthereofrequiringsecurityfordepositsintheformofcollateral,suretybondorin
3anyotherform,securityforsuchdepositsshallnotberequiredtotheextentsaiddepositsare
4insuredundertheprovisionsofanactofcongresscreatingandestablishingtheFederal
5DepositInsuranceCorporationorsimilaragencycreatedandestablishedbytheCongressof
6theUnitedStates.
7 2.(1)Asanalternativetotherequirementsfordirectpledgingofsecurityfor
8depositofpublicfundsinexcessoftheamountthatisfederallyinsuredorguaranteed
9pursuanttosections110.010,110.020,and110.060,abankinginstitutionauthorizedas
10legaldepositaryforpublicfundsmaysecurethedepositsofanygovernmentalentityby
11grantingasecurityinterestinasinglepoolofsecuritiestosecuretherepaymentofall
12publicfundsdepositedinthebankinginstitutionbysuchgovernmentalentitiesandnot
13otherwisefederallyinsuredorsecuredpursuanttolaw.
14 (2)Abankinginstitutionmaysecurethedepositofpublicfundsusingthedirect
15methodasprovidedinchapter110,orthesinglebankpooledmethodprovidedinthis
16section,ormayelecttooffergovernmententitiesthechoiceofeithermethodtosecure
17thedepositofpublicfunds.
18 (3)Underthedirectmethodabankinginstitutionmaysecurethedepositof
19publicfundsofeachgovernmententityseparatelybyfurnishingsecuritiespursuantto
20sections110.010,110.020,and110.060.
21 (4)Underthesinglebankpooledmethodabankinginstitutionmaysecurethe
22depositofpublicfundsofoneormoregovernmententitiesthroughapoolofeligible
23securitiesheldincustodyandsafekeepingwithoneormoreotherbankinginstitutions
24orsafedepositaries,tobeheldsubjecttotheorderofthedirectorofthedivisionof
25financeortheadministratorappointedpursuanttosubsection3ofthissectionforthe
26benefitofthegovernmententitieshavingpublicfundsdepositedwithsuchbanking
27institutionassetforthinthissection.
28 3.(1)Thedirectorofthedivisionoffinanceshallhaveexclusiveauthorityto
29appointabank,trustcompany,orassociationforMissouribankswhichischarteredor
HB707 29 30incorporatedinMissouri,toserveastheadministratorwithrespecttoasinglebank
31pooledmethod.Theadministratorshallactasanagentforbankinginstitutionsandas
32thenomineeofthegovernmententitiesforpurposesofadministeringthepoolof
33securitiespledgedtosecureuninsuredpublicfunddeposits.Thefeesandexpensesof
34suchadministratorshallbepaidbythebankinginstitutionsutilizingthesinglebank
35pooledmethod.Thesinglebankpooledmethodshallnotbeutilizedbyanybanking
36institutionunlessanadministratorhasbeenappointedbythedirectorpursuanttothis
37sectionandisactingastheadministrator.Thedirectormayrequiretheadministrator
38topostasuretybondorsecuritytothedirectorinanamountuptoonehundred
39thousanddollarstoassurethefaithfulperformanceofthedutiesoftheadministrator.
40 (2)Atalltimestheaggregatemarketvalueofthepoolofsecuritiessodeposited,
41pledged,orinwhichasecurityinterestisgrantedshallbeatleastequaltoonehundred
42twopercentoftheamountondepositwhichisinexcessoftheamountsoinsured.
43 (3)Eachbankinginstitutionshallcarryonitsaccountingrecordsatalltimesa
44generalledgerorotherappropriateaccountofthetotalamountofallpublicfundstobe
45securedbythepoolofsecuritiesasdeterminedattheopeningofbusinesseachday,and
46theaggregatemarketvalueofthepoolofsecuritiespledged,orinwhichasecurity
47interestisgrantedtosecuresuchpublicfunds.
48 (4)Ifabankinginstitutionelectstosecurethedepositofpublicfundsthrough
49theuseofthesinglebankpooledmethod,suchbankinginstitutionshallnotifythe
50administratorinwritingthatithaselectedtoutilizethesinglebankpooledmethodand
51theproposedeffectivedatethereofandentersuchagreementastheadministratormay
52require.
53 (5)Abankinginstitutionmaynotretainanydepositofpublicfundswhichis
54requiredtobesecuredunlessithassecuredthedepositsforthebenefitofthe
55governmententitieshavingpublicfundswithsuchbankinginstitutionpursuanttothis
56section.
57 (6)Onlythesecuritiesandcollateraldescribedorlistedpursuanttosection
5830.270forthesafekeepingandpaymentofdepositsbythestatetreasurermaybe
59providedandacceptedassecurityforthedepositofpublicfundsandshallbeeligibleas
60collateral.Theadministratorshallnotacceptanysecuritieswhicharenotdescribedor
61listedpursuanttosection30.270.
62 (7)Theadministratormayestablishsuchproceduresandreporting
63requirementsasnecessaryfordepositorybankinginstitutionsandtheirsafekeeping
64banksordepositariestoconfirmtheamountofinsuredpublicfunddeposits,thepledge
65ofsecuritiestotheadministratortosecurethedepositofpublicfunds,asagentforeach
66participatingbankinginstitution,andtomonitorthemarketvalueofpledgedsecurities
HB707 30 67asreportedbythecustodyagents,andtoadd,substitute,orremovesecuritiesheldin
68thesinglebankpoolasdirectedbythedepositorybankinginstitution.
69 (8)Intheeventofthefailureandinsolvencyofabankinginstitutionusingthe
70singlebankpooledmethod,subjecttoanyorderofthedirectorpursuanttopowers
71vestedunderchapter361,theadministratorshalldirectthesafekeepingbanksor
72depositariestosellthepledgedsecuritiesanddirectproceedstothepaymentofthe
73uninsuredpublicfunddepositsortotransferthepledgedsecuritiestothatbanking
74institution'sprimarysupervisoryagencyorthedulyappointedreceiverforthebanking
75institutiontobeliquidatedtopayouttheuninsuredpublicfunddeposits.
370.245.1.Forpurposesofthissection,thefollowingtermsmean:
2 (1)"Creditunion",anystateorfederallycharteredcreditunionproviding
3financialservicestomembers;
4 (2)"Trustedcontact",anyadultpersondesignatedbyacreditunionmember
5thatacreditunionmaycontactintheeventofanemergencyorlossofcontactwiththe
6member,orsuspectedthirdpartyfraudorfinancialexploitationtargetingthemember.
7 2.Notwithstandinganyotherprovisionoflawtothecontrary,anycreditunion
8mayreportsuspectedfraudulentactivityorfinancialexploitationtargetinganyofits
9memberstoafederal,state,county,ormunicipallawenforcementagencyorany
10appropriatepublicprotectiveagencyandshallbeimmunefromcivilliabilityindoing
11so.
12 3.Notwithstandinganyotherprovisionoflawtothecontrary,anycreditunion,
13onavoluntarybasis,mayofferatrustedcontactprogramtomemberswhomay
14designateoneormoretrustedcontactsforthecredituniontocontactintheeventa
15memberisnotresponsivetocreditunioncommunications,thecreditunionispresented
16withanurgentmatteroremergencyinvolvingthememberandthecreditunionis
17unabletolocatethemember,orthecreditunionsuspectsfraudulentactivityorfinancial
18exploitationtargetingthememberortheaccounthasbeendeemeddormantandthe
19creditunionisattemptingtoverifythestatusandlocationofthemember.Thecredit
20unionmayestablishsuchprocedures,requirements,andformsasitdeemsappropriate
21andnecessaryshouldthecreditunionopttoimplementatrustedcontactprogram.
22 4.Notwithstandinganyotherprovisionoflawtothecontrary,anycreditunion
23mayvoluntarilyoffermembersanaccountwithconvenienceandsecurityfeaturesthat
24settransactionlimitsandpermitlimitedaccesstoviewaccountactivityforoneormore
25trustedcontactsdesignatedbythemember.
26 5.Nocreditunionshallbeliablefortheactionsofatrustedcontact.
HB707 31 27 6.Nocreditunionshallbeliablefordecliningtointeractwithatrustedcontact
28whenthecreditunion,ingoodfaithandexercisingreasonablecare,determinesthata
29trustedcontactisnotactinginthebestinterestsofthemember.
30 7.Apersondesignatedbyamemberasatrustedcontactwhoactsingoodfaith
31andexercisesreasonablecareshallbeimmunefromliability.
32 8.Amembermaywithdrawanyappointmentofapersonasatrustedcontactat
33anytimeandanytrustedcontactmaywithdrawfromstatusasatrustedcontactatany
34time.Thecreditunionmayrequiresuchdocumentationorverificationasitdeems
35necessarytoestablishthewithdrawalorterminationofatrustedcontact.
36 9.Nocreditunionshallbecivillyliableforimplementingornotimplementingor
37foractionsoromissionsrelatedtoprovidingoradministeringatrustedcontact
38program.
425.310.1.Adebtcollector,includingadebtcollectionattorneyorlawfirm,
2shallbeauthorizedtocollectapaymenttransactionfeefromaperson,business,orother
3payormakingacreditcardoranelectronicpaymentnottoexceedthelesseroftwenty-
4fivedollarsorthreepercentofthepaymentamount,notincludingthefee,providedthe
5followingaredisclosedtotheperson,business,orotherpayorpriortothetimethe
6transactioniscomplete:
7 (1)Thatapaymenttransactionfeeistobecollected;
8 (2)Theamountofthepaymenttransactionfeeormethodofitscalculation,
9whichincludesapercentageaslimitedunderthissection;and
10 (3)Atleastonealternativepaymentmethodforwhichtherewouldbeno
11paymenttransactionfee.
12 2.Anoticeinsubstantiallythefollowingformcomplieswiththeprovisions
13undersubsection1ofthissection:
14
15"NOTICE:Apaymenttransactionfeewillbecollectedtocompletethismethodof
16paymentintheamountof($____)(____%oftheamounttobepaid,limitedtothree
17percent).Ifyouwanttoavoidthispaymenttransactionfee,youmayinsteadpayby(set
18outavailablenonfeepaymentmethods(s)).".
427.300.1.Thissectionshallbeknownandmaybecitedasthe"Commercial
2FinancingDisclosureLaw".
3 2.Forpurposesofthissection,thefollowingtermsmean:
4 (1)"Account";
5 (a)Includes:
6 a.Arighttopaymentofamonetaryobligation,regardlessofwhetherearnedby
7performance,foroneofthefollowing:
HB707 32 8 (i)Propertythathasbeenoristobesold,leased,licensed,assigned,orotherwise
9disposedof;
10 (ii)Servicesrenderedortoberendered;
11 (iii)Apolicyofinsuranceissuedortobeissued;
12 (iv)Asecondaryobligationincurredortobeincurred;
13 (v)Energyprovidedortobeprovided;
14 (vi)Theuseorhireofavesselunderacharterorothercontract;
15 (vii)Arisingoutoftheuseofacreditorchargecardorinformationcontainedonor
16forusewiththecard;or
17 (viii)Aswinningsinalotteryorothergameofchanceoperatedorsponsoredbya
18state,governmentalunitofastate,orpersonlicensedorauthorizedtooperatethegamebya
19stateorgovernmentalunitofastate;and
20 b.Health-care-insurancereceivables;and
21 (b)Doesnotinclude:
22 a.Rightstopaymentevidencedbychattelpaperoraninstrument;
23 b.Commercialtortclaims;
24 c.Depositaccounts;
25 d.Investmentproperty;
26 e.Letter-of-creditrightsorlettersofcredit;or
27 f.Rightstopaymentformoneysorfundsadvancedorsold,otherthanrightsarising
28outoftheuseofacreditorchargecardorinformationcontainedonorforusewiththecard;
29 (2)"Accountsreceivablepurchasetransaction",anytransactioninwhichthebusiness
30forwardsorotherwisesellstotheprovideralloraportionofthebusiness'saccountsor
31paymentintangiblesatadiscounttotheirexpectedvalue.Theprovider'scharacterizationof
32anaccountsreceivablepurchasetransactionasapurchaseisconclusivethattheaccounts
33receivablepurchasetransactionisnotaloanoratransactionfortheuse,forbearance,or
34detentionofmoney;
35 (3)"Broker",anypersonwho,forcompensationortheexpectationofcompensation,
36obtainsacommercialfinancingtransactionoranofferforacommercialfinancingtransaction
37fromathirdpartythatwould,ifexecuted,bebindinguponthatthirdpartyandcommunicates
38thatoffertoabusinesslocatedinthisstate.Thetermbrokerexcludesaprovider,orany
39individualorentitywhosecompensationisnotbasedordependentonthetermsofthe
40specificcommercialfinancingtransactionobtainedoroffered;
41 (4)"Business",anindividualorgroupofindividuals,soleproprietorship,corporation,
42limitedliabilitycompany,trust,estate,cooperative,association,orlimitedorgeneral
43partnershipengagedinabusinessactivity;
HB707 33 44 (5)"Businesspurposetransaction",anytransactionwheretheproceedsareprovided
45toabusinessorareintendedtobeusedtocarryonabusinessandnotforpersonal,family,or
46householdpurposes.Forpurposesofdeterminingwhetheratransactionisabusinesspurpose
47transaction,theprovidermayrelyonanywrittenstatementofintendedpurposesignedbythe
48business.Thestatementmaybeaseparatestatementormaybecontainedinanapplication,
49agreement,orotherdocumentsignedbythebusinessorthebusinessownerorowners;
50 (6)"Commercialfinancingfacility",aprovider'splanforpurchasingmultiple
51accountsreceivablefromtherecipientoveraperiodoftimepursuanttoanagreementthatsets
52forththetermsandconditionsgoverningtheuseofthefacility;
53 (7)"Commercialfinancingtransaction",anycommercialloan,accountsreceivable
54purchasetransaction,commercialopen-endcreditplanoreachtotheextentthetransactionis
55abusinesspurposetransaction;
56 (8)"Commercialloan",aloantoabusiness,whethersecuredorunsecured;
57 (9)"Commercialopen-endcreditplan",commercialfinancingextendedbyany
58providerunderaplaninwhich:
59 (a)Theproviderreasonablycontemplatesrepeattransactions;and
60 (b)Theamountoffinancingthatmaybeextendedtothebusinessduringthetermof
61theplan,uptoanylimitsetbytheprovider,isgenerallymadeavailabletotheextentthatany
62outstandingbalanceisrepaid;
63 (10)"Depositoryinstitution",anyofthefollowing:
64 (a)Abank,trustcompany,orindustrialloancompanydoingbusinessunderthe
65authorityof,orinaccordancewith,alicense,certificate,orcharterissuedbytheUnited
66States,thisstate,oranyotherstate,district,territory,orcommonwealthoftheUnitedStates
67thatisauthorizedtotransactbusinessinthisstate;
68 (b)Afederallycharteredsavingsandloanassociation,federalsavingsbank,or
69federalcreditunionthatisauthorizedtotransactbusinessinthisstate;or
70 (c)Asavingsandloanassociation,savingsbank,orcreditunionorganizedunderthe
71lawsofthisoranyotherstatethatisauthorizedtotransactbusinessinthisstate;
72 (11)"Generalintangible",anypersonalproperty,includingthingsinaction,other
73thanaccounts,chattelpaper,commercialtortclaims,depositaccounts,documents,goods,
74instruments,investmentproperty,letter-of-creditrights,lettersofcredit,money,andoil,gas,
75orothermineralsbeforeextraction.Generalintangiblealsoincludespaymentintangiblesand
76software;
77 (12)"Paymentintangible",ageneralintangibleunderwhichtheaccountdebtor's
78principalobligationisamonetaryobligation;
79 (13)"Provider",apersonwhoconsummatesmorethanfivecommercialfinancing
80transactionstoabusinesslocatedinthisstateinanycalendaryear.Provideralsoincludesa
HB707 34 81personthatentersintoawrittenagreementwithadepositoryinstitutiontoarrangeforthe
82extensionofacommercialfinancingtransactionbythedepositoryinstitutiontoabusinessvia
83anonlinelendingplatformadministeredbytheperson.Thefactthataproviderextendsa
84specificofferforacommercialfinancingtransactiononbehalfofadepositoryinstitution
85shallnotbeconstruedtomeanthattheproviderengagedinlendingorfinancingororiginated
86thatloanorfinancing.
87 3.(1)Aproviderthatconsummatesacommercialfinancingtransactionshalldisclose
88thetermsofthecommercialfinancingtransactionasrequiredbythissection.Thedisclosures
89shallbeprovidedatorbeforeconsummationofthetransaction.Onlyonedisclosureis
90requiredforeachcommercialfinancingtransaction,andadisclosureisnotrequiredasaresult
91ofthemodification,forbearance,orchangetoaconsummatedcommercialfinancing
92transaction.
93 (2)Aprovidershalldisclosethefollowinginconnectionwitheachcommercial
94financingtransaction:
95 (a)Thetotalamountoffundsprovidedtothebusinessunderthetermsofthe
96commercialfinancingtransactionagreement.Thisdisclosureshallbelabeled"TotalAmount
97ofFundsProvided";
98 (b)Thetotalamountoffundsdisbursedtothebusinessunderthetermsofthe
99commercialfinancingtransaction,iflessthanthetotalamountoffundsprovided,asaresult
100ofanyfeesdeductedorwithheldatdisbursementandanyamountpaidtoathirdpartyon
101behalfofthebusiness.Thisdisclosureshallbelabeled"TotalAmountofFundsDisbursed";
102 (c)Thetotalamounttobepaidtotheproviderpursuanttothecommercialfinancing
103transactionagreement.Thisdisclosureshallbelabeled"TotalofPayments";
104 (d)Thetotaldollarcostofthecommercialfinancingtransactionunderthetermsof
105theagreement,derivedbysubtractingthetotalamountoffundsprovidedfromthetotalof
106payments.Thiscalculationshallincludeanyfeesorchargesdeductedbytheproviderfrom
107the"TotalAmountofFundsProvided".Thisdisclosureshallbelabeled"TotalDollarCostof
108Financing";
109 (e)Themanner,frequency,andamountofeachpayment.Thisdisclosureshallbe
110labeled"Payments".Ifthepaymentsmayvary,theprovidershallinsteaddisclosethe
111manner,frequency,andtheestimatedamountoftheinitialpaymentlabeled"Estimated
112Payments"andthecommercialfinancingtransactionagreementshallincludeadescriptionof
113themethodologyforcalculatinganyvariablepaymentandthecircumstanceswhenpayments
114mayvary;
115 (f)Astatementofwhetherthereareanycostsordiscountsassociatedwith
116prepaymentofthecommercialfinancingproductincludingareferencetotheparagraphinthe
HB707 35 117agreementthatcreatesthecontractualrightsofthepartiesrelatedtoprepayment.This
118disclosureshallbelabeled"Prepayment";and
119 (3)Aproviderthatconsummatesacommercialfinancingfacilitymayprovide
120disclosuresofthissubsectionwhicharebasedonanexampleofatransactionthatcouldoccur
121undertheagreement.Theexampleshallbebasedonanaccountsreceivabletotalfaceamount
122owedoftenthousanddollars.Onlyonedisclosureisrequiredforeachcommercialfinancing
123facility,andadisclosureisnotrequiredasresultofamodification,forbearance,orchangeto
124thefacility.Anewdisclosureisnotrequiredeachtimeaccountsreceivablearepurchased
125underthefacility.
126 4.Theprovisionsofthissectionshallnotapplytothefollowing:
127 (1)Aproviderthatisadepositoryinstitutionorasubsidiaryoraffiliate;
128 (2)Aproviderthatisaservicecorporationtoadepositoryinstitutionthatis:
129 (a)Ownedandcontrolledbyadepositoryinstitution;and
130 (b)Regulatedbyafederalbankingagency;
131 (3)AproviderthatisalenderregulatedunderthefederalFarmCreditAct,12U.S.C.
132Section2001,etseq.;
133 (4)Acommercialfinancingtransactionthatis:
134 (a)Securedbyrealproperty;
135 (b)Alease;or
136 (c)Apurchasemoneyobligationthatisincurredasallorpartofthepriceofthe
137collateralorforvaluegiventoenablethebusinesstoacquirerightsinortheuseofthe
138collateralifthevalueisinfactsoused;
139 (5)Acommercialfinancingtransactioninwhichtherecipientisamotorvehicle
140dealeroranaffiliateofsuchadealer,oravehiclerentalcompany,oranaffiliateofsucha
141company,pursuanttoacommercialloanorcommercialopen-endcreditplanofatleastfifty
142thousanddollarsoracommercialfinancingtransactionofferedbyapersoninconnectionwith
143thesaleorleaseofproductsorservicesthatsuchpersonmanufactures,licenses,or
144distributes,orwhoseparentcompanyoranyofitsdirectlyorindirectlyownedandcontrolled
145subsidiariesmanufactures,licenses,ordistributes;
146 (6)Acommercialfinancingtransactionthatisafactoringtransaction,purchase,sale,
147advance,orsimilarofaccountsreceivableowedtoahealthcareproviderbecauseofa
148patient'spersonalinjurytreatedbythehealthcareprovider;
149 (7)Aproviderthatislicensedasamoneytransmitterinaccordancewithalicense,
150certificate,orcharterissuedbythisstateoranyotherstate,district,territory,or
151commonwealthoftheUnitedStates;
152 (8)Aproviderthatconsummatesnomorethanfivecommercialfinancing
153transactionsinthisstateinatwelve-monthperiod;[or]
HB707 36 154 (9)Acommercialfinancingtransactionofmorethanfivehundredthousanddollars;
155or
156 (10)Acommercialfinancingproductthatisapremiumfinanceagreement,as
157definedinsubdivision(3)ofsection364.100,offeredorenteredintobyaproviderthatis
158aregisteredpremiumfinancecompany.
159 5.(1)Nopersonshallengageinbusinessasabrokerwithinthisstatefor
160compensation,unlesspriortoconductingsuchbusiness,thepersonhasfiledaregistration
161withthedivisionoffinancewithinthedepartmentofcommerceandinsuranceandhasonfile
162agoodandsufficientbondasspecifiedinthissubsection.Theregistrationshallbeeffective
163uponreceiptbythedivisionoffinanceofacompletedregistrationformandtherequired
164registrationfee,andshallremaineffectiveuntilthetimeofrenewal.
165 (2)Afterfilinganinitialregistrationform,abrokershallfile,onorbeforeJanuary
166thirty-firstofeachyear,arenewalregistrationformalongwiththerequiredrenewal
167registrationfee.
168 (3)Thebrokershallpayaone-hundred-dollarregistrationfeeuponthefilingofan
169initialregistrationandafifty-dollarrenewalregistrationfeeuponthefilingofarenewal
170registration.
171 (4)Theregistrationformrequiredbythissubsectionshallincludethefollowing:
172 (a)Thenameofthebroker;
173 (b)Thenameinwhichthebrokeristransactedifdifferentfromthatstatedin
174paragraph(a)ofthissubdivision;
175 (c)Theaddressofthebroker'sprincipaloffice,whichmaybeoutsidethisstate;
176 (d)Whetheranyofficer,director,manager,operator,orprincipalofthebrokerhas
177beenconvictedofafelonyinvolvinganactoffraud,dishonesty,breachoftrust,ormoney
178laundering;and
179 (e)Thenameandaddressinthisstateofadesignatedagentuponwhomserviceof
180processmaybemade.
181 (5)Ifinformationinaregistrationformchangesorotherwisebecomesinaccurate
182afterfiling,thebrokershallnotberequiredtofileafurtherregistrationformpriortothetime
183ofrenewal.
184 (6)Everybrokershallobtainasuretybondissuedbyasuretycompanyauthorizedto
185dobusinessinthisstate.Theamountofthebondshallbetenthousanddollars.Thebond
186shallbeinfavorofthestateofMissouri.Anypersondamagedbythebroker'sbreachof
187contractorofanyobligationarisingtherefrom,orbyanyviolationofthissection,maybring
188anactionagainstthebondtorecoverdamagessuffered.Theaggregateliabilityofthesurety
189shallbeonlyforactualdamagesandinnoeventshallexceedtheamountofthebond.
HB707 37 190 (7)Employeesregularlyemployedbyabrokerwhohascompliedwiththissubsection
191shallnotberequiredtofilearegistrationorobtainasuretybondwhenactingwithinthescope
192oftheiremploymentforthebroker.
193 6.(1)Anypersonwhoviolatesanyprovisionofthissectionshallbepunishedbya
194fineoffivehundreddollarsperincident,nottoexceedtwentythousanddollars,forall
195aggregatedviolationsarisingfromtheuseofthetransactiondocumentationormaterials
196foundtobeinviolationofthissection.Anypersonwhoviolatesanyprovisionofthissection
197afterreceivingwrittennoticeofapriorviolationfromtheattorneygeneralshallbepunished
198byafineofonethousanddollarsperincident,nottoexceedfiftythousanddollars,forall
199aggregatedviolationsarisingfromtheuseofthetransactiondocumentationormaterials
200foundtobeinviolationofthissection.
201 (2)Violationofanyprovisionofthissectionshallnotaffecttheenforceabilityor
202validityoftheunderlyingagreement.
203 (3)Thissectionshallnotcreateaprivaterightofactionagainstanypersonorother
204entitybaseduponcomplianceornoncompliancewithitsprovisions.
205 (4)Authoritytoenforcecompliancewiththissectionisvestedexclusivelyinthe
206attorneygeneralofthisstate.
207 7.Therequirementsofsubsections3and5ofthissectionshalltakeeffectupon
208either:
209 (1)Sixmonthsafterthedivisionoffinancefinalizespromulgatingrules,ifthe
210divisionintendstopromulgaterules;or
211 (2)February28,2025,ifthedivisiondoesnotintendtopromulgaterules.
212 8.Thedivisionoffinancemaypromulgaterulesimplementingthissection.Ifthe
213divisionoffinanceintendstopromulgaterules,itshalldeclareitsintenttodosonolaterthan
214February28,2025.Anyruleorportionofarule,asthattermisdefinedinsection536.010,
215thatiscreatedundertheauthoritydelegatedinthissectionshallbecomeeffectiveonlyifit
216complieswithandissubjecttoalloftheprovisionsofchapter536and,ifapplicable,section
217536.028.Thissectionandchapter536arenonseverableandifanyofthepowersvestedwith
218thegeneralassemblypursuanttochapter536toreview,todelaytheeffectivedate,orto
219disapproveandannularulearesubsequentlyheldunconstitutional,thenthegrantof
220rulemakingauthorityandanyruleproposedoradoptedafterAugust28,2024,shallbeinvalid
221andvoid.
570.148.1.(1)Forpurposesofthissection,afinancialinstitutionincludesany
2financialinstitutionasdefinedinsection570.010,aswellasabrokerormutualfund
3company.
4 (2)Forpurposesofthissection,afinancialinstitutionaccountincludesany
5depositaccount,brokerageaccount,ormutualfundsaccount.
HB707 38 6 2.Apersoncommitstheoffenseoffinancialinstitutionaccountsfraudifsuch
7personaccesses,uses,orestablishesanaccountatafinancialinstitutionandusesany
8falseorfraudulentpretenses,representations,orpromisesoranydevice,item,scheme,
9artifice,trick,orcoerciontocausemoneystobewithdrawnortakenfromafinancial
10institutionoracustomeraccountatafinancialinstitutionortocausemoneystobe
11transferredorpaidbythefinancialinstitutiontoanotherpersonoranotherfinancial
12institutionwiththepurposetodeprivethefinancialinstitutionorthecustomerofthe
13custodyorcontrolofthemoneys.
14 3.TheoffenseoffinancialinstitutionaccountsfraudisaclassBmisdemeanorif
15thefraudamountislessthanfivehundreddollars.
16 4.Theoffenseoffinancialinstitutionaccountsfraudshallbeasfollowsifthe
17fraudamountisfivehundreddollarsormore:
18 (1)Ifthepersonactswithcriminalnegligence,theoffenseoffinancialinstitution
19accountsfraudisaclassEfelony;
20 (2)Ifthepersonactsrecklessly,theoffenseoffinancialinstitutionaccounts
21fraudisaclassDfelony;
22 (3)Ifthepersonactsknowingly,theoffenseoffinancialinstitutionaccounts
23fraudisaclassCfelony;and
24 (4)Ifthepersonactspurposefully,theoffenseoffinancialinstitutionaccounts
25fraudisaclassBfelony.
26 5.Aprosecutormaychargeanalternativeoffenseunderthischapter,provided
27nopersonshallbeconvictedunderthissectionandanothersectionrelatedtothesame
28theftofmoneys.
[447.200.1.Ifanyconsumerdepositaccountwithabanking
2 organizationorfinancialorganization,assuchtermsaredefinedinandunder
3 section447.503,isdeterminedtobeortohavebeeninactiveforaperiodof
4 twelveormoremonthsandifinactivityfeesapplytosuchaccount,such
5 bankingorganization,bankorfinancialorganizationshallnotifythepersonor
6 depositornamedonsuchinactiveaccountofsuchinactivity.Noticemaybe
7 deliveredbyfirstclassmail,withpostageprepaid,andmarked"Address
8 CorrectionRequested",oralternatively,thenoticemaybesentordelivered
9 electronicallyiftheconsumerhasconsentedtoreceivingelectronicdisclosures
10 inaccordancewiththefederalTruthinSavingsAct,12U.S.C.Sections4301
11 to4313,andtheregulationspromulgatedpursuantthereto.
12 2.Notwithstandinganyprovisionoflawtothecontrary,forany
13 consumerdepositaccountwithabankingorganization,bankorfinancial
14 organizationthatisorthathasbeeninactivefortwelvemonthsormore,such
15 bankorfinancialorganizationshallissueannualstatementstothepersonor
16 depositornamedontheaccount.Theorganizationorabankmaychargea
HB707 39 17 servicefeeofuptofivedollarsforanystatementissuedunderthissubsection,
18 providedthatsuchfeeshallbewithdrawnfromtheinactiveaccount.
19 3.Ifanyconsumerdepositaccountwithabankingorganization,bank
20 orfinancialorganizationisdeterminedtobeortohavebeeninactivefora
21 periodoffiveyears,thefundsfromsuchaccountshallberemittedtothe
22 abandonedfundaccountestablishedundersection447.543.
23 4.Forpurposesofthissection,theword"inactive"meansaprescribed
24 periodduringwhichthereisnoactivityorcontactinitiatedbythepersonor
25 depositornamedontheaccount,whichresultsinaninactivityfeeorfeesbeing
26 chargedtotheaccount.]
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HB707 40