SS SCS HCS HB 2201 -- RESIDENTIAL MORTGAGE PROFESSIONALS AND
CONSERVATOR INVESTMENTS

This bill renames the Missouri Secure and Fair Enforcement for
Mortgage Licensing and Residential Mortgage Brokers Licensing Act
to the Missouri Secure and Fair Enforcement for Mortgage
Licensing Act.  Any exempt entity as defined by Section 443.803,
RSMo, on July 7, 2009, will be exempt from the licensing
requirements of the Nationwide Mortgage Licensing System and
Registry under the Secure and Fair Enforcement (SAFE) for
Mortgage Licensing Act provisions of the federal Housing and
Recovery Act of 2008 until June 1, 2010.  Any exempt entity
licensed between July 8, 2009, and June 1, 2010, will not be
eligible for any refund of licensure fees.

The probate code is revised to allow a conservator of an estate
of a protectee to invest liquid assets in financial institutions
insured by the National Credit Union Share Insurance Fund.
Currently, a conservator may only invest the assets in an
institution insured by the Federal Deposit Insurance Corporation.

The bill contains an emergency clause for the provisions
regarding the renaming of the Missouri Secure and Fair
Enforcement for Mortgage Licensing Act.

Missouri House of Representatives
95th General Assembly, 2nd Regular Session
Last Updated September 14, 2010 at 3:13 pm