Effective 28 Aug 2017

362.1030. Family trust company fund established — filing fee, amount — registration requirements — application, contents. — 1. There is hereby established in the state treasury the "Family Trust Company Fund", which shall consist of all fees collected by the secretary from family trust companies registering as provided in this section. The state treasurer shall be custodian of the fund. In accordance with sections 30.170 and 30.180, the state treasurer may approve disbursements. The fund shall be a dedicated fund, and moneys in the fund shall be used solely to support the secretary's role and fulfillment of duties under sections 362.1010 to 362.1117. Notwithstanding the provisions of section 33.080 to the contrary, any moneys remaining in the fund at the end of the biennium shall revert to the credit of the general revenue fund. The state treasurer shall invest moneys in the fund in the same manner as other funds are invested. Any interest and moneys earned on such investments shall be credited to the fund.

2. No family trust company shall conduct business in this state unless such family trust company pays a one-time original filing fee of five thousand dollars to the secretary and registers with the secretary in a format prescribed by the secretary. The secretary shall deposit all family trust company filing fees into the family trust company fund established under subsection 1 of this section.

3. To register, a family trust company that is not a foreign family trust company shall file its organizational instrument with the secretary. At a minimum, the organizational instrument shall state:

(1) The name of the designated relative;

(2) That the family trust company is a family trust company as defined under sections 362.1010 to 362.1117; and

(3) That its operations will comply with sections 362.1010 to 362.1117.

4. A foreign family trust company shall register by filing with the secretary:

(1) An initial registration to begin operations as a foreign family trust company; and

(2) An application for a certificate of authority in accordance with and subject to chapter* 347 or 351.

5. A foreign family trust company application shall be submitted on a form prescribed by the secretary and be signed, under penalty of perjury, by an authorized representative. At a minimum, the application shall include:

(1) A statement attesting that the foreign family trust company:

(a) Will comply with the provisions of sections 362.1010 to 362.1117; and

(b) Is in compliance with the family trust company laws and regulations of the jurisdiction of its incorporation or organization;

(2) The current telephone number and street address of:

(a) The foreign family trust company's principal place of business in the jurisdiction of its incorporation or organization;

(b) The foreign family trust company's principal place of operations; and

(c) Any other offices located within this state;

(3) The name and current street address in this state of its registered agent;

(4) A certified copy of a certificate of good standing, or an equivalent document, authenticated by the official having custody of records in the jurisdiction where the foreign family trust company is incorporated or organized;

(5) Satisfactory proof, as determined by the secretary, that the foreign family trust company is organized in a manner similar to a Missouri family trust company and is in compliance with the family trust company laws and regulations of the jurisdiction in which the foreign family trust company was incorporated or organized; and

(6) Any other information reasonably and customarily required by the secretary of foreign corporations or foreign limited liability companies seeking to qualify to conduct business in this state.

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(L. 2017 H.B. 292)

*Word "chapters" appears in original rolls.