Mo. Code Regs. tit. 11 § 45-9.030

Current through Register Vol. 49, No. 23, December 2, 2024

Section 11 CSR 45-9.030 - Minimum Internal Control Standards

PURPOSE: The amendment updates the information regarding where the individual chapters of the Minimum Internal Control Standards are located.

PURPOSE: This rule establishes the minimum requirements for the licensees' internal control systems.

(1) The commission shall adopt and publish minimum standards for internal control procedures that in the commission's opinion satisfy 11 CSR 45-9.020, as set forth in the Minimum Internal Control Standards (MICS). The individual chapters that comprise the MICS are established by individual regulations in this chapter.

(2) Each licensee shall adopt an internal control system that complies with the MICS. The procedures must be approved by the commission. In the event that the MICS are amended, each licensee whose procedures are affected by the amended minimum standards shall, within ten (10) days of the effective date of the amended rule, amend its written system, submit a copy of the written system as amended to the commission and comply with the standards and system as amended. The commission, in its sole and absolute discretion, may extend the time for complying with this rule.

11 CSR 45-9.030

AUTHORITY: section 313.004, RSMo 2000 and sections 313.800 and 313.805, RSMo Supp. 2008.* Emergency rule filed Sept. 1, 1993, effective Sept. 20, 1993, expired Jan. 17, 1994. Emergency rule filed Jan. 5, 1994, effective Jan. 18, 1994, expired Jan. 30, 1994. Original rule filed Sept. 1, 1993, effective Jan. 31, 1994. Emergency amendment filed March 18, 1996, effective March 28, 1996, expired Sept. 23, 1996. Amended: Filed March 18, 1996, effective Oct. 30, 1996. Amended: Filed Sept. 12, 1996, effective March 30, 1997. Amended: Filed July 2, 1997, effective Feb. 28, 1998. Amended: Filed May 13, 1998, effective Oct. 30, 1998. Amended: Filed June 4, 1999, effective Jan. 30, 2000. Amended: Filed Oct. 29, 1999, effective May 30, 2000. Amended: Filed March 1, 2002, effective Sept. 30, 2002. Amended: Filed May 6, 2003, effective Jan. 30, 2004. Amended: Filed March 31, 2005, effective Oct. 30, 2005. Amended: Filed Feb. 28, 2007, effective Oct. 30, 2007. Emergency amendment filed Oct. 29, 2008, effective Nov. 15, 2008, expired May 13, 2009. Amended: Filed Oct. 29, 2008, effective April 30, 2009.

Amended by Missouri Register February 16, 2016/Volume 41, Number 04, effective 3/31/2016

Amended by Missouri Register February 15, 2023/Volume 48, Number 4, effective 3/31/2023

*Original authority: 313.004, RSMo 1993, amended 1994; 313.800, RSMo 1991, amended 1993, 1994, 2005; and 313.805, RSMo 1991, amended 1993, 1994, 2000, 2008.