Mo. Rev. Stat. § 361.903

Current with changes from the 2024 Legislative Session

Section 361.903 - Purpose

Sections 361.900 to 361.1035 are designed to replace existing state money transmission laws currently codified in law and to:

(1) Ensure states may coordinate in all areas of regulation, licensing, and supervision to eliminate unnecessary regulatory burden and more effectively utilize regulator resources;

(2) Protect the public from financial crime;

(3) Standardize the types of activities that are subject to licensing or otherwise exempt from licensing; and

(4) Modernize safety and soundness requirements to ensure customer funds are protected in an environment that supports innovative and competitive business practices.

§ 361.903, RSMo

Added by 2024 Mo. Laws, SB 1359,s A, eff. 8/28/2024.