Missouri Reintroduces its Commercial Financing Disclosure Bill
In a preview of what’s to come in 2023, Missouri State Senator Justin Brown (R) has reintroduced a commercial financing disclosure bill. SB 187, which is significantly less stringent than the law about to go into effect in California, nonetheless would require brokers to be licensed in the state.
“The act requires registration with the Division of Finance prior to engaging in business as a commercial financial broker,” the bill states. “Specifically, the act requires filing a registration form, submitting a fee of $100, and obtaining a surety bond in the amount of $10,000. A registration renewal is required every year…”
This bill was introduced last year but failed to advance. Other states that are expected to reintroduce similar bills this year include Connecticut and Maryland.Last modified: December 7, 2022