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SB 1482 - Currently, a family trust company is not permitted to conduct business in Missouri without first registering with the Secretary of State ("Secretary"). This act provides that a family trust company shall instead file, with the Director of the Division of Finance ("Director"), the initial registration and original filing fee along with the relevant proposed business filings and fees required by the Secretary. The family trust company shall not conduct business until it has received an order approving the application from the Director, who shall file with the Secretary the order, the proposed business filings, and required filing fees. Any family trust company that was in good standing with the Secretary as of August 28, 2024, shall be deemed to have complied with the requirements of this act. Furthermore, the Director shall enforce the provisions of this act and carry out the duties and functions originally assigned to the Secretary. KATIE O'BRIEN
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