20 CSR 2250-8

Citation: 20 CSR 2250-8
Jurisdiction: Missouri (state)
Source: Official source
Original Source: https://www.sos.mo.gov/cmsimages/adrules/csr/current/20csr/20c2250-8.pdf ↗

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AUTHORITY: section 339.120, RSMo Supp. 1993.* This rule originally
filed as 4 CSR 250-8.140. Original rule filed Nov. 14, 1978, effective 20 CSR 2250-8.155 Closing a Real Estate Brokerage Firm
Feb. 11, 1979. Amended: Filed June 15, 1990, effective Dec. 31, 1990.
Amended: Filed Feb. 2, 1994, effective Aug. 28, 1994. Moved to 20 PURPOSE: This rule informs licensees of the procedures they need
CSR 2250-8.140, effective Aug. 28, 2006. to follow when closing a real estate firm.

*Original authority: 339.120, RSMo 1941, amended 1963, 1967, 1981, 1988, 1993. (1) Voluntary Closing.
(A) A real estate brokerage shall be closed in the following
manner. The individual broker or the designated broker shall—
20 CSR 2250-8.150 Closings and Closing Statements 1. Notify the commission in writing on a form prescribed by
the commission of the effective date of the closing, the location
PURPOSE: This rule requires that a broker deliver a closing where the records will be stored, and that all requirements of
statement, containing a complete, accurate and detailed statement 20 CSR 2250-8.155(1) have been met;
showing all receipts and disbursements at the time a contract is 2. Notify all licensees associated with the brokerage
consummated to the interested party. If the closing is handled by in writing of the effective date of closing. The licenses of

John R. Ashcroft (6/30/23) CODE OF STATE REGULATIONS 13
Secretary of State
DIVISION 2250—MISSOURI REAL ESTATE 20 CSR 2250-8—DEPARTMENT OF COMMERCE
COMMISSION AND INSURANCE