Section 560.127 - Control of a money services businessA person has a controlling interest in a money services business if the person:
(1) Possesses the power, directly or indirectly, to direct the management or policies of the money services business, whether through ownership, by contract, or otherwise;(2) Directly or indirectly may vote 25 percent or more of a class of a voting security or sell or direct the sale of 25 percent or more of a class of voting securities; or(3) In the case of a partnership, may receive upon dissolution or has contributed 25 percent or more of the capital. s.1, ch. 94-238; s.1, ch. 94-354; s.707, ch. 2003-261; s.57, ch. 2006-213; s.22, ch. 2008-177.