§ 620.3920 — Scope of the regulatory sandbox.

Missouri § 620.3920

• Jurisdiction: Missouri
• Title XL: ADDITIONAL EXECUTIVE DEPARTMENTS
• Ch. 620: Department of Economic Development

Text

1.  If the regulatory relief office approves an application pursuant to section 620.3915 , the sandbox participant shall have twenty-four months after the day on which the application was approved to demonstrate the innovative offering described in the sandbox participant's application.

2.  An innovative offering that is demonstrated within the sandbox program shall only be available to consumers who are residents of Missouri or of another state.  No regulation shall be waived or suspended if waiving or suspending such regulation would prevent a consumer from seeking restitution in the event that the consumer is harmed.

3.  Nothing in sections 620.3900 to 620.3930 shall restrict a sandbox participant that holds a license or other authorization in another jurisdiction from acting in that jurisdiction in accordance with such license or other authorization.

4.  (1)  During the demonstration period, a sandbox participant shall not be subject to the enforcement of state regulations identified in the written agreement between the regulatory relief office and the sandbox participant.

(2)  A prosecutor shall not file or pursue charges for failing to comply with the regulation identified in the written agreement between the regulatory relief office and the sandbox participant that occurs during an approved demonstration period.

(3)  A state agency shall not file or pursue any punitive action against a sandbox participant, including a fine or license suspension or revocation, for the violation of a regulation that is identified as being waived or suspended in the written agreement between the regulatory relief office and the sandbox participant that occurs during the demonstration period.

5.  Notwithstanding any provision of this section to the contrary, a sandbox participant shall not have immunity related to any criminal offense committed during the sandbox participant's participation in the sandbox program.

6.  By written notice, the regulatory relief office may end a sandbox participant's participation in the sandbox program at any time and for any reason, including if the sandbox program director determines that a sandbox participant is not operating in good faith to bring an innovative offering to market; provided, however, that the sandbox program director's decision may be overridden by an affirmative vote of a two-thirds majority of the members of the advisory committee.

7.  The regulatory relief office and regulatory relief office's employees shall not be liable for any business losses or the recouping of application expenses or other expenses related to the sandbox program, including for:

(1)  Denying an applicant's application to participate in the sandbox program for any reason; or

(2)  Ending a sandbox participant's participation in the sandbox program at any time and for any reason.

Legislative History

(L. 2024 S.B. 894 & 825)