1. A licensee adding or replacing any key individual shall: (1) Provide notice in a manner prescribed by the director within fifteen days after the effective date of the key individual's appointment; and(2) Provide information as required by section 361.939 within forty-five days of the effective date.2. Within ninety days of the date on which the notice provided under subsection 1 of this section was determined to be complete, the director may issue a notice of disapproval of a key individual if the competence, experience, character, or integrity of the individual would not be in the best interests of the public or the customers of the licensee to permit the individual to be a key individual of such licensee.3. A notice of disapproval shall contain a statement of the basis for disapproval and shall be sent to the licensee and the disapproved individual. A licensee may appeal a notice of disapproval under chapter 536 within thirty days after receipt of such notice of disapproval.4. If the notice provided under subsection 1 of this section is not disapproved within ninety days after the date on which the notice was determined to be complete, the key individual is deemed approved.5. If a multistate licensing process includes a key individual notice review and disapproval process under this section and the licensee avails itself or is otherwise subject to the multistate licensing process: (1) The director is authorized to accept the determination of another state if the investigating state has sufficient staffing, expertise, and minimum standards for the purpose of this section; or(2) If this state is a lead investigative state, the director is authorized to investigate the applicant under subsection 2 of this section and the time frames established by agreement through the multistate licensing process.Added by 2024 Mo. Laws, SB 1359,s A, eff. 8/28/2024.