Section 492.133 – Installment Sale Contract; Prior Contracts.
492.133 Installment sale contract; prior contracts. Sec. 33. The provisions of this act shall not apply to or affect the validity of any contract otherwise within the purview of this act which is made prior to the effective date of the respective provisions of this act governing such contracts. History: 1950, Ex. Sess., Act 27, […]
Section 492.121 – Installment Sale Contract; Prepayment of Unpaid Time Balance; Rebate of Unearned Finance Charge.
492.121 Installment sale contract; prepayment of unpaid time balance; rebate of unearned finance charge. Sec. 21. (1) The buyer, notwithstanding the provisions of any installment sale contract, may prepay at any time all or a part of the unpaid time balance under an installment sale contract. (2) Except as provided in section 41, when all […]
Section 492.122 – Installment Sale Contract; Payments.
492.122 Installment sale contract; payments. Sec. 22. An installment sale contract may provide for a series of weekly, semi-monthly or monthly payments in substantially equal periods and amounts, followed by a single larger payment of the unpaid time balance, in which event the installment buyer shall have the right to an option, at the time […]
Section 492.122a – Truth in Lending Act; Effect of Compliance.
492.122a Truth in lending act; effect of compliance. Sec. 22a. Compliance with the requirements of the truth in lending act, title I of Public Law 90-321, 15 U.S.C. 1601 to 1608, 1610 to 1613, 1615, 1631 to 1635, 1637 to 1638, 1640 to 1647, and 1661 to 1667e is compliance with the disclosure provisions of […]
Section 492.123-492.127 – Repealed. 1962, Act 174, Eff. Jan. 1, 1964.
492.123-492.127 Repealed. 1962, Act 174, Eff. Jan. 1, 1964. Compiler’s Notes: The repealed sections pertained to the regulation of repossessions, redemptions, resales and deficiency judgments, and the rights, of parties with respect thereto.
Section 492.128 – Installment Sale Contract; Buyer Furnished Statement of Account, Contents; Fee for Additional Statement.
492.128 Installment sale contract; buyer furnished statement of account, contents; fee for additional statement. Sec. 28. (a) At any time after execution of an installment sale contract and within 1 year after termination of such contract, the holder of such contract shall furnish the buyer, upon request, with a complete and detailed statement of account […]
Section 492.129 – Installment Sale Contract; Receipt, Contents; Payment by Mail.
492.129 Installment sale contract; receipt, contents; payment by mail. Sec. 29. (a) Whenever payment is made on account of any installment sale contract, the person receiving such payment shall, at the time of receiving such payment, furnish to the buyer or to the person making the payment on behalf of the buyer, a complete written […]
Section 492.130 – Installment Sale Contract; Payment in Full, Release, Discharge, Instruments Delivered to Buyer.
492.130 Installment sale contract; payment in full, release, discharge, instruments delivered to buyer. Sec. 30. (a) Upon payment in full of the time balance and other amounts lawfully due under an installment sale contract, the holder shall, unless the buyer is otherwise indebted to the holder and has secured such debt by lien upon the […]
Section 492.114 – Installment Sale Contract; Condition of Signing; Acceleration Clause; Right of Repossession; Prohibited Provisions.
492.114 Installment sale contract; condition of signing; acceleration clause; right of repossession; prohibited provisions. Sec. 14. (a) An installment sale contract shall not be signed by a party to the contract unless it contains all of the information and statements required by this act. (b) An installment sale contract shall not contain an acceleration clause […]
Section 492.114a – Evidence of Obligation; Holder Subject to Claims and Defenses of Buyer; Limitation on Buyer’s Recovery; Mandatory Provision in Installment Sale Contract; Sales to Which Section Applicable; Action to Collect Debt; Designation of Disinterested Third Party to Receive Payments; Amount and Distribution of Payments.
492.114a Evidence of obligation; holder subject to claims and defenses of buyer; limitation on buyer’s recovery; mandatory provision in installment sale contract; sales to which section applicable; action to collect debt; designation of disinterested third party to receive payments; amount and distribution of payments. Sec. 14a. (a) A person shall not take a negotiable instrument, […]