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Section 492.123-492.127 – Repealed. 1962, Act 174, Eff.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492.123-492.127 Repealed. 1962, Act 174, Eff.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 Compiler’s Notes: The repealed sections pertained to the regulation of repossessions, redemptions, resales and deficiency judgments, and the rights, of parties with respect thereto.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 492.131 – Installment Sale Contract; Limitation on Charges; Charges Prohibited; Equity Transfer.
492.131 Installment sale contract; limitation on charges; charges prohibited; equity transfer. Sec. 31. (a) A licensee under this act shall not charge, contract for, collect, or receive from the buyer, directly or indirectly, any further or other amount for costs, charges, examination, appraisal, service, brokerage, commission, expense, interest, discount, fees, fines, penalties, or other thing […]
Section 492.132 – Installment Sale Contract; Waiver.
492.132 Installment sale contract; waiver. Sec. 32. No act, agreement or statement of any buyer in any installment sale contract shall constitute a valid waiver of any provision of this act intended by the legislature for the benefit or protection of retail installment buyers of motor vehicles. History: 1950, Ex. Sess., Act 27, Eff. Mar. […]
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 492.117 – Installment Sale Contract; Costs; Fees.
492.117 Installment sale contract; costs; fees. Sec. 17. (a) In addition to the cost of insurance premiums and travel emergency benefits authorized in the preceding section of this act, the seller of a motor vehicle under an installment sale contract may require the buyer to pay certain other costs incurred in the sale of a […]
Section 492.118 – Finance Charge on Installment Sale Contract; Maximum Rate; Computation.
492.118 Finance charge on installment sale contract; maximum rate; computation. Sec. 18. (1) A seller licensed under this act may charge the buyer a finance charge on any installment sale contract covering the retail sale of a motor vehicle in this state. The finance charge shall not exceed the rate permitted by the credit reform […]