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, […]
Section 492.115 – Installment Sale Contract; Sale, Transfer, Assignment; Notice to Buyer; Exception; Assignment Contracts.
492.115 Installment sale contract; sale, transfer, assignment; notice to buyer; exception; assignment contracts. Sec. 15. (a) Whenever an installment sale contract is lawfully sold, transferred or assigned to a person who is licensed as a sales finance company, pursuant to the provisions of this act, such new holder shall furnish to the buyer in such […]
Section 492.116 – Installment Sale Contract; Insurance of Vehicle, Limitation, Coercion Prohibited; Premium Cost, Buyer’s Certificate, Terms of Contract, Cancellation.
492.116 Installment sale contract; insurance of vehicle, limitation, coercion prohibited; premium cost, buyer’s certificate, terms of contract, cancellation. Sec. 16. (a) The buyer of a motor vehicle under an installment sale contract may be required to provide insurance on such motor vehicle at the buyer’s expense for the protection of the seller or subsequent holder. […]
Section 492.116a – Unexpired Insurance Premiums; Crediting.
492.116a Unexpired insurance premiums; crediting. Sec. 16a. If unexpired insurance premiums received by the seller or holder resulting from the cancellation of insurance which was originally placed by the buyer’s expense cannot be used in procuring comparable insurance as in section 16, subsection (g), such unexpired insurance premiums shall be credited to the last maturing […]
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 […]
Section 492.119 – Installment Sale Contract; Extension; Refinance Charges; Maximum Rate; Cash Loans.
492.119 Installment sale contract; extension; refinance charges; maximum rate; cash loans. Sec. 19. (a) The holder of an installment sale contract may extend the scheduled due date, defer a payment or payments, or renew the unpaid time balance of the contract. (b) The holder may contract for, receive, and collect a refinance charge for the […]
Section 492.120 – Installment Sale Contract; Default Charge; Maximum Rate; Computation; Collection.
492.120 Installment sale contract; default charge; maximum rate; computation; collection. Sec. 20. A default charge may be collected on each installment payment of an installment sale contract, including a contract subject to section 41, that is not paid on or before the due date of the payment. The default charge shall not exceed the rate […]
Section 492.111 – Books, Accounts and Records; Maintenance.
492.111 Books, accounts and records; maintenance. Sec. 11. (a) Every licensee shall maintain, at the place of business designated in the license certificate, such books, accounts and records of the business conducted under the license issued for such place of business as will enable the administrator to determine whether the business of the licensee contemplated […]
Section 492.112 – Installment Sale Contract; Contents; Signatures; Buyer’s Copy; Notice; Form; Delivery Acknowledgment; Payments; Applicability.
492.112 Installment sale contract; contents; signatures; buyer’s copy; notice; form; delivery acknowledgment; payments; applicability. Sec. 12. (a) An installment sale contract shall be in writing, and shall contain all of the agreements between the buyer and the seller relating to the installment sale of the motor vehicle sold, and shall be signed by both the […]