Section 367.532 – Violations, penalties.
Effective – 28 Aug 2001 367.532. Violations, penalties. — 1. Any title lender which fails, refuses or neglects to comply with sections 367.500 to 367.533, sections 408.551 to 408.557, sections 408.560 to 408.562, or any laws relating to title loans or commits any criminal act may have its license suspended or revoked by order of […]
Section 367.533 – Pawn or pawnbroker title prohibited.
Effective – 28 Aug 1998 367.533. Pawn or pawnbroker title prohibited. — No business licensed pursuant to sections 367.500 to 367.530 shall use the terms “pawn” or “pawnbroker” in its title, business name or advertising. ——– (L. 1998 H.B. 1526 § 12)
Section 367.509 – Qualifications of applicants, fee, license issued, when.
Effective – 28 Aug 2003 367.509. Qualifications of applicants, fee, license issued, when. — 1. A title loan license applicant must have and maintain capital of at least seventy-five thousand dollars at all times. 2. The license application shall be in writing, under oath and in the form prescribed by the director. The application shall […]
Section 367.512 – Title loan requirements — liability of borrower.
Effective – 28 Aug 2001 367.512. Title loan requirements — liability of borrower. — 1. Every title loan, and each extension or renewal of such title loan, shall be in writing, signed by the borrower and shall provide that: (1) The title lender agrees to make a loan to the borrower, and the borrower agrees […]
Section 367.515 – Interest and fees.
Effective – 28 Aug 2001 367.515. Interest and fees. — A title lender shall contract for and receive simple interest and fees in accordance with sections 408.100 and 408.140. ——– (L. 1998 H.B. 1526 § 6, A.L. 2001 H.B. 738 merged with S.B. 186)
Section 367.518 – Title loan agreements, contents, form.
Effective – 28 Aug 2002 367.518. Title loan agreements, contents, form. — 1. Each title loan agreement shall disclose the following: (1) All disclosures required by the federal Truth in Lending Act and regulation Z; (2) That the transaction is a loan secured by the pledge of titled personal property and, in at least ten-point […]
Section 367.521 – Redemption of certificate of title — expiration or default, lender may proceed against collateral.
Effective – 28 Aug 2001 367.521. Redemption of certificate of title — expiration or default, lender may proceed against collateral. — The borrower shall be entitled to redeem the security by timely satisfaction of the terms of the title loan agreement. Upon expiration or default of a title loan agreement, the title lender may proceed […]
Section 367.524 – Records of loan agreements.
Effective – 28 Aug 2001 367.524. Records of loan agreements. — 1. Every title lender shall keep a consecutively numbered record of each title loan agreement executed, which number shall be placed on the corresponding title loan agreement itself. Such record shall include the following: (1) A clear and accurate description of the titled personal […]
Section 367.525 – Notice to borrower prior to acceptance of title loan application.
Effective – 28 Aug 2001 367.525. Notice to borrower prior to acceptance of title loan application. — 1. Before accepting a title loan application, the lender shall provide the borrower the following notice in at least ten-point bold type and receipt thereof shall be acknowledged by signature of the borrower: (Name of Lender) NOTICE TO […]
Section 367.527 – Limitations of title lenders.
Effective – 28 Aug 2001 367.527. Limitations of title lenders. — 1. A title lender shall not: (1) Accept a pledge from a person under eighteen years of age or from anyone who appears to be intoxicated; (2) Make a loan which exceeds five thousand dollars; (3) Accept any waiver of any right or protection […]