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 367.500 – Definitions.
Effective – 28 Aug 2008 367.500. Definitions. — As used in sections 367.500 to 367.533, unless the context otherwise requires, the following terms mean: (1) “Borrower”, a person who borrows money pursuant to a title loan agreement; (2) “Capital”, the assets of a person less the liabilities of that person. Assets and liabilities shall be […]
Section 367.503 – Allows division of finance to regulate lending on titled property.
Effective – 28 Aug 2001 367.503. Allows division of finance to regulate lending on titled property. — 1. The director shall administer and regulate sections 367.500 to 367.533. The director, deputy director, other assistants and examiners, and all special agents and other employees shall keep all information concerning title lenders confidential as required by sections […]
Section 367.506 – Licensure of title lenders, penalty.
Effective – 28 Aug 2001 367.506. Licensure of title lenders, penalty. — 1. Any person who acts as a title lender without a title loan license is subject to both civil and criminal penalties. 2. All title loan agreements entered into by a person who acts in violation of the licensing requirements of sections 367.500 […]