Effective – 28 Aug 1992 367.300. Definitions. — As used in sections 367.300 to 367.310, unless the context otherwise requires, the following terms shall mean: (1) “Advance fee”, any consideration which is assessed or collected prior to the closing by a loan broker; (2) “Borrower”, a person obtaining or desiring to obtain a loan of […]
Effective – 28 Aug 1992 367.305. Advance fee prohibited, penalty. — 1. No loan broker shall charge, assess, collect or receive an advance fee from a borrower to provide services as a loan broker. 2. The knowing charging, assessment, collection or receipt of an advance fee, in violation of this section, is a class A […]
Effective – 28 Aug 1992 367.307. Principal liable. — Each principal of a loan broker shall be liable under sections 407.010 to 407.140 for the actions of the loan broker, including its agents or employees, in the course of business of the loan broker. ——– (L. 1992 S.B. 705)
Effective – 28 Aug 1992 367.310. Violations deemed unlawful practice, penalty — attorney general, powers — penalties not exclusive — other rights not affected. — 1. Violation of any provision of sections 367.300 to 367.310 shall be deemed an unlawful practice under sections 407.010 to 407.130 and shall be subject to all penalties, remedies and […]
