Effective – 28 Aug 2021, 2 histories 408.100. Applicability of section — rate of interest. — This section shall apply to all loans which are not made as permitted by other laws of this state except that it shall not apply to loans which are secured by a lien on real estate. On any loan […]
Effective – 28 Aug 1985 408.105. Precomputed loans, extensions, fee, limitations. — 1. Extensions on precomputed loans made pursuant to section 408.100 shall be calculated on an actuarial basis or as follows and shall not be considered an additional charge or fee within the meaning of section 408.140: Total Finance Charge UNIT CHARGE (UC) = […]
Effective – 28 Aug 1996 408.110. Short title — applicability of sections 408.120 to 408.190. — Sections 408.120 to 408.190 shall apply only to loans made pursuant to section 408.100, and shall be known as the “Consumer Loan Act”. ——– (L. 1951 p. 875 § 408.032, A.L. 1981 S.B. 326, A.L. 1996 H.B. 1432)
Effective – 28 Aug 1981 408.120. Interest computed and paid, how. — The total interest for payment according to schedule may be added to the principal of the loan, but interest shall not be discounted or deducted from the principal of the loan, or paid or received at the time the loan is made, and […]
Effective – 28 Aug 1994 408.130. Borrower to receive statement of contract — contents — prepayment effect — receipts for payments. — 1. At the time the loan is made, there shall be delivered to the borrower, or, if there are two or more borrowers, to one of them, a written statement or copy of […]
Effective – 28 Aug 2021, 5 histories 408.140. Additional charges or fees prohibited, exceptions — no finance charges if purchases are paid for within certain time limit, exception. — 1. No further or other charge or amount whatsoever shall be directly or indirectly charged, contracted for or received for interest, service charges or other fees […]
Effective – 01 Jan 1999 408.145. Fees for credit cards issued in contiguous states. — 1. To encourage competitive equality, lenders issuing credit cards in this state pursuant to the authority of section 408.100 or 408.200, may in addition to lawful interest, contract for, charge and collect fees for such credit cards which any lender […]
Effective – 28 Aug 1982 408.150. Lender can not receive excess interest — failure by lender to return excess interest, damages allowed. — If any amount in excess of the interest permitted by sections 408.100 to 408.190 is charged or received on any loan except as the result of a bona fide error, the lender […]
Effective – 28 Aug 1951 408.160. False advertising prohibited. — No person, firm, or corporation shall print, publish, distribute or cause the same to be done in any manner whatsoever, any written or printed statement with regard to interest or charges, terms or conditions for the lending of money which is false or calculated to […]
Effective – 01 Jul 2003 408.170. Contracts paid in full before due date — recomputations of interest — refund defined. — 1. If a note or loan contract providing for amount of interest, added to the principal of the loan, is prepaid in full (by cash, renewal, or refinancing) one month or more before the […]
Effective – 28 Aug 1959 408.175. Interest rate when maturity of note or contract accelerated. — If the maturity of a note or loan contract providing for an amount of interest added to the principal of the loan is accelerated, the unpaid balance shall be reduced by the refund of that portion of the amount […]
Effective – 28 Aug 2021, 2 histories 408.178. Deferral of monthly loan payments, fee authorized for certain loans. — Notwithstanding any other law to the contrary, and provided the debtor agrees in writing, the lender may collect a fee in advance for allowing the debtor to defer monthly loan payments, so long as the fee […]
Effective – 28 Aug 1951 408.180. Authority of director to verify interest rates charged. — The director of finance shall have the power and duty to verify the correctness of the rate and amount of interest charged or received and the refund of interest made on any loan which is subject to section 408.100. ——– […]
Effective – 28 Aug 2004 408.190. Certain loans exempt from sections 408.120 to 408.180, and 408.200. — Sections 408.120 to 408.180 and 408.200 shall not apply to any loan on which the rate or amount of interest and fees charged or received are lawful under Missouri law without regard to the rates permitted in section […]
Effective – 01 Jan 1999 408.193. Credit cards, no derogatory reports to credit agencies for carrying a zero balance. — 1. For the purposes of this section, the term “credit card” shall mean a credit device defined as such in the federal Consumer Credit Protection Act. 2. Any entity that issues credit cards in this […]
Effective – 28 Aug 1998 408.200. Borrower not to be indebted on two or more contracts with same lender, when. — No lender shall permit any borrower to be indebted to such lender on two or more contracts at any time for the purpose or with the result of contracting for or receiving more interest […]
Effective – 28 Aug 1951 408.210. Assignment of wages or compensation — excess over loan deemed interest. — The payment of four hundred dollars or less in money, credit, goods, or things in action, as consideration for any sale or assignment of, or order for the payment of wages, salary, commissions, or other compensation for […]
Effective – 28 Aug 2004 408.213. Changes to certain sections remedial only. — The changes in sections 408.140, 408.145, 408.190, and 408.232 are remedial and should be given that construction; however, this section shall have no effect, favorably or unfavorably, on any case filed in court prior to January 1, 2004. ——– (L. 2004 H.B. […]
