Missouri Revised Statutes

Chapter 408
Legal Tender and Interest

(View Entire Chapter)

August 28, 2013

408.010. Silver a legal tender.
408.015. Definitions.
408.020. When no rate of interest is agreed upon, nine percent allowed as legal
408.030. Interest, maximum rate allowed--penalty for overcharge, limitation on
action for--"market rate" to be determined, when, how--discounting
to financial organizations authorized.
408.031. Fee in lieu of interest may be charged on loan--exception.
408.032. Recording fees.
408.035. Unlimited interest, when allowed.
408.036. Prepayment penalty by lender prohibited, exception--maximum permitted,
exceptions--return of moneys above maximum permitted.
408.040. Interest on judgments, how regulated--prejudgment interest allowed
when, procedure.
408.050. Excess interest paid recoverable with costs and attorney fee.
408.052. Points prohibited, exception--penalties for illegal points--violation
a misdemeanor--default charge authorized, when, exceptions.
408.060. Defendant may plead usury--judgment, how rendered--corporations cannot
enter plea of usury.
408.070. Usurious interest--security agreement invalid.
408.080. Interest may be paid on interest--compounding limited to once a
month--prohibited for certain loans.
408.081. Validity of certain existing contract not to be affected, when.
408.083. Credit contracts, prepayment before maturity, computation of interest.
408.090. Demand loans where only securities are pledged not subject to usury
408.092. Attorney fees, enforcement of credit agreements, limitations.
408.095. Charging interest of more than two percent per month a misdemeanor,
408.096. Loan arrangement, excess fee prohibited for certain
408.100. Applicability of section--rate of interest.
408.105. Precomputed loans, extensions, fee, limitations.
408.110. Short title--applicability of sections 408.120 to 408.190.
408.120. Interest computed and paid, how.
408.130. Borrower to receive statement of contract--contents--prepayment
effect--receipts for payments.
408.140. Additional charges or fees prohibited, exceptions--no finance charges
if purchases are paid for within certain time limit, exception.
408.145. Fees for credit cards issued in contiguous states.
408.150. Lender can not receive excess interest--failure by lender to return
excess interest, damages allowed.
408.160. False advertising prohibited.
408.170. Contracts paid in full before due date--recomputations of
interest--refund defined.
408.175. Interest rate when maturity of note or contract accelerated.
408.178. Deferral of monthly loan payments, fee authorized for certain loans.
408.180. Authority of director to verify interest rates charged.
408.190. Certain loans exempt from sections 408.120 to 408.180, and 408.200.
408.193. Credit cards, no derogatory reports to credit agencies for carrying a
zero balance.
408.200. Borrower not to be indebted on two or more contracts with same
lender, when.
408.210. Assignment of wages or compensation--excess over loan deemed interest.
408.213. Changes to certain sections remedial only.
408.231. Definitions.
408.232. Rates and terms.
408.233. Additional charges authorized.
408.234. Minimum amount of loan--collateral--prepayment rights, method of
408.235. Director may examine certain lenders.
408.236. Recovery of interest barred, when, exceptions--actions taken or
omitted in reliance on interpretation by division of finance, effect.
408.237. Applicability of sections 408.231 to 408.241.
408.240. Penalties--actions taken or omitted in reliance on written
interpretation by division, effect.
408.241. Prepayment fee, second mortgage loans, allowed when.
408.250. Definitions.
408.260. Time contract, how executed--required contents--additional notes to
cut off buyer's rights prohibited--waiver of buyer's legal remedies
408.270. Retail time contracts negotiated by mail--delivery unnecessary--notice
of insertions in blanks.
408.280. Insurance purchased to secure retail time contract, regulation.
408.290. Retail charge agreement--form--delivery to buyer--contents.
408.300. Time charges, amount authorized on retail time contracts--retail
charge agreements, time charges authorized.
408.310. Assignments of retail time contracts and charge agreements--notice to
buyer, effect.
408.320. Buyer may pay retail time contract debt before maturity--refund of
408.330. Delinquency and collection charges permitted--insurance premium in
lieu of perfecting security interest authorized--attorney
fees--consolidation of contracts.
408.340. Applicability to prior transactions.
408.350. Waiver of provisions void.
408.360. Citation of law.
408.365. Acceleration clauses, repossession or confession of judgment by power
of attorney, right of entry to repossess and waiver of damages from
repossession provisions, prohibited.
408.370. Violation, penalty--effect on time and other charges--correction.
408.375. Retail installment agreement, deemed signed or accepted, when.
408.380. Sale of certain financial products and plans associated with certain
loan transactions not prohibited.
408.400. Definitions.
408.405. Defenses or setoffs arising from transaction good against holder of
security instrument, when.
408.410. Exempt transactions.
408.415. Chapter 400 is modified by provisions of sections 408.400 to 408.415.
408.450. (Repealed L. 2003 H.B. 221 A merged with S.B. 346 A)
408.455. Variable rate agreements subject to certain provisions.
408.460. (Repealed L. 2003 H.B. 221 A merged with S.B. 346 A)
408.465. (Repealed L. 2003 H.B. 221 A merged with S.B. 346 A)
408.467. (Repealed L. 2003 H.B. 221 A merged with S.B. 346 A)
408.470. (Repealed L. 2003 H.B. 221 A merged with S.B. 346 A)
408.500. Unsecured loans of five hundred dollars or less, licensure of lenders,
interest rates and fees allowed--penalties for violations--cost
of collection expenses--notice required, form.
408.505. Term of loans, charges permitted, repayment, return check charge.
408.506. Report to the general assembly, contents.
408.510. Licensure of consumer installment lenders--interest and fees allowed.
408.550. Discrimination prohibited--damages recoverable.
408.551. Applicability of sections 408.551 to 408.562--credit transaction
408.552. Enforceability of default provisions.
408.553. Recovery limitation.
408.554. Notice of default, contents, form, delivery.
408.555. Acceleration, repossession and cancellation restricted--required
procedures--borrower's right to cure.
408.556. Actions arising from default, contents of petition--default judgment
requires sworn testimony--recovery of unpaid balances.
408.557. Notice required before deficiency action may be commenced.
408.558. Security interests not to be taken, when.
408.560. Unenforceable provisions in note or credit contract.
408.562. Damages recoverable for violation.
408.570. Definitions.
408.575. Denial of loans prohibited, when, reasons for.
408.580. Applications to be accepted--written reasons for rejection
required--display of statute required--retention of
records--rulemaking, procedure.
408.585. Limitation on requirements of sections 408.570 to 408.600.
408.590. Division directors, report to governor and department director,
408.592. (Repealed L. 2013 H.B. 329 A merged with S.B. 235 A)
408.595. Financial institutions to make other annual report, contents.
408.600. Division directors to enforce provisions of sections 408.570 to
408.600--complaints, how handled--hearings--remedies.
408.653. (Repealed L. 2003 H.B. 221 A merged with S.B. 346 A)
408.654. (Repealed L. 2003 H.B. 221 A merged with S.B. 346 A)
408.675. Citation of law--definitions.
408.677. Government access to records, when--requirements.
408.680. Financial institution may not disclose, exceptions, requirements.
408.682. Customer authorization, requirements.
408.683. Subpoena, government may obtain records with, when--procedure--notice
408.685. Delay of notice, allowed when--postdisclosure notice, form of.
408.686. Challenge to subpoena--procedure, appeals.
408.687. Financial institution to assemble records upon subpoena--delivery of
records, when.
408.689. Transfer of records to additional agency, allowed when--notice.
408.690. Nonprohibited disclosure activities.
408.692. Law not applicable to government authority, when--procedure.
408.693. Fee paid to financial institution, amount, how determined.
408.695. Statute of limitations.
408.696. Civil liability for violation, amount--disciplinary action against
agency employee, when--good faith a valid defense, when--exclusive
408.697. Injunctive relief, allowed when.
408.699. Statute of limitations, tolled when.
408.700. Subpoena issued under authority of grand jury, records, use of.

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