reglab/statecodes huggingface dataset:
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 364 - Retail Credit Financing Institutions › Section 364.120 - Interest or discount, amount allowed, computation — prepayment of obligation — refund credit, calculation.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 364
• Effective - 01 Jul 2003, 2 histories, see footnote
364.120. Interest or discount, amount allowed, computation — prepayment of obligation — refund credit, calculation. —
1. A premium finance company shall not charge, contract for, receive, or collect any interest or discount charge other than as permitted by sections 364.100 to 364.160.
2. The interest or discount is to be computed on the balance of the premiums due, after subtracting the down payment made by the insured in accordance with the premium finance agreement, from the effective date of the insurance contract, for which the premiums are being advanced, to and including the date when the final installment of the premium finance agreement is payable.
3. The interest or discount shall be a maximum of fifteen dollars per one hundred dollars per year, which shall be computed as a fifteen percent add-on interest rate, plus an additional service charge of ten dollars per premium finance agreement which need not be refunded on cancellation or prepayment; except that, if the insurance premiums being financed are for other than personal, family or household purposes, the parties to the premium finance agreement may agree to any rate of interest which shall be stated in the premium finance agreement. The interest or discount permitted by this subsection anticipates timely repayment in consecutive monthly installments equal in amount for a period of one year. For repayment in greater or lesser periods or in unequal, irregular, or other than monthly installments, the interest or discount may be computed at an equivalent effective rate having due regard for the timely payments of installments.
4. Notwithstanding the provisions of any premium finance agreement, any insured may prepay the obligation in full at any time and shall receive a refund credit. The amount of the refund shall be calculated by the actuarial method of calculating refunds and no more interest shall be retained by the lender than is actually earned.
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(L. 1984 S.B. 686 § 5, A.L. 1986 H.B. 1207, A.L. 2002 S.B. 895)
Effective 7-01-03
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 364 - Retail Credit Financing Institutions › Section 364.125 - Other charges allowed.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 364
• Effective - 28 Aug 1984
364.125. Other charges allowed. —
1. A premium finance agreement may provide for the payment by the insured of a delinquency charge of up to five percent of any installment which is in default for a period of five days or more. If the premium finance agreement is for personal, family or household purposes, then the maximum delinquency charge shall be fifteen dollars. If the default results in the cancellation of any insurance contract listed in the agreement, the agreement may provide for the payment by the insured of a cancellation charge of fifteen dollars.
2. A premium finance agreement may provide for payment of collection costs and attorney's fees equal to twenty percent of the outstanding indebtedness if the premium finance agreement is referred for collection to a collection agency or attorney who are not salaried employees of the premium finance company.
3. None of the charges referred to in this section shall be considered, directly or indirectly, in determining whether a violation of the usury laws has occurred under a premium finance agreement.
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(L. 1984 S.B. 686 § 6)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 364 - Retail Credit Financing Institutions › Section 364.130 - Cancellation of finance contract under power of attorney — requirements, procedure.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 364
• Effective - 28 Aug 1984, 2 histories
364.130. Cancellation of finance contract under power of attorney — requirements, procedure. —
1. When a premium finance agreement contains a power of attorney clause enabling the premium finance company to cancel any insurance contract or contracts listed in the agreement, the insurance contract or contracts shall not be cancelled by the premium finance company unless such cancellation is done in accordance with this section.
2. Not less than ten days' written notice shall be mailed to the insured, at the last known address shown on the records of the premium finance company, of the intent of the premium finance company to cancel the insurance contract unless the default is cured within such ten-day period.
3. After expiration of such ten-day period, the premium finance company may thereafter cancel such insurance contract or contracts by mailing to the insurer a notice of cancellation. The insurance contract shall be cancelled as if such notice of cancellation had been submitted by the insured, but without requiring the return of the insurance contract or contracts. The premium finance company shall also mail a copy of the notice of cancellation to the insured at the last known address shown on the records of the premium finance company.
4. All statutory, regulatory, and contractual restrictions providing that the insurance contract may not be cancelled unless notice is given to a governmental agency, mortgagee, or other third party shall apply where cancellation is effected under the provisions of this section. The insurer shall give the prescribed notice on behalf of itself or the insured to any governmental agency, mortgagee, or other third party on or before the second business day after the day it receives the notice of cancellation from the premium finance company and shall determine the effective date of cancellation taking into consideration the number of days' notice required to complete the cancellation.
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(L. 1984 S.B. 686 § 7)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 364 - Retail Credit Financing Institutions › Section 364.135 - Return of unearned premiums on cancellation of financed contract — time allowed.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 364
• Effective - 28 Aug 1984
364.135. Return of unearned premiums on cancellation of financed contract — time allowed. —
Whenever a financed insurance contract is cancelled, the insurer shall return whatever gross unearned premiums are due under the insurance contract directly to the premium finance company for the account of the insured or insureds as soon as reasonably possible, but in no event later than sixty days after the effective date of cancellation. In the event that the crediting of return premiums to the account of the insured results in a surplus over the amount due from the insured, the premium finance company shall refund such excess to the insured, provided that no such refund shall be required if it amounts to less than one dollar.
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(L. 1984 S.B. 686 § 8)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 364 - Retail Credit Financing Institutions › Section 364.140 - Filing of agreement not required for validity against creditors.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 364
• Effective - 28 Aug 1984, 2 histories
364.140. Filing of agreement not required for validity against creditors. —
No filing of the premium finance agreement shall be necessary to perfect the validity of such agreement as a secured transaction as against creditors, subsequent purchasers, pledgees, encumbrancers, trustees in bankruptcy or any other insolvency proceeding under any law, or anyone having the status or power of the aforementioned or their successors or assigns.
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(L. 1984 S.B. 686 § 9)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 364 - Retail Credit Financing Institutions › Section 364.145 - Revenue deposited to state general revenue fund.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 364
• Effective - 28 Aug 1984
364.145. Revenue deposited to state general revenue fund. —
All revenues collected by or paid to the director under the provisions of sections 364.100 to 364.160 shall be forwarded immediately to the director of revenue, who shall deposit them in the general revenue fund.
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(L. 1984 S.B. 686 § 10)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 364 - Retail Credit Financing Institutions › Section 364.150 - Application of law.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 364
• Effective - 28 Aug 1984, 2 histories
364.150. Application of law. —
The licensing provisions of sections 364.100 to 364.160 shall not apply to any insurance agent or insurance broker licensed to do business in this state. Nor shall the provisions of sections 364.100 to 364.160 apply to insurance premiums financed in connection with credit transactions.
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(L. 1984 S.B. 686 § 11)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 364 - Retail Credit Financing Institutions › Section 364.160 - Violation of law — misdemeanor.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 364
• Effective - 28 Aug 1984, 2 histories
364.160. Violation of law — misdemeanor. —
Any premium finance company willfully and knowingly violating the provisions of sections 364.100 to 364.160 shall be guilty of a class A misdemeanor.
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(L. 1984 S.B. 686 § 13)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 365 - Motor Vehicle Time Sales › Section 365.010 - Citation of law.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 365
• Effective - 28 Aug 1999, 2 histories
365.010. Citation of law. —
Sections 365.010 to 365.160 shall be known and may be cited as the "Missouri Motor Vehicle Time Sales Law".
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(L. 1963 p. 466 § 1, A.L. 1999 S.B. 386)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 365 - Motor Vehicle Time Sales › Section 365.030 - Sales finance company, license required — exceptions — application — fee.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 365
• Effective - 28 Aug 2023, 4 histories
365.030. Sales finance company, license required — exceptions — application — fee. —
1. No person shall engage in the business of a sales finance company in this state without a license as provided in this chapter; except, that no bank, trust company, savings and loan association, loan and investment company or registrant under the provisions of sections 367.100 to 367.200 authorized to do business in this state is required to obtain a license under this chapter but shall comply with all of the other provisions of this chapter.
2. The application for the license shall be in writing, under oath and in the form prescribed by the director. The application shall contain the name of the applicant; date of incorporation, if incorporated; the address where the business is or is to be conducted and similar information as to any branch office of the applicant; the name and resident address of the owner or partners or, if a corporation or association, of the directors, trustees and principal officers, and such other pertinent information as the director may require.
3. The license fee for each calendar year or part thereof shall be the sum of six hundred dollars for each place of business of the licensee in this state. The director may establish a biennial licensing arrangement but in no case shall the fees be payable for more than one year at a time.
4. Each license shall specify the location of the office or branch and must be conspicuously displayed there. In case the location is changed, the director shall either endorse the change of location on the license or mail the licensee a certificate to that effect, without charge.
5. Upon the filing of the application, and the payment of the fee, the director shall issue a license to the applicant to engage in the business of a sales finance company under and in accordance with the provisions of this chapter for a period which shall expire the last day of December next following the date of its issuance. The license shall not be transferable or assignable. No licensee shall transact any business provided for by this chapter under any other name.
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(L. 1963 p. 466 § 3, A.L. 1986 H.B. 1195, A.L. 2003 S.B. 346, A.L. 2015 H.B. 587 merged with S.B. 345, A.L. 2023 S.B. 13)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 365 - Motor Vehicle Time Sales › Section 365.040 - License denied or suspended — grounds — hearing and review.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 365
• Effective - 28 Aug 1963, 2 histories
365.040. License denied or suspended — grounds — hearing and review. —
1. Renewal of a license originally granted under this chapter may be denied, or a license may be suspended or revoked by the director on the following grounds:
(1) Material misstatement in the application for license;
(2) Willful failure to comply with any provision of this chapter relating to retail installment contracts;
(3) Defrauding any retail buyer to the buyer's damage;
(4) Fraudulent misrepresentation, circumvention or concealment by the licensee through whatever subterfuge or device of any of the material particulars or the nature thereof required to be stated or furnished to the retail buyer under this chapter.
2. If a licensee is a partnership, association or corporation, it shall be sufficient cause for the suspension or revocation of a license that any officer, director or trustee of a licensed association or corporation, or any member of a licensed partnership, has so acted or failed to act as would be cause for suspending or revoking a license to the party as an individual. Each licensee shall be responsible for the acts of any or all of his employees while acting as his agent, if the licensee after actual knowledge of the acts retained the benefits, proceeds, profits or advantages accruing from the acts or otherwise ratified the acts.
3. No license shall be denied, suspended or revoked except after hearing thereon. The hearing and review thereof shall be conducted according to chapter 536.
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(L. 1963 p. 466 § 4)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 365 - Motor Vehicle Time Sales › Section 365.050 - Director may examine persons, inspect records — complaints of violations.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 365
• Effective - 28 Aug 1963, 2 histories
365.050. Director may examine persons, inspect records — complaints of violations. —
1. The director, or his duly authorized representative, may make such investigation as he shall deem necessary and, to the extent necessary for this purpose, he may examine the licensee or any other person having personal knowledge of the matters under investigation, and shall have the power to compel the production of all relevant books, records, accounts and documents of licensees and other persons with respect to their retail installment transactions.
2. Any retail buyer having reason to believe that this chapter relating to his retail installment contract has been violated may file with the director a written complaint setting forth the details of the alleged violation and the director, upon receipt of the complaint, may inspect the pertinent books, records, letters and contracts of the licensee and other persons and of the retail seller involved, relating to the specific written complaint.
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(L. 1963 p. 466 § 5)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 365 - Motor Vehicle Time Sales › Section 365.060 - Rules and regulations, procedure — subpoenas, enforced how.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 365
• Effective - 28 Aug 1995, 2 histories
365.060. Rules and regulations, procedure — subpoenas, enforced how. —
1. The director may adopt and promulgate such reasonable rules and regulations as shall be necessary to carry out the intent and purposes of this chapter. A copy of every rule or regulation shall be mailed to each licensee and to each bank, trust company, loan and investment company, financing institution, and registrant under sections 367.100 to 367.200, postage prepaid, at least fifteen days in advance of its effective date, but the failure of a licensee or other person to receive a copy of the rules or regulations does not exempt him from the duty of compliance with rules and regulations lawfully promulgated hereunder. No rule or portion of a rule promulgated under the authority of this chapter shall become effective unless it has been promulgated pursuant to the provisions of section 536.024.
2. The director shall issue subpoenas to compel the attendance of witnesses and the production of documents, papers, books, records and other evidence before him in any matter over which he has jurisdiction, control or supervision pertaining to this chapter. The director may administer oaths and affirmations to any person whose testimony is required.
3. If any person refuses to obey any subpoena, or to give testimony, or to produce evidence as required thereby, any judge of the circuit court of the county in which the licensed premises are located may, upon application and proof of the refusal, make an order awarding process of subpoena or subpoena duces tecum for the witness to appear before the director and to give testimony, and to produce evidence as required thereby. Upon filing the order, in the office of the clerk of the court, the clerk shall issue process of subpoena, as directed, under the seal of the court, requiring the person to whom it is directed, to appear at the time and place therein designated.
4. If any person served with any subpoena refuses to obey the same, and to give testimony, and to produce evidence as required thereby, the director may apply to the judge of the court issuing the subpoena for an attachment against the person, as for a contempt. The judge, upon satisfactory proof of the refusal, shall issue an attachment, directed to any sheriff, constable or police officer, for the arrest of the person, and, upon his being brought before the judge, proceed to a hearing of the case. The judge may enforce obedience to the subpoena, and the answering of any question, and the production of any evidence that may be proper by a fine, not exceeding one hundred dollars, or by imprisonment in the county jail, or by both fine and imprisonment, and to compel the witness to pay the costs of the proceeding to be taxed.
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(L. 1963 p. 466 § 6, A.L. 1993 S.B. 52, A.L. 1995 S.B. 3)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 365 - Motor Vehicle Time Sales › Section 365.090 - Transfer of equity in motor vehicle — fee.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 365
• Effective - 28 Aug 1963, 2 histories
365.090. Transfer of equity in motor vehicle — fee. —
A buyer may transfer his equity in the motor vehicle in which the holder has a property interest at any time to another person upon agreement by the holder, but in that event and if the original buyer is released from further liability the holder of the contract shall be entitled to a transfer of equity fee which shall not exceed fifteen dollars.
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(L. 1963 p. 466 § 9)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 365 - Motor Vehicle Time Sales › Section 365.100 - Late payment charges, interest on delinquent payments, attorney fees — dishonored or insufficient funds fee — convenience fee imposed, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 365
• Effective - 28 Aug 2021, 5 histories
365.100. Late payment charges, interest on delinquent payments, attorney fees — dishonored or insufficient funds fee — convenience fee imposed, when. —
1. For contracts entered into on or after August 28, 2005, if the contract so provides, the holder thereof may charge, finance, and collect:
(1) A charge for late payment on each installment or minimum payment in default for a period of not less than fifteen days in an amount not to exceed five percent of each installment due or the minimum payment due or twenty-five dollars, whichever is less; except that, a minimum charge of ten dollars may be made, or when the installment is for twenty-five dollars or less, a charge for late payment for a period of not less than fifteen days shall not exceed five dollars, provided, however, that a minimum charge of one dollar may be made;
(2) Interest on each delinquent payment at a rate which shall not exceed the highest lawful contract rate. In addition to such charge, the contract may provide for the payment of attorney fees not exceeding fifteen percent of the amount due and payable under the contract where the contract is referred for collection to any attorney not a salaried employee of the holder, plus court costs;
(3) A reasonable service fee not to exceed the amount permitted under subdivision (2) of subsection 6 of section 570.120 for any check, draft, order, or like instrument that is returned unpaid by a financial institution, plus an amount equal to the actual fees charged by the financial institution for each check, draft, order, or like instrument returned unpaid; and
(4) All other reasonable expenses incurred in the origination, servicing, and collection of the amount due under the contract.
2. A holder of a contract may impose a convenience fee for payments using an alternative payment channel that accepts a debit or credit card not present transaction, nonface-to-face payment, provided that:
(1) The person making the payment is notified of the convenience fee; and
(2) The fee is fixed or flat, except that the fee may vary based upon method of payment used.
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(L. 1963 p. 466 § 10, A.L. 1994 S.B. 718, A.L. 2002 S.B. 895, A.L. 2004 S.B. 1233, et al., A.L. 2017 H.B. 292, A.L. 2021 S.B. 106)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 365 - Motor Vehicle Time Sales › Section 365.110 - Blank spaces in contract prohibited — exceptions.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 365
• Effective - 28 Aug 1963
365.110. Blank spaces in contract prohibited — exceptions. —
No retail installment contract shall be signed by any party thereto when it contains blank spaces to be filled in after it has been signed except that, if delivery of the motor vehicle is not made at the time of the execution of the contract, the identifying number or marks or similar information and the due dates of the installments may be inserted in the contract after its execution, and except that the contract may be so signed provided the buyer is given at the time of the execution a bill of sale, invoice or similar memorandum clearly indicating the cash sale price, the gross down payment and the types of insurance coverage. The buyer's written acknowledgment, conforming to the requirements of subsection 4 of section 365.070, of delivery of a copy of a contract shall be conclusive proof of the delivery, that the contract when signed did not contain any blank spaces except as herein provided, and of compliance with section 365.070 in any action or proceeding by or against a holder of the contract without knowledge to the contrary when he purchased the contract.
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(L. 1963 p. 466 § 11)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 365 - Motor Vehicle Time Sales › Section 365.120 - Time price differential, computed how.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 365
• Effective - 28 Aug 2002
365.120. Time price differential, computed how. —
1. Notwithstanding the provisions of any other law, the time price differential included in a retail installment transaction on any motor vehicle without regard to the year model designated by the manufacturer, the retail seller may charge, contract and receive any time price differential agreed to by the retail buyer, expressed in the contract as a percent per annum that shall apply to the contract regardless of its repayment schedule.
2. The time price differential shall be computed on the principal balance as a percent per annum. A minimum time price differential of twenty-five dollars may be charged on any retail installment transaction.
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(L. 1963 p. 466 § 12, A.L. 1980 H.B. 1195, A.L. 1981 S.B. 5 Revision, A.L. 2002 H.B. 2008)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 365 - Motor Vehicle Time Sales › Section 365.125 - Rates, parties may agree to a rate, restrictions.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 365
• Effective - 28 Aug 1984
365.125. Rates, parties may agree to a rate, restrictions. —
As an alternative to the time price differential authorized by section 365.120, the parties may agree to any rate or amount of time price differential not exceeding a rate or amount authorized by section 408.450, but any such agreement shall be subject to the restrictions and conditions of sections 408.450 to 408.467.
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(L. 1984 H.B. 1170)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 365 - Motor Vehicle Time Sales › Section 365.140 - Prepayment of debt under retail installment contract — refund, how computed — proof of payment.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 365
• Effective - 28 Aug 2021, 2 histories
365.140. Prepayment of debt under retail installment contract — refund, how computed — proof of payment. —
Notwithstanding the provisions of any retail installment contract to the contrary any buyer may prepay in full, whether by payment in cash, extension or renewal, at any time before maturity the debt of any retail installment contract and on so paying the debt shall receive a refund credit thereon for the anticipation of payment. The amount of the refund shall be calculated by the actuarial method. The lender shall retain no more interest than is actually earned whenever a retail installment contract is prepaid. Any insurance rendered unnecessary by reason of prepayment shall be cancelled by the holder and any refund of premiums received by the holder shall be treated in accordance with the provisions of subsection 2 of section 365.080. If a retail installment contract is paid in full, the holder shall provide the buyer proof of payment in full which may be by a letter referencing the contract, which shall include information identifying the contract such as the original loan date, account number or other identifying number or code, or by returning the original contract or a copy thereof that is marked as paid in full by the holder.
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(L. 1963 p. 466 § 13, A.L. 1986 H.B. 1207, A.L. 2002 S.B. 895, A.L. 2021 S.B. 106)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 365 - Motor Vehicle Time Sales › Section 365.145 - Default — discrimination, law applicable to retail installment transactions.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 365
• Effective - 28 Aug 1984
365.145. Default — discrimination, law applicable to retail installment transactions. —
Sections 408.551 to 408.562 shall apply to any retail installment transaction made pursuant to sections 365.010 to 365.160.
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(L. 1984 H.B. 1170)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 365 - Motor Vehicle Time Sales › Section 365.150 - Violation a misdemeanor — penalty — recovery barred — correction of violation, effect.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 365
• Effective - 28 Aug 1984
365.150. Violation a misdemeanor — penalty — recovery barred — correction of violation, effect. —
1. Any person who knowingly violates any provision of this chapter or engages in the business of a sales finance company in this state without a license therefor as provided in this chapter is guilty of a class B misdemeanor.
2. Any person violating section 365.070, 365.080, 365.090, 365.100, 365.110, 365.120, 365.130, 365.140, or 365.145 shall be barred from recovery of any time price differential, delinquency or collection charge on the contract.
3. Notwithstanding the other provisions of this section, the failure to comply with any provision of this chapter with respect to any retail installment transaction may be corrected by the seller or holder within thirty days after the date of the sale, and, if so corrected, neither the seller nor the holder shall be subject to any criminal penalty or civil forfeiture under this chapter for the failure.
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(L. 1963 p. 466 § 14, A.L. 1984 H.B. 1170)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 365 - Motor Vehicle Time Sales › Section 365.160 - Waiver unenforceable.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 365
• Effective - 28 Aug 1963
365.160. Waiver unenforceable. —
Any waiver of the provisions of this chapter is unenforceable and void.
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(L. 1963 p. 466 § 15)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 365 - Motor Vehicle Time Sales › Section 365.200 - Additional time sale contracts.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 365
Effective - 01 Mar 2011, 2 histories, see footnote
365.200. Additional time sale contracts. —
1. For any motor vehicle which is not subject to the Missouri motor vehicle time sales law as provided in sections 365.010 to 365.160, a seller is permitted to include in the contractual time sale of a motor vehicle the outstanding balance of a prior loan or lease of a motor vehicle used as a trade-in. For the purposes of this section, a
"time sale contract"
is a contract evidencing an installment transaction entered into in this state pursuant to which the title to or a lien upon the motor vehicle which is the subject of the installment transaction is retained or taken by the seller from the buyer as security for the buyer's obligation. The term includes a security agreement or a contract for the bailment or leasing of the motor vehicle by which the bailee or lessee contracts to pay as compensation for its use a sum substantially equivalent to or in excess of its value and by which it is agreed that the bailee or lessee is bound to become, or has the option of becoming, the owner of a motor vehicle upon satisfying the contract.
"Motor vehicle"
is any new or used automobile, mobile home, manufactured home as defined in section 700.010, excluding a manufactured home with respect to which the requirements of subsections 1 to 3 of section 700.111, as applicable, have been satisfied, motorcycle, truck, trailer, semitrailer, truck tractor or bus.
2. Any seller as provided in this section shall first qualify as a retail seller pursuant to sections 365.010 to 365.160.
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(L. 1999 S.B. 386, A.L. 2010 S.B. 630)
Effective 3-01-11
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.011 - Definitions.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1990
367.011. Definitions. —
As used in sections 367.011 to 367.060, the following words mean:
(1)
"Month"
, that period of time from one date in a calendar month to the corresponding date in the following calendar month, but if there is no such corresponding date, then the last day of such following month, and when computations are made for a fraction of a month, a day shall be one-thirtieth of a month;
(2)
"Net assets"
, the book value of the current assets of a person or pawnbroker less its applicable liabilities as stated in this subdivision. Current assets include the investment made in cash, bank deposits, merchandise inventory, and loans due from customers excluding the pawn service charge. Current assets do not include the investments made in fixed assets of real estate, furniture, fixtures, or equipment; investments made in stocks, bonds, or other securities; or investments made in prepaid expenses or other general intangibles. Applicable liabilities include trade or other accounts payable; accrued sales, income, or other taxes; accrued expenses; and notes or other payables that are unsecured or secured in whole or part by current assets. Applicable liabilities do not include liabilities secured by assets other than current assets. Net assets must be represented by a capital investment unencumbered by any liens or other encumbrances to be subject to the claims of general creditors;
(3)
"Pawnbroker"
, any person engaged in the business of lending money on the security of pledged goods or engaged in the business of purchasing tangible personal property on condition that it may be redeemed or repurchased by the seller for a fixed price within a fixed period of time;
(4)
"Pawnshop"
, the location at which or premises in which a pawnbroker regularly conducts business;
(5)
"Person"
, an individual, partnership, corporation, joint venture, trust, association or any other legal entity however organized;
(6)
"Pledged goods"
, tangible personal property other than choses in action, securities, or printed evidences of indebtedness, which property is deposited with or otherwise actually delivered into the possession of a pawnbroker in the course of his business in connection with a pawn transaction;
(7)
"Secured personal credit loan"
, every loan of money made in this state, the payment of which is secured by a security interest in tangible personal property which is physically delivered into the hands of the lender at the time of the making of the loan and which is to be retained by the lender while the loan is a subsisting obligation.
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(L. 1951 p. 281 § 1, A.L. 1965 p. 114, A.L. 1990 H.B. 1125)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.021 - Secured personal credit loans — who may make — interest rate.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1993
367.021. Secured personal credit loans — who may make — interest rate. —
1. Subject only to constitutional police regulations, not affecting the loan fee and the interest rate authorized by this section, in force in any municipality or county wherein secured personal credit loans are made, any person, natural or corporate, may make secured personal credit loans, regardless of the nature and character of any business in which the lender may at the time of making any such loan be engaged, and regardless of whether the lender may at the same time be engaged in making loans in other classifications, at the same, or at a higher or lower loan fee and interest rate than authorized by this section to be collected and paid to the lender on secured personal credit loans.
2. The maximum rate of interest which may be charged for making and carrying any secured personal credit loan shall not exceed two percent per month on the amount of such loan. Lenders may also charge for the storage and security of such pledged property.
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(L. 1951 p. 281 § 2, A.L. 1990 H.B. 1125, A.L. 1993 S.B. 18)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.045 - Customer failure to repay pawnbroker when notified that goods pledged or sold were misappropriated, penalty.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 01 Jan 2017, 2 histories, see footnote
367.045. Customer failure to repay pawnbroker when notified that goods pledged or sold were misappropriated, penalty. —
1. When the tangible personal property subject to the pawn or sales transaction has been delivered or awarded to a claimant pursuant to section 367.044, and within ten business days after a written demand for payment and notice is deposited by the pawnbroker as certified or registered mail in the United States mail and addressed to the conveying customer, the conveying customer fails to repay the pawnbroker the full amount incurred by the pawnbroker in connection with such property and the procedure described in section 367.044, the conveying customer shall have committed the crime of fraudulently pledging or selling misappropriated property.
2. Fraudulently pledging or selling property is a class B misdemeanor if the amount received by the conveying customer from the pawnbroker was less than fifty dollars. Fraudulently pledging or selling property is a class A misdemeanor if the amount received by the conveying customer from the pawnbroker was more than fifty dollars and less than one hundred fifty dollars. Fraudulently pledging or selling property is a class D felony if the amount received by the conveying customer from the pawnbroker was one hundred fifty dollars or more.
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(L. 1993 S.B. 18, A.L. 1998 H.B. 1526, A.L. 2014 S.B. 491)
Effective 1-01-17
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.046 - Procedure to reclaim purchase price of misappropriated goods.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1998, 2 histories
367.046. Procedure to reclaim purchase price of misappropriated goods. —
1. To obtain from a pawnbroker the amount of purchase for tangible personal property which a purchaser claims was misappropriated prior to the purchase, the purchaser shall file a petition in a court of competent jurisdiction in the county where the pawnbroker's pawnshop is located, requesting the return of the purchase amount, naming the pawnbroker as a defendant and serving the pawnbroker with the petition. The provisions of section 482.305 to the contrary notwithstanding, a court of competent jurisdiction shall include a small claims court, even if the purchase amount named in the petition is greater than three thousand dollars. Upon receiving notice that a petition has been filed by a purchaser for the amount of purchase, the purchaser shall hold the purchased property until the right to possession is resolved by the parties or by a court of competent jurisdiction, unless such property is subject to a hold order for law enforcement purposes and a law enforcement officer has provided written acknowledgment that the property has been released to the officer.
2. Upon being served notice that a petition has been filed pursuant to this section, the pawnbroker may return the amount of purchase to the purchaser prior to a decision being rendered on the purchaser's petition by the court. The pawnbroker shall return the amount of purchase to the purchaser conditioned only upon the purchaser withdrawing the petition filed with a court of competent jurisdiction seeking the disposition of such property. The provisions of this section to the contrary notwithstanding, the pawnbroker shall not be required to pay any costs incurred by the purchaser and the purchaser shall not be required to pay any costs incurred by the pawnbroker when the amount of purchase is returned to the purchaser pursuant to this subsection.
3. When a purchaser files a petition pursuant to this section, the pawnbroker may bring the conveying customer of the alleged misappropriated property into the action as a third-party defendant. If after notice to the pawnbroker and an opportunity to add the conveying customer as a defendant, the purchased property is found by a court to have been misappropriated and purchased by the purchaser in good faith, then:
(1) The prevailing purchaser may recover from the pawnbroker the cost of the action, including attorney's fees;
(2) The conveying customer shall be liable to repay the pawnbroker the full amount received from the pawn or sales transaction, including all applicable fees and interest charged and the costs incurred by the pawnbroker in pursuing the procedure described in this section, including attorney's fees.
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(L. 1998 H.B. 1526)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.047 - Hold order in effect, pawnbroker may release property to peace officer, not waiver of property rights — sale of property under hold order prohibited.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1998
367.047. Hold order in effect, pawnbroker may release property to peace officer, not waiver of property rights — sale of property under hold order prohibited. —
1. Upon written notice from a law enforcement officer indicating that property in the possession of a pawnbroker and subject to a hold order is needed for the purpose of furthering a criminal investigation and prosecution, the pawnbroker shall release the property subject to the hold order to the custody of the law enforcement officer for such purpose and the officer shall provide a written acknowledgment that the property has been released to the officer. The release of the property to the custody of the law enforcement officer shall not be considered a waiver or release of the pawnbroker's property rights or interest in the property. Upon completion of the criminal investigation, the property shall be returned to the pawnbroker who consented to its release; except that if the law enforcement officer has not completed the criminal investigation within one hundred twenty days after its release, the officer shall immediately return the property to the pawnbroker or obtain and furnish to the pawnbroker a warrant for the continued custody of the property.
2. Except as provided in subsection 1 of this section, the pawnbroker shall not release or dispose of the property except pursuant to a court order or the expiration of the holding period of the hold order, including all extensions.
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(L. 1993 S.B. 18, A.L. 1998 H.B. 1526)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.048 - Criminal charges filed and disposition of case, notice to pawnbroker, duty of prosecutor or circuit attorney — release of hold order, procedure.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1998
367.048. Criminal charges filed and disposition of case, notice to pawnbroker, duty of prosecutor or circuit attorney — release of hold order, procedure. —
1. The prosecuting attorney or the circuit attorney shall notify the pawnbroker in writing in cases where criminal charges have been filed and the property may be needed as evidence. The notice shall contain the case number, the style of the case and a description of the property.
2. The pawnbroker shall hold such property until receiving notice of the disposition of the case from the prosecuting attorney or the circuit attorney. The prosecuting attorney or the circuit attorney shall notify the pawnbroker and claimant in writing within fifteen days of the disposition of the case.
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(L. 1993 S.B. 18, A.L. 1998 H.B. 1526)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.049 - No criminal or civil liability for pawnbroker exercising due care and good faith.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1993
367.049. No criminal or civil liability for pawnbroker exercising due care and good faith. —
A licensed pawnbroker, or agent or employee of the licensed pawnbroker, who acts, pursuant to the provisions of sections 367.011 to 367.060, in good faith, exercises due care and follows the provisions of the law, shall not be subject to criminal or civil liability for any such act.
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(L. 1993 S.B. 18)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.050 - Violation, penalties.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1998
367.050. Violation, penalties. —
1. In addition to any other penalty which may be applicable, any person who operates a pawnshop pursuant to the provisions of sections 367.011 to 367.060, or is required to be licensed pursuant to section 367.043 who willfully violates any provision of sections 367.011 to 367.060 or who willfully makes a false entry in any records specifically required by sections 367.011 to 367.060 shall be guilty of a misdemeanor and upon conviction thereof shall be punishable by a fine not in excess of five thousand dollars, or by confinement in the county jail for not more than six months, or by both such fine and imprisonment. Upon the second conviction of the offense described in this section, in addition to being punishable by fine or imprisonment, the person's pawnshop license shall be permanently revoked; except that there shall be no penalty for a violation resulting from an accidental and bona fide error, where such error is corrected upon discovery.
2. Except as provided in subsection 6 of section 367.043, any person who engages in the business of operating a pawnshop without first securing a license shall be guilty of a misdemeanor and upon conviction thereof shall be punishable by a fine not in excess of ten thousand dollars or by confinement in the county jail for not more than one year, or by both such fine and imprisonment. Any person who violates the provisions of this subsection shall be permanently prohibited from securing or holding a valid pawnshop license.
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(L. 1951 p. 281 § 5, A.L. 1955 p. 241, A.L. 1990 H.B. 1125, A.L. 1998 H.B. 1526)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.051 - Jurisdiction of state courts for all civil actions — nonresident to appoint secretary of state as agent for service.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1998
367.051. Jurisdiction of state courts for all civil actions — nonresident to appoint secretary of state as agent for service. —
The sale or pledge of tangible personal property by any person shall be deemed:
(1) An agreement by the person who sells or pledges that the person shall be subject to the jurisdiction of the courts of this state in all civil actions and proceedings, arising out of the pledge or sale transaction, filed either by a resident or nonresident plaintiff;
(2) An appointment by any nonresident of the secretary of state as the person's lawful attorney and agent upon whom may be served all process in suits pertaining to the actions and proceedings arising out of the pledge or sale; and
(3) An agreement by any nonresident that any process in any suit so served shall be of the same legal force and validity as if personally served in this state.
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(L. 1998 H.B. 1526 § 367.044 subsec. 6)