reglab/statecodes huggingface dataset:
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.052 - Leased property, rental or installment contracts not misappropriated unless marked — defacing marks, effect — claimant may recover — pawnbroker not liable.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1998
367.052. Leased property, rental or installment contracts not misappropriated unless marked — defacing marks, effect — claimant may recover — pawnbroker not liable. —
When an item of property is the subject of a lease, rental transaction or retail installment contract with a company domiciled in the state, between the claimant and the claimant's lease or rental customer at the time it is delivered into the possession of the pawnbroker, the property shall not be deemed misappropriated unless it bears a conspicuous permanent label or marking identifying it as the claimant's property. Evidence of defacing or the removal of identification marking of leased or rented property shall be treated as marked and identified and therefore deemed to be misappropriated. Property subject to a lease, rental transaction or retail installment contract with a company domiciled in the state, which is not marked as provided in this subsection may be recovered by the claimant upon payment to the pawnbroker of all moneys owing to or advanced by the pawnbroker in the pawn or purchase transaction, and upon producing evidence identifying the property as having been the property of the claimant and leased or rented at the time the property was placed in the pawnbroker's possession. The pawnbroker shall be free from liability in connection with the recovery of leased or rental property pursuant to this subsection.
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(L. 1998 H.B. 1526 § 367.044 subsec. 7)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.053 - Titles, licenses and permits for pledged goods to remain in effect, void when — ownership passing to pawnbroker, right to retitle or relicense.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1998
367.053. Titles, licenses and permits for pledged goods to remain in effect, void when — ownership passing to pawnbroker, right to retitle or relicense. —
Any title, license or permit for pledged goods shall remain in effect during the period of the pawn transaction and shall remain valid if such pledged goods are redeemed by the pledgor, and shall be voided if the pledged goods are redeemed by someone other than the pledgor or when ownership of the pledged goods passes to the pawnbroker, who shall retitle, relicense or repermit such goods as otherwise provided by law.
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(L. 1998 H.B. 1526 § 367.044 subsec. 8)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.060 - Sections 367.011 to 367.060 not to repeal or amend small loan laws.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1951
367.060. Sections 367.011 to 367.060 not to repeal or amend small loan laws. —
Nothing in sections 367.011 to 367.060 contained shall be deemed to amend or repeal any of the provisions of sections 367.100 to 367.200 and 408.100 to 408.220.
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(L. 1951 p. 281 § 7)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.100 - Definitions.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 2001
367.100. Definitions. —
As used in sections 367.100 to 367.200:
(1)
"Consumer credit loans"
shall mean:
(a) Prior to January 1, 2002, loans for the benefit of or use by an individual or individuals:
a. Secured by a security agreement or any other lien on tangible personal property or by the assignment of wages, salary or other compensation; or
b. Unsecured and whether with or without comakers, guarantors, endorsers or sureties;
(b) Beginning January 1, 2002, and thereafter, loans for personal, family or household purposes in amounts of five hundred dollars or more;
(2)
"Director"
shall mean the director of the division of finance or such agency or agencies as may exercise the powers and duties now performed by such director;
(3)
"Lender"
shall mean any person engaged in the business of making consumer credit loans. A person who makes an occasional consumer credit loan or who occasionally makes loans but is not regularly engaged in the business of making consumer credit loans shall not be considered a lender subject to sections 367.100 to 367.200;
(4)
"Person"
shall include individuals, partnerships, associations, trusts, corporations, and any other legal entities, excepting those corporations whose powers emanate from the laws of the United States and those which under other law are subject to the supervisory jurisdiction of the director or the director of the division of credit unions of Missouri;
(5)
"Supervised business"
shall mean the business of making consumer credit loans, as herein defined, of money, credit, goods, or things in action.
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(L. 1951 p. 262 § 1, A.L. 1965 p. 114, A.L. 1977 H.B. 48, A.L. 1978 S.B. 745, A.L. 1994 H.B. 1165, A.L. 2001 H.B. 738, A.L. 2001 S.B. 186)
CROSS REFERENCE:
Interest rate on small loans, 408.100 to 408.210
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.110 - Certificate of registration required, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1951
367.110. Certificate of registration required, when. —
No lender shall engage in the business of making consumer credit loans as herein defined in this state of money, credit, goods or things in action without first having obtained a certificate of registration from the director as provided in sections 367.100 to 367.200.
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(L. 1951 p. 262 § 2)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.120 - Certificate of registration — application for.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1951
367.120. Certificate of registration — application for. —
Application for a certificate of registration shall be in writing in the form prescribed by the director. No certificate of registration is required until thirty days after sections 367.100 to 367.200 become effective, during which period such application may be made.
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(L. 1951 p. 262 § 3)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.130 - Bond — amount — conditions — additional bond, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1951
367.130. Bond — amount — conditions — additional bond, when. —
The director may require the lender to file with the director a bond in the principal amount of one thousand dollars at the time of filing the application for a certificate of registration hereunder, or at such later time as the director deems necessary for the purposes of sections 367.100 to 367.200. The lender shall be the obligor, and the surety shall be approved by the director. The bond shall run to the state of Missouri for the use of the state or any person or persons who may have a cause of action against the lender-obligor arising out of the supervised business. The condition of the bond shall be that the lender-obligor will conform to and abide by the provisions of sections 367.100 to 367.200 and the laws of the state of Missouri relating to consumer credit loans, and the assignment or sale of wages, salaries, or other compensation, and will pay to the state and to any person any and all moneys that may become due under sections 367.100 to 367.200 or under any transaction which is a part of the supervised business. If in the opinion of the director the bond shall at any time appear to be insecure or exhausted or otherwise doubtful an additional bond in the principal sum of not more than one thousand dollars in form and with surety satisfactory to the director, shall be filed within fifteen days after notice of the requirement thereof be given to the lender by the director.
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(L. 1951 p. 262 § 4)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.140 - Annual registration — fee, amount — certificates, issuance, display.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 2023, 3 histories
367.140. Annual registration — fee, amount — certificates, issuance, display. —
1. Every lender shall, at the time of filing application for certificate of registration as provided in section 367.120 hereof, pay the sum of six hundred dollars as an annual registration fee for the period ending the thirtieth day of June next following the date of payment and in full payment of all expenses for investigations, examinations and for the administration of sections 367.100 to 367.200, except as provided in section 367.160, and thereafter a like fee shall be paid on or before June thirtieth of each year; provided, that if a lender is supervised by the commissioner of finance under any other law, the charges for examination and supervision required to be paid under said law shall be in lieu of the annual fee for registration and examination required under this section. The fee shall be made payable to the director of revenue. If the initial registration fee for any certificate of registration is for a period of less than twelve months, the registration fee shall be prorated according to the number of months that said period shall run. 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.
2. Upon receipt of such fee and application for registration, and provided the bond, if required by the director, has been filed, the director shall issue to the lender a certificate containing the lender's name and address and reciting that such lender is duly and properly registered to conduct the supervised business. The lender shall keep this certificate of registration posted in a conspicuous place at the place of business recited in the registration certificate. Where the lender engages in the supervised business at or from more than one office or place of business, such lender shall obtain a separate certificate of registration for each such office or place of business.
3. Certificates of registration shall not be assignable or transferable except that the lender named in any such certificate may obtain a change of address of the place of business therein set forth. Each certificate of registration shall remain in full force and effect until surrendered, revoked, or suspended as herein provided.
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(L. 1951 p. 262 § 5, 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 367 - Pawnbrokers and Small Loans › Section 367.160 - Examination of lenders — authority of director — lender to pay costs, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 15 May 1986, see footnote
367.160. Examination of lenders — authority of director — lender to pay costs, when. —
The director, his deputies and examiners shall have full power and authority at any time and as often as reasonably necessary to investigate or examine the supervised business, affairs and loans made in the supervised business of any registered lender and of every person, firm, partnership and corporation making loans who the director has reasonable grounds to believe is subject to and violating the provisions of sections 367.100 to 367.200, for the purpose of ascertaining whether or not the lender, or such person, firm, partnership or corporation is complying with the provisions of sections 367.100 to 367.200 and the laws of Missouri relating to consumer credit loans or assignment or sale of wages or salary or other compensation. In connection with any such investigation or examination the director and his representatives shall have free and immediate access to the lender's place or places of business and his or its books and records and shall have the right and power to examine under oath all persons whomsoever whose testimony may be required relative to the affairs and business of the particular lender. Whenever it is necessary to examine the business and loans of a registered lender more than once a year or of any other lender at any time, then the lender shall be chargeable with and be required to pay the necessary cost and expenses thereof, including the actual travel expenses and a per diem of one hundred dollars for each examining official while engaged in travel to and from the place of such examination and during the period required for such examination. Whenever any lender is subject to examination by or required to make reports to municipal officers under city ordinances regulating the supervised business, such examinations or reports shall be in lieu of the examinations and reports required by the provisions of sections 367.100 to 367.200.
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(L. 1951 p. 262 § 7, A.L. 1986 H.B. 1195)
Effective 5-15-86
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.170 - Regulations — authority of director — insurance — premiums deemed not to be charges.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1984
367.170. Regulations — authority of director — insurance — premiums deemed not to be charges. —
The director is authorized and empowered to make such general regulations as may be necessary for the enforcement of sections 367.100 to 367.200 and shall issue regulations providing and governing the types and limits of insurance and the issuance of policies which may be sold in connection with consumer credit loans. The cost of any insurance shall not exceed the standard rates and the insurance shall be obtained from an insurance company duly authorized to conduct business in this state and the registrant, or any of its employees, may be licensed as an insurance agent. Insurance premiums shall not be considered as interest, service charges or fees in connection with any loan. Each such regulation shall be consistent with sections 367.100 to 367.200 and shall be referenced to the specific provision of sections 367.100 to 367.200 which is to be enforced by it. Nothing in this section shall alter or amend the statutes of this state relating to insurance or affect the powers of the director of the department of commerce and insurance under statutes relating to credit life insurance and credit accident and health insurance.
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(L. 1951 p. 262 § 8, A.L. 1984 S.B. 686 § 367.170 subsec. 1)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.180 - Lender to keep records.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1951
367.180. Lender to keep records. —
Every lender shall keep books and records of the supervised business.
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(L. 1951 p. 262 § 9)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.185 - Loan solicitation, disclosures.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1998
367.185. Loan solicitation, disclosures. —
1. Every nondepository financial institution licensed under sections 367.100 to 367.215 and otherwise defined as a person in section 367.100 shall comply with the provisions of this section.
2. In addition to any disclosures otherwise provided by law, such person soliciting loans using facsimile or negotiable checks shall disclose the following:
"THIS IS A SOLICITATION FOR A LOAN. READ THE ENCLOSED DISCLOSURES BEFORE SIGNING THIS AGREEMENT."
­­This notice shall be printed in not less than ten-point bold type and shall appear directly on the face of the check.
3. When such persons make loans secured by real estate as otherwise provided by law, such persons shall include in a printed portion of the contract the following notice:
"WARNING TO BORROWER: DEFAULT IN THE PAYMENT OF THIS LOAN AGREEMENT MAY RESULT IN THE LOSS OF THE PROPERTY SECURING THE LOAN. UNDER FEDERAL LAW YOU MAY HAVE THE RIGHT TO CANCEL THIS AGREEMENT. IF YOU HAVE THIS RIGHT, THE CREDITOR IS REQUIRED TO PROVIDE YOU WITH A SEPARATE WRITTEN NOTICE SPECIFYING THE CIRCUMSTANCES AND TIMES UNDER WHICH YOU CAN EXERCISE THIS RIGHT."
­­This notice shall be printed in not less than ten-point bold type.
4. When making or negotiating loans, such person shall take into consideration in determining the size and duration of a loan contract the financial ability of borrowers to reasonably repay the loan in the time and manner as specified in the loan contract.
5. Such person shall post in a conspicuous location in each licensed office the maximum rates and fees that such person is currently charging on any loans made.
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(L. 1998 S.B. 792)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.190 - Certificates of registration — suspension, revocation, when — hearing — review.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1951
367.190. Certificates of registration — suspension, revocation, when — hearing — review. —
In the event any lender fails, refuses, or neglects to comply with the provisions of sections 367.100 to 367.200, or of any laws of the state of Missouri relating to consumer credit loans or assignment or sale of wages, or salaries or other compensation, his or its certificate of registration for the place of business at which the violation occurred, may be suspended or revoked by order of the director after a hearing before said director on any order to show cause why such order of suspension or revocation should not be entered specifying the grounds therefor which shall be served on the particular lender at least ten days prior to the hearing. Such action shall not affect any rights or charter powers which any state bank, state trust company or national banking association has by virtue of any other law. Review may be had of any such order made and entered by the director in the manner provided by law.
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(L. 1951 p. 262 § 10)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.200 - Violations — penalty.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1951
367.200. Violations — penalty. —
If any person, firm, partnership or corporation to whom or which sections 367.100 to 367.200 apply, or any officer, agent or representative of such person, firm, partnership or corporation violates any of the provisions of said sections or shall attempt to transact any supervised business whatsoever in the name or on behalf of such person, firm, partnership or corporation, while he or it fails or refuses to comply with provisions of sections 367.100 to 367.200, each such person, firm, partnership, or corporation, agent, officer, or representative shall be deemed guilty of a misdemeanor.
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(L. 1951 p. 262 § 11)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.205 - Annual audit by certified public accountant required.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1972
367.205. Annual audit by certified public accountant required. —
All persons and entities licensed under the provisions of sections 367.100 to 367.200 shall cause an audit to be made once each year by a certified public accountant firm, of which at least one partner is the holder of a Missouri certified public accountant license. In the event that entities licensed under the provisions of sections 367.100 to 367.200 are affiliated with entities which engage in other than such licensed activities in this state or elsewhere, an audit of the financial statements which consolidate the financial statements of the licensee, made according to generally accepted auditing standards, will be sufficient for the purpose of sections 367.205 to 367.215.
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(L. 1972 S.B. 405 § 1)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.210 - Audit report to director of finance, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 1972
367.210. Audit report to director of finance, when. —
A copy of the report of the audit required by section 367.205 shall be delivered to the director of finance of the state of Missouri at least thirty days prior to the license renewal date.
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(L. 1972 S.B. 405 § 2)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.215 - Failure to file audit report, effect of — surety bond posted, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 2001
367.215. Failure to file audit report, effect of — surety bond posted, when. —
The director of finance shall not issue a renewal license to any person or entity licensed under the provisions of sections 367.100 to 367.200 unless the audit report is furnished as required by section 367.210. In lieu of the requirements of sections 367.205 to 367.215, the licensee may post a surety bond in the amount of one hundred thousand dollars. The bond shall be in a form satisfactory to the director and shall be issued by a bonding or insurance company authorized to do business in the state to secure compliance with all laws relative to consumer credit. If, in the opinion of the director, the bond shall at any time appear to be inadequate, insecure, exhausted, or otherwise doubtful, additional bond in a form and with surety satisfactory to the director shall be filed within fifteen days after the director gives notice to the licensee. A licensee may, in lieu of filing any bond required under this section, provide the director with a one hundred thousand dollar irrevocable letter of credit, as defined in section 400.5-103, issued by any bank, trust company, savings and loan or credit union operating in Missouri.
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(L. 1972 S.B. 405 § 3, A.L. 2001 H.B. 738 merged with S.B. 186)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.300 - Definitions.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• 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 money, a credit card, or a line of credit;
(3)
"Loan"
, an agreement to advance money or property in return for the promise to make payments therefor;
(4)
"Loan broker"
, any person; except any bank, savings and loan association, trust company, building and loan association, credit union, retail installment sales company, securities broker-dealer, real estate broker or salesperson, attorney, federal housing administration or veterans' administration approved lender, credit card company, installment loan licensee, mortgage banker or lender, or insurance company, provided that the person excepted is licensed by or subject to regulation or supervision of any agency of the United States or this state and, if licensed, is acting within the scope of the license; and also excepting subsidiaries of licensed or chartered banks or savings and loan associations; who:
(a) For or in expectation of consideration arranges or attempts to arrange or offers to fund a loan of money, a credit card, or a line of credit;
(b) For or in expectation of consideration assists or advises a borrower in obtaining or attempting to obtain a loan of money, a credit card, a line of credit, or related guarantee, enhancement, or collateral of any kind or nature;
(c) Acts for or on behalf of a loan broker for the purpose of soliciting borrowers; or
(d) Holds himself out as a loan broker;
(5)
"Principal"
, any officer, director, partner, joint venturer, branch manager, or other person with similar managerial or supervisory responsibilities for a loan broker.
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(L. 1992 S.B. 705)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.305 - Advance fee prohibited, penalty.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• 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 misdemeanor.
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(L. 1992 S.B. 705)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.307 - Principal liable.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• 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.
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(L. 1992 S.B. 705)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.310 - Violations deemed unlawful practice, penalty — attorney general, powers — penalties not exclusive — other rights not affected.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• 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 procedures provided in sections 407.010 to 407.130. The attorney general shall have all powers, rights and duties regarding violations of sections 367.300 to 367.310 as are provided in sections 407.010 to 407.130 and shall have the rulemaking authority as provided in section 407.145.
2. The provisions of sections 367.300 to 367.310 are not exclusive. The remedy specified in sections 367.300 to 367.310 for violation of sections 367.300 to 367.310 or for conduct described in sections 367.300 to 367.310 shall be in addition to any other procedures or remedies for any violation or conduct provided for by any other law, including chapter 407. Nothing in sections 367.300 to 367.310 shall limit any other statutory or any common law rights of the attorney general, any circuit attorney or prosecuting attorney, or any other person. If any act or practice prescribed by sections 367.300 to 367.310 is also the basis for a cause of action in common law or a violation of another statute, the purchaser may assert the common law or statutory cause of action under the procedures and with the remedies applicable thereto.
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(L. 1992 S.B. 705)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.500 - Definitions.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 2008, 2 histories
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 measured according to generally accepted accounting principles;
(3)
"Certificate of title"
, a state-issued certificate of title or certificate of ownership for personal property;
(4)
"Director"
, the director of the division of finance or its successor agency;
(5)
"Person"
, any resident of the state of Missouri or any business entity formed under Missouri law or duly qualified to do business in Missouri;
(6)
"Pledged property"
, personal property, ownership of which is evidenced and delineated by a title;
(7)
"Title lender"
, a person qualified to make title loans pursuant to sections 367.500 to 367.533 who maintains at least one title lending office within the state of Missouri, which office is open for the conduct of business not less than thirty hours per week, excluding legal holidays;
(8)
"Title lending office"
or
"title loan office"
, a location at which, or premises in which, a title lender regularly conducts business;
(9)
"Title loan agreement"
, a written agreement between a borrower and a title lender in a form which complies with the requirements of sections 367.500 to 367.533. The title lender shall perfect its lien pursuant to sections 301.600 to 301.660 but need not retain physical possession of the titled personal property at any time; and
(10)
"Titled personal property"
, any personal property excluding property qualified to be a personal dwelling the ownership of which is evidenced by a certificate of title.
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(L. 1998 H.B. 1526 § 1, A.L. 2001 H.B. 738 merged with S.B. 186, A.L. 2008 S.B. 788)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.503 - Allows division of finance to regulate lending on titled property.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• 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 361.070 and 361.080.
2. No employee of the division of finance shall have any ownership or interest in any title loan business or receive directly or indirectly any payment or gratuity from any such entity.
3. The director shall issue as many title loan licenses as may be applied for by qualified applicants.
4. No rule or portion of a rule promulgated pursuant to the authority of sections 367.500 to 367.533 shall become effective unless it has been promulgated pursuant to the provisions of chapter 536.
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(L. 1998 H.B. 1526 § 2, A.L. 2001 H.B. 738 merged with S.B. 186)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.506 - Licensure of title lenders, penalty.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• 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 to 367.533, and all title pledges accepted by such person, shall be null and void. Any borrower who enters into a title loan agreement with a person who acts in violation of the provisions of sections 367.500 to 367.533 shall not be bound by such agreement, and such borrower's only liability shall be for the return of the principal.
3. The attorney general may initiate a civil action against any person who acts as a title lender without a title loan license. Such action shall be commenced in the circuit court for any county in which the person executed any title loan agreement and any county in which any of the pledged titled personal property is normally kept. The civil penalty for title lending without a title loan license shall be not less than one thousand dollars and not more than five thousand dollars for each day that a person acts in violation of the licensing requirement. If the violation of the licensing requirement is intentional or knowing, the person shall be barred from applying for a title loan license for a period of five years from the date of the last violation.
4. A first offense violation of the licensing requirement pursuant to this section shall be a class C misdemeanor. Second and subsequent offenses shall be class A misdemeanors. For purposes of jurisdiction and venue, the crime of unlawful title lending shall be deemed to have occurred in both the county in which an unlawful title loan agreement was executed and the county in which the pledged property is normally kept.
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(L. 1998 H.B. 1526 § 3, A.L. 2001 H.B. 738 merged with S.B. 186)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.509 - Qualifications of applicants, fee, license issued, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 2003, 2 histories
367.509. Qualifications of applicants, fee, license issued, when. —
1. A title loan license applicant must have and maintain capital of at least seventy-five thousand dollars at all times.
2. The license application 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 formation if a business entity, the address of each title loan office operated or sought to be operated, the name and residential address of the owner, partners, directors, trustees and principal officers, and such other pertinent information as the director may require. A corporate surety bond in the principal sum of twenty thousand dollars per location shall accompany each license application. The bond shall be in a form satisfactory to the director and shall be issued by a bonding company or insurance company authorized to do business in this state in order to ensure the faithful performance of the obligations of the applicant and the applicant's agents and subagents in connection with title loan activities. An applicant or licensee may, in lieu of filing any bond required pursuant to this section, provide the director with an irrevocable letter of credit as defined in section 400.5-103 in the amount of twenty thousand dollars per location, issued by any bank, trust company, savings and loan or credit union operating in Missouri in a form acceptable to the director.
3. Every person applying for a title loan license shall pay one thousand dollars as an investigation fee. Applicants for additional title lending licenses shall pay one thousand dollars per additional location as an investigation fee. The lender shall, beginning with the first license renewal, pay annually to the director a fee of one thousand dollars for each licensed location.
4. Each license shall specify the location of the title loan office and shall be conspicuously displayed therein. Before any title lending office may relocate, the director shall approve such relocation by mailing the licensee a new license to that effect, without charge.
5. Upon the filing of the application, and the payment of the fee, by a person eligible to apply for a title loan license, the director shall issue a license to engage in the title loan business in accordance with sections 367.500 to 367.533. The licensing year shall commence on January first and end the following December thirty-first. 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. Each license shall be uniquely numbered and shall not be transferable or assignable.
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(L. 1998 H.B. 1526 § 4, A.L. 2001 H.B. 738 merged with S.B. 186, A.L. 2003 S.B. 346)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.512 - Title loan requirements — liability of borrower.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 2001
367.512. Title loan requirements — liability of borrower. —
1. Every title loan, and each extension or renewal of such title loan, shall be in writing, signed by the borrower and shall provide that:
(1) The title lender agrees to make a loan to the borrower, and the borrower agrees to give the title lender a security interest in unencumbered titled personal property;
(2) Whether the borrower consents to the title lender keeping possession of the certificate of title;
(3) The borrower shall have the right to redeem the certificate of title by repaying the loan in full and by complying with the title loan agreement which may be for any agreed period of time not less than thirty days;
(4) The title lender shall renew the title loan agreement upon the borrower's written request and the payment by the borrower of any interest due at the time of such renewal. However, upon the third renewal of any title loan agreement, and any subsequent renewal, the borrower shall reduce the principal by ten percent until such loan is paid in full;
(5) When the loan is satisfied, the title lender shall release its lien and return the title to the borrower;
(6) If the borrower defaults, the title lender shall be allowed to take possession of the titled personal property after compliance with chapter 400, sections 408.551 to 408.557, and sections 408.560 to 408.562;
(7) Upon obtaining possession of the titled personal property in accordance with chapter 400, sections 408.551 to 408.557, and sections 408.560 to 408.562, the title lender shall be authorized to sell the titled personal property in accordance with chapter 400, sections 408.551 to 408.557, and sections 408.560 to 408.562, and to convey to the buyer thereof good title thereto.
2. Any borrower who obtains a title loan under false pretenses by hiding or not disclosing the existence of a valid prior lien or security interest affecting the titled personal property shall be personally liable to the title lender for the full amount stated in the title loan agreement.
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(L. 1998 H.B. 1526 § 5, A.L. 2001 H.B. 738 merged with S.B. 186)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.515 - Interest and fees.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• 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.
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(L. 1998 H.B. 1526 § 6, A.L. 2001 H.B. 738 merged with S.B. 186)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.518 - Title loan agreements, contents, form.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 2002, 2 histories
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 bold type, that nonpayment of the loan may result in loss of the borrower's vehicle or other titled personal property;
(3) The name, business address, telephone number and certificate number of the title lender, and the name and residential address of the borrower;
(4) The monthly interest rate to be charged;
(5) A statement which shall be in at least ten-point bold type, separately acknowledged by the signature of the borrower and reading as follows:
You may cancel this loan without any costs by returning the full principal amount to the lender by the close of the lender's next full business day;
(6) The location where the titled personal property may be delivered if the loan is not paid and the hours such location is open for receiving such deliveries; and
(7) Any additional disclosures deemed necessary by the director or required pursuant to sections 400.9-101 to 400.9-710.
2. The division of finance is directed to draft a form to be used in title loan transactions. Use of this form is not mandatory; however, use of such form, properly completed, shall satisfy the disclosure provisions of this section.
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(L. 1998 H.B. 1526 § 7, A.L. 2001 H.B. 738 merged with S.B. 186, A.L. 2002 S.B. 895)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.521 - Redemption of certificate of title — expiration or default, lender may proceed against collateral.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 2001
367.521. Redemption of certificate of title — expiration or default, lender may proceed against collateral. —
The borrower shall be entitled to redeem the security by timely satisfaction of the terms of the title loan agreement. Upon expiration or default of a title loan agreement, the title lender may proceed against the collateral pursuant to chapter 400, and with sections 408.551 to 408.557, and sections 408.560 to 408.562.
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(L. 1998 H.B. 1526 § 8, A.L. 2001 H.B. 738 merged with S.B. 186)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.524 - Records of loan agreements.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 2001
367.524. Records of loan agreements. —
1. Every title lender shall keep a consecutively numbered record of each title loan agreement executed, which number shall be placed on the corresponding title loan agreement itself. Such record shall include the following:
(1) A clear and accurate description of the titled personal property, including its vehicle identification or serial number, license plate number, year, make, model, type, and color;
(2) The date of the title loan agreement;
(3) The amount of the loan;
(4) The date of maturity of the loan; and
(5) The name, date of birth, Social Security number, residential address, and the type of photo identification of the borrower.
2. The title lender shall photocopy the photo identification of the borrower or shall take an instant photograph of the borrower, and shall attach such photocopy or photograph to the lender's copy of the title loan agreement and all renewals.
3. The borrower shall sign the title loan agreement and shall be provided with a copy of such agreement. The title lender, or the lender's employee or agent shall also sign the title loan agreement. The title lender shall provide each customer with and retain a photocopy of the pledged title at the time the note is signed.
4. The title lender shall keep the numbered records and copies of its title loan agreements, including a copy of the notice required pursuant to subsection 1 of section 367.525, for a period of no less than two years from the date of the closing of the last transaction reflected therein. A title lender who ceases engaging in the business of making title loans shall keep these records for at least two years from the date the lender ceased engaging in the business. A title lender must notify the director to request an examination at least ten days before ceasing business.
5. The records required by this section shall be made available for inspection by any employee of the division of finance upon request during ordinary business hours without warrant or court order.
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(L. 1998 H.B. 1526 § 9, A.L. 2001 H.B. 738 merged with S.B. 186)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.525 - Notice to borrower prior to acceptance of title loan application.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 2001
367.525. Notice to borrower prior to acceptance of title loan application. —
1. Before accepting a title loan application, the lender shall provide the borrower the following notice in at least ten-point bold type and receipt thereof shall be acknowledged by signature of the borrower:
(Name of Lender)
NOTICE TO BORROWER
(1.)
Your automobile title will be pledged as security for the loan. If the loan is not repaid in full, including all finance charges, you may lose your automobile.
(2.)
This lender offers short-term loans. Please read and understand the terms of the loan agreement before signing.
I have read the above "NOTICE TO BORROWER" and I understand that if I do not repay this loan that I may lose my automobile.
__________________
Borrower
__________________
Date
2. If the loan is secured by titled personal property other than an automobile, the lender shall either provide a form with the proper word describing the security or else shall strike the word "automobile" from the three places it appears, write or print in the type of titled personal property serving as security and have the customer initial all three places.
3. The title lender shall post in a conspicuous location in each licensed office, in at least fourteen-point bold type the maximum rates that such title lender is currently charging on any loans made and the statement:
NOTICE:
Borrowing from this lender places your automobile at risk. If this loan is not repaid in full, including all finance charges, you may lose your automobile.
This lender offers short-term loans. Please read and understand the terms of the loan agreement before signing.
4. When making or negotiating loans, the title lender shall take into consideration in determining the size and duration of a loan contract the financial ability of the borrower to reasonably repay the loan in the time and manner specified in the loan contract.
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(L. 2001 H.B. 738 merged with S.B. 186)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 367 - Pawnbrokers and Small Loans › Section 367.527 - Limitations of title lenders.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 367
• Effective - 28 Aug 2001
367.527. Limitations of title lenders. —
1. A title lender shall not:
(1) Accept a pledge from a person under eighteen years of age or from anyone who appears to be intoxicated;
(2) Make a loan which exceeds five thousand dollars;
(3) Accept any waiver of any right or protection of a borrower;
(4) Fail to exercise reasonable care to protect from loss or damage certificates of title or titled personal property in the physical possession of the title lender;
(5) Purchase titled personal property in the operation of its business;
(6) Enter into a title loan agreement unless the borrower presents clear title at the time that the loan is made;
(7) Knowingly violate any provision of sections 367.500 to 367.533 or any rule promulgated thereunder;
(8) Violate any provision of sections 408.551 to 408.557 and sections 408.560 to 408.562; or
(9) Store repossessed titled personal property at a location more than fifteen miles from the office where the title loan agreement was executed.
2. If a title lender enters into a transaction contrary to this section, the loan and the lien shall be void.
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(L. 1998 H.B. 1526 § 10, A.L. 2001 H.B. 738 merged with S.B. 186)