2011 Missouri Revised Statutes
TITLE XXVI TRADE AND COMMERCE
Chapter 408 Legal Tender and Interest
Section 408.020. When no rate of interest is agreed upon, nine percent allowed as legal interest.


MO Rev Stat § 408.020. What's This?

When no rate of interest is agreed upon, nine percent allowed as legal interest.

408.020. Creditors shall be allowed to receive interest at the rate of nine percent per annum, when no other rate is agreed upon, for all moneys after they become due and payable, on written contracts, and on accounts after they become due and demand of payment is made; for money recovered for the use of another, and retained without the owner's knowledge of the receipt, and for all other money due or to become due for the forbearance of payment whereof an express promise to pay interest has been made.

(RSMo 1939 3226, A.L. 1979 S.B. 305)

Prior revisions: 1929 2839; 1919 6491; 1909 7179

(2003) Insured's claim for uninsured motorist benefits is unliquidated and not subject to prejudgment interest. McKinney v. State Farm Mutual Insurance, 123 S.W.3d 242 (Mo.App.W.D.).

Annotation Copyright Missouri Joint Committee on Legislative Research

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