2011 Missouri Revised Statutes
TITLE XXVI TRADE AND COMMERCE
Chapter 408 Legal Tender and Interest
Section 408.050. Excess interest paid recoverable with costs and attorney fee.
Excess interest paid recoverable with costs and attorney fee.
408.050. No person shall directly or indirectly take, for the use or loan of money or other commodity, above the rates of interest specified in sections 408.020 to 408.040, for the forbearance or use of one hundred dollars, or the value thereof, for one year, and so after those rates for a greater or less sum, or for a longer or shorter time, or according to those rates or proportions, for the loan of any money or other commodity. Any person who shall violate the foregoing prohibition of this section shall be subject to be sued, for any and all sums of money paid in excess of the principal and legal rate of interest of any loan, by the borrower, or in case of borrower's death, by the administrator or executor of his estate, and shall be adjudged to pay the costs of suit, including a reasonable attorney's fee to be determined by the court.
(RSMo 1939 3229)Prior revisions: 1929 2842; 1919 6494; 1909 7182
Annotation Copyright Missouri Joint Committee on Legislative Research
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