There is a newer version
of
this Section
2021 Missouri Revised Statutes
Title XXVI - Trade and Commerce
Chapter 408 - Legal Tender and Interest
Section 408.083 - Credit contracts, prepayment before maturity, computation of interest.
Universal Citation: MO Rev Stat § 408.083 (2021)
Effective - 01 Jul 2003
408.083. Credit contracts, prepayment before maturity, computation of interest. — Notwithstanding any other provision of law to the contrary, all credit contracts with interest or time price differential calculated on an add-on basis entered into after August 28, 2002, the proceeds of which are used for personal, family or household purposes, shall provide that the amount of interest or time price differential earned upon prepayment in full will be computed on the basis of the rate or rate formula originally contracted for on the actual unpaid principal balances for the time actually outstanding.
--------
(L. 1988 S.B. 426 § 1, A.L. 2002 S.B. 895)
Effective 7-01-03
Disclaimer: These codes may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
