Title XXIV — BUSINESS AND FINANCIAL INSTITUTIONS

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…

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…

367.031. Receipt for pledged property — contents — definitions — third-party charge for database — access to database information, limitations — error in data, procedure — loss of pawn ticket, effect. — 1. At the time of making any secured personal credit loan, the lender shall e…

367.040. Loans due, when — return of collateral, when — restrictions. — 1. Every secured personal credit loan shall be due and payable in lump sum thirty days after the date of the loan contract, or, if extended, thirty days after the date of the last preceding extension of the l…

367.043. License required — qualifications — oath — bond — accounting — location within one-half mile of excursion gambling boat or facility, prohibited, when. — 1. No person shall operate a pawnshop unless such person obtains a municipal pawnshop license issued pursuant to this …

367.044. Definitions — pledged goods for money, pawnbroker entitled only to goods pledged, exception, misappropriated goods — procedure to recover. — 1. As used in sections 367.044 to 367.055, the following terms mean: (1) "Claimant", a person who claims that property in the poss…

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 wit…

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 comp…

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 su…

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 h…

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 …

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 provisi…

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 shal…

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 comp…

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 rem…

367.055. Inspection of property, search warrant required — hold order, probable cause, contents, expiration — confidentiality. — 1. Upon request of a law enforcement officer to inspect property that is described in information furnished by the pawnbroker pursuant to subdivisions …

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. ­­-------- (L. 1951 p. 281 § 7)

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 propert…

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 …

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, dur…

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 …

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…

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 loan…

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 a…

367.180. Lender to keep records. — Every lender shall keep books and records of the supervised business. ­­-------- (L. 1951 p. 262 § 9)

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 pr…

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 o…

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 a…

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…

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. ­­-------- (L. 1972 S.B. 405 § 2)

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 sectio…

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 …

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, …

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. ­­-------- (L. 1992 S.B. 705)

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 …

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 perso…

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 inform…

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 sect…

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 th…

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 agre…

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. ­­-------- (L. 1998 H.B. 1526 § 6, A.L. 2001 H.B. 738 merged with S.B. 186)

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…

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 agreemen…

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 a…

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 borr…

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 …

367.530. Safekeeping of certificates of title — liability insurance maintained, when — liability of title lender. — 1. Every title lender shall maintain a fireproof place for the pledged certificates of title and a safe place for pledged property delivered to or repossessed by th…

367.531. Applicability to certain transactions. — The provisions of sections 408.552 to 408.557 and sections 408.560 to 408.562 are applicable to all transactions pursuant to sections 367.500 to 367.533. ­­-------- (L. 2001 H.B. 738 merged with S.B. 186)

367.532. Violations, penalties. — 1. Any title lender which fails, refuses or neglects to comply with sections 367.500 to 367.533, sections 408.551 to 408.557, sections 408.560 to 408.562, or any laws relating to title loans or commits any criminal act may have its license suspen…

367.533. Pawn or pawnbroker title prohibited. — No business licensed pursuant to sections 367.500 to 367.530 shall use the terms "pawn" or "pawnbroker" in its title, business name or advertising. ­­-------- (L. 1998 H.B. 1526 § 12)