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.
Mo. Rev. Stat. § 408.020
When no rate of interest is agreed upon, nine percent allowed as legal..
Known as the Missouri Retail Credit Sales Law
The act spans §§ 408–408 (112 sections).
Applied in 54 court decisions — leading case Missouri v. Jenkins Ex Rel. Agyei (1989)
Most recently applied in Michael Vogt v. State Farm Life Insurance Comp (December 2021)
Effective: 28 Aug 1979; (RSMo 1939 § 3226, A.L. 1979 S.B. 305); Prior revisions: 1929 § 2839; 1919 § 6491; 1909 § 7179
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.