Recovery of interest barred, when, exceptions — actions taken or omitted in..
Known as the Missouri Retail Credit Sales Law
The act spans §§ 408–408 (112 sections).
Applied in 1 court decision — leading case Michael D. v. GMAC Mortgage, LLC (2011)
Most recently applied in Michael D. v. GMAC Mortgage, LLC (January 2011)
Effective: 28 Aug 1994; (L. 1979 S.B. 305, A.L. 1988 H.B. 1355, A.L. 1994 H.B. 1312 merged with S.B. 718)
Any person violating the provisions of sections 408.231 to 408.241 shall be barred from recovery of any interest on the contract, except where such violations occurred either:
(1) As a result of an accidental and bona fide error of computation; or
(2) As a result of any acts done or omitted in reliance on a written interpretation of the provisions of sections 408.231 to 408.241 by the division of finance.
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.