Sections 408.231 to 408.241 shall not apply to any transaction in which a single extension of credit is allocated between a first lien and any number of subordinate liens, for the purpose or with the result of contracting for or receiving a higher rate of interest than would have been permitted if the loan had been made under section 408.030.
Mo. Rev. Stat. § 408.237
Applicability of sections 408.231 to 408.241
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. 1994 H.B. 1312 merged with S.B. 718)
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.