Sections 427.110 to 427.190 do not impose a fiduciary relationship between the creditor and the debtor. Placement of collateral protection coverage is for the sole purpose of protecting the interest of the creditor when the debtor fails to insure collateral as required by the credit agreement.
Mo. Rev. Stat. § 427.155
No fiduciary relationship intended
Known as the Collateral Protection Act
The act spans §§ 427–427 (24 sections).
Effective: 28 Aug 1997; (L. 1997 H.B. 257)
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.