☰ Revisor of Missouri


Chapter 408

< > Effective - 01 Jul 2003, see footnote    bottom

  408.320.  Buyer may pay retail time contract debt before maturity — refund of charges. — Notwithstanding the provisions of any retail time contract to the contrary, any buyer may prepay in full at any time before maturity the debt of any retail time contract and on so paying such debt shall receive a refund credit thereof for such anticipation of payments.  The amount of such refund shall be calculated by the actuarial method.  The lender shall retain no more interest than is actually earned whenever a retail time contract is prepaid.


(L. 1961 p. 638 § 9, A.L. 1986 H.B. 1207, A.L. 2002 S.B. 895)

Effective 7-01-03

---- end of effective  01 Jul 2003 ----

use this link to bookmark section  408.320

Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law
In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions End Report

Site changes Pictures Contact

Other Links
Legislative Research Oversight MOLIS
Library MO WebMasters
Missouri Senate
State of Missouri
Missouri House