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Title XXVI TRADE AND COMMERCE

Chapter 408

previous next Effective - 28 Aug 1979bottom

  408.558.  Security interests not to be taken, when. — 1.  No security interest, other than a purchase money security interest, may be taken or acquired in household furnishings, appliances, or clothing of the borrower or his dependents as security for a loan if the amount financed is less than five hundred dollars.

  2.  No security interest may be taken or acquired in goods as security for a credit transaction in the principal amount of less than one hundred fifty dollars.

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(L. 1979 S.B. 305)


---- end of effective   28 Aug 1979 ----

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