348.215. Policy of collection and recovery. - Missouri Statutes

Policy of collection and recovery.

348.215. The authority, by rules and regulations, shalldetermine the policy of collections and recovery of loans,including the use of private collection agencies. The authoritymay institute action to recover any amount due the state in anyloan transaction, use private collection agencies, or otherwisecarry out the policy of the authority. The lender making theoriginal loan shall cooperate with the authority in thecollection of the loan and shall use its regular collectionprocedures prior to any action being undertaken by the authority.

(L. 1994 H.B. 1248 & 1048)