369.264. Lending association not liable to borrower or others for defective final product, when. - Missouri Statutes

Lending association not liable to borrower or others for defectivefinal product, when.

369.264. An association which makes a loan, the proceeds ofwhich are used or may be used by the borrower to finance thedesign, manufacture, construction, repair, modification orimprovement of real or personal property for sale or lease toothers, shall not be held liable to the borrower or to thirdpersons for any loss or damage occasioned by any defect in thereal or personal property so designed, manufactured, constructed,repaired, modified or improved, or for any loss or damageresulting from the failure of the borrower to use due care in thedesign, manufacture, construction, repair, modification orimprovement of such real or personal property, unless theassociation has knowingly been a party to misrepresentations withrespect to such real or personal property.

(L. 1971 S.B. 3 § 52)