408.015. Definitions.

MISSOURI STATUTES AND CODES

Definitions.

408.015. As used in sections 408.020 to 408.562:

(1) "Bank" shall mean bank, trust company, or bank and trustcompany;

(2) "Business loan" shall mean a loan to an individual or agroup of individuals, the proceeds of which are to be used in abusiness or for the purpose of acquiring an interest in abusiness. The term shall also include a loan to a trust, estate,cooperative, association, or limited or general partnership;

(3) "Corporation" shall mean any corporation, whether forprofit or not for profit, and including any urban redevelopmentcorporation;

(4) "Lender" shall include any bank, savings and loanassociation, credit union, corporation, partnership, or any otherperson or entity who makes loans or extends credit;

(5) "Monthly Index of Long Term United States GovernmentBond Yields" shall mean the monthly unweighted average yield forall outstanding United States Treasury bonds neither due norcallable in less than ten years, based on the daily closing bidprices in the over the counter market, as determined by the Boardof Governors of the Federal Reserve System, published in theFederal Reserve Bulletin, and expressed in terms of percent perannum;

(6) "Residential real estate" shall mean any real estateused or intended to be used as a residence by not more than fourfamilies, one of whom is the borrower;

(7) "Residential real estate loan" shall mean a loan madefor the acquisition, construction, repair, or improvement of, orsecured by, residential real estate. The term shall also includeany loan made to refinance such a loan. No loan secured byresidential real estate shall be considered to be a business loanunless such loan meets the requirements of subdivision (2) ofthis section and subdivision (2) of section 408.035.