408.095. Charging interest of more than two percent per month a misdemeanor, exceptions. - Missouri Statutes

Charging interest of more than two percent per month a misdemeanor,exceptions.

408.095. Every person or persons, company, corporation orfirm, and every agent of any person, persons, company,corporation** or firm, who shall take or receive, or agree to takeor receive, directly or indirectly, by means of commissions ofbrokerage charges, or otherwise, for the forbearance or use ofmoney or other commodities, any interest at a rate greater thantwo percent per month, except as permitted by the laws of thisstate, shall be deemed guilty of a misdemeanor. Nothing hereincontained shall be construed as authorizing a higher rate ofinterest than is now provided by law.

(RSMo 1939 § 4813, A.L. 1974 2d Ex. Sess. S.B. 1)

Prior revisions: 1929 § 4421; 1919 § 3680; 1909 § 4892

Effective 1-9-75

*Transferred 1978; formerly 563.800

**Word "corporations" appears in original rolls.