408.096. Loan arrangement, excess fee prohibited for certain transactions--penalty. - Missouri Statutes

Loan arrangement, excess fee prohibited for certaintransactions--penalty.

408.096. No person, firm or corporation shall receive orimpose any fee or charge, other than one expressly provided forby statute, for arranging credit in the amount of one thousanddollars or less the proceeds of which are intended to be used bythe borrower primarily for personal, family or householdpurposes. Any contract evidencing such excess fee or charge andany note evidencing credit so arranged is void. Any person, firmor corporation who receives or imposes a fee or charge prohibitedby this section is guilty of a class B misdemeanor.

(L. 1979 S.B. 305)