408.150. Lender can not receive excess interest--failure by lender to return excess interest, damages allowed. - Missouri Statutes

Lender can not receive excess interest--failure by lender to returnexcess interest, damages allowed.

408.150. If any amount in excess of the interest permittedby sections 408.100 to 408.190 is charged or received on any loanexcept as the result of a bona fide error, the lender shall bebarred from recovery of any interest on the contract and shallupon demand return all interest received to the person from* whomreceived. If such interest is not returned upon written demand,then the person paying the same or his legal representative mayrecover twice the amount paid together with costs of the suit andreasonable attorney's fees, provided that the action is broughtwithin five years of such written demand.

(L. 1951 p. 875 § 408.032(d), A.L. 1982 H.B. 1341, et al.)

*Word "from" does not appear in original rolls.