408.570. Definitions.

MISSOURI STATUTES AND CODES

Definitions.

408.570. Unless otherwise clearly indicated by the context, thefollowing words and terms as used in sections 408.570 to 408.600 shallmean:

(1) "Department", the Missouri department of insurance, financialinstitutions and professional registration;

(2) "Director", the director of the department of insurance,financial institutions and professional registration;

(3) "Division director", the appropriate director of the division offinance or the division of credit unions of the department of insurance,financial institutions and professional registration;

(4) "Financial institution", a bank, savings and loan association,credit union, consumer credit lender, mortgage banker, or any otherassociation or institution which:

(a) Operates a place of business in Missouri; and

(b) As part of its business, makes residential real estate loans;

(5) "Residential real estate", any real estate used or intended to beused as a residence by not more than four families;

(6) "Residential real estate loan", a loan made for the acquisition,construction, repair, rehabilitation or remodeling of residential realestate or any loan secured by residential real estate. The term shallinclude any loan made to refinance or prepay in full or in part any suchloan;

(7) "State financial institution", any financial institution otherthan a national banking association, a federal savings and loanassociation, and a federal credit union;

(8) "Type" of residential real estate loan, conventional loans,construction loans, loans insured by the Federal Housing Administration,loans guaranteed by the Veterans Administration, home improvement loans.