427.130. Coupon book revision required, when, how. - Missouri Statutes

Coupon book revision required, when, how.

427.130. If any form of amortization is used by the creditor and acoupon book was sent to the debtor at the inception of the credittransaction, the creditor shall send to the debtor one of the following:

(1) A reprinted coupon book with revised calculations of the debtor'spayments that includes the amortized costs of the collateral protectioncoverage;

(2) A supplemental coupon book with calculations of the debtor'sadditional payments based upon the amortized costs of the collateralprotection coverage, for use by the debtor in addition to the originalcoupon book; or

(3) A letter with both the amortized cost of the collateralprotection insurance and a calculation of the debtor's new paymentsincluding the amortized cost of the insurance. Such letter shall state inbold letters that the new payment obligation replaces the payment amountindicated in the coupon book.

(L. 1997 H.B. 257)