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The authority, by rule, shall determine the policy of collections and recovery of loans, including the use of private collection agencies. The authority may institute action to recover any amount due the state in any loan transaction, use private collection agencies, or otherwise carry out the policy of the authority. The lender making the original loan shall cooperate with the authority in the collection of the loan and shall use its regular collection procedures prior to any action being undertaken by the authority.
Cite this article: FindLaw.com - Missouri Revised Statutes Title XXIII. Corporations, Associations and Partnerships § 348.533. Policy for collection and recovery of loans--action authorized to recover amounts due - last updated January 01, 2018 | https://codes.findlaw.com/mo/title-xxiii-corporations-associations-and-partnerships/mo-rev-st-348-533.html
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