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Current as of January 01, 2025 | Updated by Findlaw Staff
1. A title lender shall not:
(1) Accept a pledge from a person under eighteen years of age or from anyone who appears to be intoxicated;
(2) Make a loan which exceeds five thousand dollars;
(3) Accept any waiver of any right or protection of a borrower;
(4) Fail to exercise reasonable care to protect from loss or damage certificates of title or titled personal property in the physical possession of the title lender;
(5) Purchase titled personal property in the operation of its business;
(6) Enter into a title loan agreement unless the borrower presents clear title at the time that the loan is made;
(7) Knowingly violate any provision of sections 367.500 to 367.533 or any rule promulgated thereunder;
(8) Violate any provision of sections 408.551 to 408.557 and sections 408.560 to 408.562; or
(9) Store repossessed titled personal property at a location more than fifteen miles from the office where the title loan agreement was executed.
2. If a title lender enters into a transaction contrary to this section, the loan and the lien shall be void.
Cite this article: FindLaw.com - Missouri Revised Statutes Title XXIV. Business and Financial Institutions § 367.527. Limitations of title lenders - last updated January 01, 2025 | https://codes.findlaw.com/mo/title-xxiv-business-and-financial-institutions/mo-rev-st-367-527/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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