Missouri Revised Statutes Title XXVI. Trade and Commerce § 407.2030. Definitions

(1)“Administrator”, any person, other than an insurer or creditor, who performs administrative or operational functions for debt waiver programs;

(2)“Borrower”, a debtor or retail buyer or lessee under a finance agreement;

(3)“Creditor”:

(4)“Debt waiver”, any guaranteed asset protection waiver or excess wear and use waiver;

(5)“Excess wear and use waiver”, a contractual agreement in which a creditor agrees, with or without a separate charge, to cancel or waive all or part of amounts that may become due under a borrower's lease agreement as a result of excessive wear and use of a motor vehicle, which agreement shall be part of, or a separate addendum to, the lease agreement. Excess wear and use waivers may also cancel or waive amounts due for excess mileage;

(6)“Guaranteed asset protection waiver”, a contractual agreement in which a creditor agrees, with or without a separate charge, to cancel or waive all or part of amounts due on a borrower's finance agreement in the event of a total physical damage loss or unrecovered theft of the motor vehicle, which agreement shall be part of, or a separate addendum to, the finance agreement. A guaranteed asset protection waiver may also provide, with or without a separate charge, a benefit that waives an amount, or provides a borrower with a credit, toward the purchase of a replacement motor vehicle.