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Missouri Revised Statutes Title XXVI. Trade and Commerce § 408.092. Attorneys fees, enforcement of credit agreements, limitations

Current as of January 01, 2023 | Updated by FindLaw Staff

1. Notwithstanding any other provision of law to the contrary, attorneys' fees are permitted to enforce a credit agreement provided the enforcing attorney is a licensed member of the Missouri bar or is authorized to practice law in Missouri, and such fees meet one of the following requirements:

(1) Such fees are included in the written credit agreement, and are not otherwise prohibited by law; or

(2) Such fees do not exceed fifteen percent of the outstanding credit balance in default, provided such credit was extended by a for-profit business or credit union.

2. At the court's discretion, additional fees may be awarded to the attorney for the prevailing party.

3. For the purposes of this section, a “credit agreement” shall have the same meaning as provided in subsection 1 of section 432.045.

4. No provision of this section shall be construed to authorize or limit attorney's fees permitted parties and transactions not covered by this section.

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Cite this article: FindLaw.com - Missouri Revised Statutes Title XXVI. Trade and Commerce § 408.092. Attorneys fees, enforcement of credit agreements, limitations - last updated January 01, 2023 | https://codes.findlaw.com/mo/title-xxvi-trade-and-commerce/mo-rev-st-408-092/

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