Can you summarize MORS 408.350?
Any waiver of the provisions of sections 408.250 to 408.370 shall be unenforceable and void. ——– (L. 1961 p. 638 12)
Can you summarize MORS 408.360?
Sections 408.250 to 408.370 may be cited as the ‘Missouri Retail Credit Sales Law’. ——– (L. 1961 p. 638 1)
Can you summarize MORS 408.365?
This legal document governs retail time contracts and retail charge agreements. It prohibits certain provisions in these contracts and agreements. Firstly, it states that no provision shall allow the seller or holder to arbitrarily accelerate the maturity of the amount owing under the contract, unless the buyer defaults in the performance of their obligations. Secondly, it prohibits the inclusion of provisions that grant a power of attorney to confess judgment or assign wages.
Can you summarize MORS 408.370?
This legal document pertains to TRADE AND COMMERCE, specifically Legal Tender and Interest. It applies to any person who knowingly violates any provision of section 408.250 and sections 408.260 to 408.370. The violation is deemed a misdemeanor and upon conviction, the person may be fined up to five hundred dollars or imprisoned for up to six months, or both. Additionally, for violations of sections 408.260 to 408.330, except for accidental and bona fide errors of computation, the person will be barred from recovering any time charge, delinquency, or collection charge on the contract.
Can you summarize MORS 408.375?
As used in sections 408.250 to 408.370, a retail installment agreement shall be deemed to be signed or accepted by the buyer, if after a request for a retail installment account, the agreement or application for a retail installment account is in fact signed by the buyer, or if the retail installment account is used by the buyer, or if the retail installment account is used by another person authorized by the buyer to use it.
Can you summarize MORS 408.380?
This legal document pertains to the sale of certain financial products and plans, such as deficiency waiver addendum and guaranteed asset protection, in loan transactions. It states that the sale of these products is not prohibited by sections 408.140, 408.233, 408.300, or any other law, as long as the cost of the product is reasonable and disclosed in the loan contract. The borrower’s consent to purchase such products must be in writing and acknowledge receipt of the required disclosures.
Can you summarize MORS 409.5-504?
(a)Except as otherwise provided in subsection (b), a rule adopted or order issued under this act may require the filing of a prospectus, pamphlet, circular, form letter, advertisement, sales literature, or other advertising record relating to a security or investment advice, addressed or intended for distribution to prospective investors, including clients or prospective clients of a person registered or required to be registered as an investment adviser under this act. (b)This section does not apply to sales and advertising literature specified in subsection (a) which relates to a federal covered security, a federal covered investment adviser, or a security or transaction exempted by section 409.
Can you summarize MORS 409.546?
1.No person shall make any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading, or engage in any fraudulent, deceptive, or manipulative acts or practices, in connection with any takeover bid or any solicitation of offerees in opposition to or in favor of any such takeover bid.
Can you summarize MORS 429.014?
This legal document pertains to lien fraud and penalties in the context of debtor-creditor relations and statutory liens against real estate in Missouri. It states that any original contractor, subcontractor, or supplier who fails or refuses to pay subcontractors, materialmen, suppliers, or laborers for services or materials provided with the intent to defraud commits the offense of lien fraud, regardless of whether the lien was perfected or filed within the allowed time.
Can you summarize MORS 513.660?
Any gambling device or gambling record, or any money used as bets or stakes in unlawful gambling activity, possessed or used in violation of this chapter may be seized by any law enforcement officer and is forfeited to the state.Forfeiture procedures shall be conducted as provided by rule of court.Forfeited money and the proceeds from the sale of forfeited property shall be paid into the school fund of the county.Any forfeited gambling device or record not needed in connection with any proceedings under this chapter and which has no legitimate use shall be ordered publicly destroyed.