Effective - 28 Aug 2002
365.120. Time price differential, computed how. — 1. Notwithstanding the provisions of any other law, the time price differential included in a retail installment transaction on any motor vehicle without regard to the year model designated by the manufacturer, the retail seller may charge, contract and receive any time price differential agreed to by the retail buyer, expressed in the contract as a percent per annum that shall apply to the contract regardless of its repayment schedule.
2. The time price differential shall be computed on the principal balance as a percent per annum. A minimum time price differential of twenty-five dollars may be charged on any retail installment transaction.
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(L. 1963 p. 466 § 12, A.L. 1980 H.B. 1195, A.L. 1981 S.B. 5 Revision, A.L. 2002 H.B. 2008)
Structure Missouri Revised Statutes
Title XXIV - Business and Financial Institutions
Chapter 365 - Motor Vehicle Time Sales
Section 365.010 - Citation of law.
Section 365.020 - Definitions.
Section 365.030 - Sales finance company, license required — exceptions — application — fee.
Section 365.040 - License denied or suspended — grounds — hearing and review.
Section 365.050 - Director may examine persons, inspect records — complaints of violations.
Section 365.060 - Rules and regulations, procedure — subpoenas, enforced how.
Section 365.070 - Retail installment contracts to be in writing — form, contents.
Section 365.080 - Insurance included in retail installment transactions — restrictions.
Section 365.090 - Transfer of equity in motor vehicle — fee.
Section 365.110 - Blank spaces in contract prohibited — exceptions.
Section 365.120 - Time price differential, computed how.
Section 365.125 - Rates, parties may agree to a rate, restrictions.
Section 365.145 - Default — discrimination, law applicable to retail installment transactions.