Effective - 01 Mar 2011, 2 histories
365.200. Additional time sale contracts. — 1. For any motor vehicle which is not subject to the Missouri motor vehicle time sales law as provided in sections 365.010 to 365.160, a seller is permitted to include in the contractual time sale of a motor vehicle the outstanding balance of a prior loan or lease of a motor vehicle used as a trade-in. For the purposes of this section, a "time sale contract" is a contract evidencing an installment transaction entered into in this state pursuant to which the title to or a lien upon the motor vehicle which is the subject of the installment transaction is retained or taken by the seller from the buyer as security for the buyer's obligation. The term includes a security agreement or a contract for the bailment or leasing of the motor vehicle by which the bailee or lessee contracts to pay as compensation for its use a sum substantially equivalent to or in excess of its value and by which it is agreed that the bailee or lessee is bound to become, or has the option of becoming, the owner of a motor vehicle upon satisfying the contract. "Motor vehicle" is any new or used automobile, mobile home, manufactured home as defined in section 700.010, excluding a manufactured home with respect to which the requirements of subsections 1 to 3 of section 700.111, as applicable, have been satisfied, motorcycle, truck, trailer, semitrailer, truck tractor or bus.
2. Any seller as provided in this section shall first qualify as a retail seller pursuant to sections 365.010 to 365.160.
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(L. 1999 S.B. 386, A.L. 2010 S.B. 630)
Effective 3-01-11
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.