Effective - 28 Aug 1997
427.130. Coupon book revision required, when, how. — If any form of amortization is used by the creditor and a coupon book was sent to the debtor at the inception of the credit transaction, the creditor shall send to the debtor one of the following:
(1) A reprinted coupon book with revised calculations of the debtor's payments that includes the amortized costs of the collateral protection coverage;
(2) A supplemental coupon book with calculations of the debtor's additional payments based upon the amortized costs of the collateral protection coverage, for use by the debtor in addition to the original coupon book; or
(3) A letter with both the amortized cost of the collateral protection insurance and a calculation of the debtor's new payments including the amortized cost of the insurance. Such letter shall state in bold letters that the new payment obligation replaces the payment amount indicated in the coupon book.
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(L. 1997 H.B. 257)
Structure Missouri Revised Statutes
Title XXVII - Debtor-Creditor Relations
Chapter 427 - Creditor Protection
Section 427.011 - Purpose of law — limitation of liability.
Section 427.021 - Definitions.
Section 427.041 - Preemption of field.
Section 427.100 - Bankruptcy of political subdivision, consent to institute action.
Section 427.110 - Collateral protection act — audit for compliance.
Section 427.115 - Definitions.
Section 427.120 - Collateral protection coverage, requirements.
Section 427.125 - Notice of placement of insurance — grace period.
Section 427.130 - Coupon book revision required, when, how.
Section 427.135 - Collateral protection coverage cancelled, when.
Section 427.140 - Unearned premiums to be refunded.
Section 427.145 - Placement of coverage.
Section 427.150 - Liability limitation, notice.
Section 427.155 - No fiduciary relationship intended.
Section 427.160 - Insurance not required.
Section 427.165 - Uniform commercial code not affected by act.
Section 427.170 - Severability — nonimpairment.
Section 427.180 - Insurer may claim protection of act.
Section 427.190 - Statute of limitations.
Section 427.200 - Lease of personal property allowed — writing required.