Effective - 28 Aug 1999
427.200. Lease of personal property allowed — writing required. — Any person may hold personal property for lease, except as otherwise provided by law. A lease shall be in writing and may be either the functional equivalent of a loan or a true lease where the lessee pays compensation for the use of the leased property which is returned to the lessor at the end of the lease. A motor vehicle lease may include the outstanding balance of a prior loan or lease of a motor vehicle used as a trade-in, as well as other items that are capitalized or amortized during the lease term. Lease payments shall be considered in the nature of rent rather than interest, and the provisions of chapter 408 relating to interest, shall not apply.
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(L. 1999 S.B. 386)
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.