MO SB125

Expands scope of title loan regulations to include disguised title loans and persons evading provisions through subterfuge, as determined by the division of finance.

Requires title loan agreements to include borrower redemption rights within 30 to 45 days and mandates 10 percent principal reduction upon the third renewal and all subsequent renewals.

Allows title lenders to take possession and sell titled personal property following borrower default, in accordance with Chapter 400 secured transactions provisions.

Prohibits unlicensed persons from using terms "title loans," "title lending," or similar language in business names or advertising; violations constitute unlawful merchandising practices under Chapter 407.

Establishes that borrowers obtaining title loans under false pretenses by hiding or failing to disclose prior liens or security interests are personally liable to the title lender for the full loan amount.