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MO HB2091
Bill
Status
3/29/2012
Primary Sponsor
Leonard Hughes
Click for details
AI Summary
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Repeals and reenacts section 367.521, RSMo, relating to title loan agreements and collateral redemption.
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Allows borrowers to redeem security by satisfying the terms of a title loan agreement.
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Makes title lenders liable for actions of their employees or contractors who repossess titled personal property upon expiration or default of a loan.
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Prohibits repossession agents from threatening or intimidating borrowers during the repossession process.
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Allows borrowers to file complaints with the attorney general if threatened or intimidated, and requires title lenders to release their lien and return the title if such conduct is found.
Legislative Description
Specifies that a title lender is liable for the actions of the persons employed or contracted by him or her to take possession of titled personal property upon the expiration or default of a title loan
Last Action
Referred: Financial Institutions (H)
4/26/2012