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MO HB237

Bill

Official Source

Status

Introduced

1/22/2013

Primary Sponsor

Brandon Ellington

Click for details

Origin

House of Representatives

2013 Regular Session

AI Summary

  • Repeals and reenacts section 367.521 of Missouri Revised Statutes relating to title loans and collateral redemption
  • Borrowers retain the right to redeem security by timely satisfaction of title loan agreement terms
  • Title lenders are held liable for actions of persons employed or contracted to repossess titled personal property
  • Repossession agents are prohibited from threatening or intimidating borrowers during the repossession process
  • Borrowers may file complaints with the attorney general if threatened or intimidated, and upon finding misconduct, the title lender must release its lien and return the title to the borrower

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)

5/17/2013

Committee Referrals

Financial Institutions5/17/2013

Full Bill Text

No bill text available