Missouri § 408.320 Buyer may pay retail time contract debt before maturity — refund of charges.

Missouri Statutes

§ 408.320 — Buyer may pay retail time contract debt before maturity — refund of charges.

Missouri § 408.320

Title XXVITRADE AND COMMERCE

Ch. 408Legal Tender and Interest

This text of Missouri § 408.320 (Buyer may pay retail time contract debt before maturity — refund of charges.) is published on Counsel Stack Legal Research, covering Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mo. Rev. Stat. § 408.320 (2026).

Text

Notwithstanding the provisions of any retail time contract to the contrary, any buyer may prepay in full at any time before maturity the debt of any retail time contract and on so paying such debt shall receive a refund credit thereof for such anticipation of payments.  The amount of such refund shall be calculated by the actuarial method.  The lender shall retain no more interest than is actually earned whenever a retail time contract is prepaid.

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Notwithstanding the provisions of any retail time contract to the contrary, any buyer may prepay in full at any time before maturity the debt of any retail time contract and on so paying such debt shall receive a refund credit thereof for such anticipation of payments. The amount of such refund shall be calculated by the actuarial method. The lender shall retain no more interest than is actually earned whenever a retail time contract is prepaid.