Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 1140 - Division of Finance
Chapter 20 - Association Loans
Section 20 CSR 1140-20.046 - Consumer Loans
Universal Citation: 20 MO Code of State Regs 1140-20.046
Current through Register Vol. 49, No. 6, March 15, 2024
PURPOSE: This rule authorizes associations to make secured or unsecured loans for personal, family, home improvement or household purposes and loans reasonably incident to them.
(1) An association may originate, invest in, sell, purchase, participate or otherwise deal in secured or unsecured consumer loans as follows:
(A) Direct or indirect
consumer loans that may be either open-end or closed-end credit; and
(B) Loans to dealers in consumer goods for
inventory financing, floor planning and leasing.
(2) The total investment under this rule shall not exceed thirty percent (30%) of the association's assets.
*Original authority: 369.144, RSMo 1971, amended 1982, 1983, 1984, 1989, 1994; 369.229, RSMo 1971, amended 1983, 1994; and 369.249 and 369.299, RSMo 1971, amended 1994.
Disclaimer: These regulations may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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