Mo. Rev. Stat. » Chapter 408
Missouri Revised Statutes

Mo. Rev. Stat. § 408.130 (2026)

Borrower to receive statement of contract

✓ current as of May 2026
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  408.130.  Borrower to receive statement of contract — contents — prepayment effect — receipts for payments. — 1.  At the time the loan is made, there shall be delivered to the borrower, or, if there are two or more borrowers, to one of them, a written statement or copy of the loan contract showing in clear and distinct terms:

  (1)  The name and address of the lender and of one of the borrowers;

  (2)  The date of the loan contract;

  (3)  The schedule of installments or description thereof;

  (4)  The type of any instrument securing the loan;

  (5)  The principal amount of the loan excluding interest;

  (6)  The rate or amount of interest as the contract may provide;

  (7)  That the borrower may prepay the loan, in whole or in part, at any time, and in case interest has been added to the principal of the loan;

  (8)  That the interest is subject to the refund requirements of section 408.170 if the loan is prepaid in full.

  2.  A receipt shall be given for the amount of each payment made in currency.  Any note paid in full, or a copy thereof, shall be so marked "paid" and returned, and any security interest which no longer secures a loan shall be restored, cancelled or released.

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(L. 1951 p. 875 § 408.032(b), A.L. 1965 p. 114, A.L. 1994 H.B. 963)

Notes of Decisions
Cited in 2 cases, 1975–1977 · leading case: Beneficial Fin. Co. of St. Charles v. Kitson, 530 S.W.2d 497 (Mo. Ct. App. 1975).
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Beneficial Fin. Co. of St. Charles v. Kitson, 530 S.W.2d 497 (Mo. Ct. App. 1975). · cites it 5× “§ 408.130 requires that the borrower receive a statement of the contract or a copy of the loan contract at the time the loan is made showing, “in clear and distinct terms” a number of items.”
Whitlock v. Midwest Acceptance Corp., 449 F. Supp. 631 (E.D. Mo. 1977). “§ 408.130 (Vernon). The disclosure of the cost of credit as a percentage per month on the unpaid balance is not required by that statute or anywhere else.”
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