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Missouri Revised Statutes

Mo. Rev. Stat. § 408.200 (2026)

Borrower not to be indebted on two or more contracts with same lender, when

✓ current as of May 2026
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  408.200.  Borrower not to be indebted on two or more contracts with same lender, when. — No lender shall permit any borrower to be indebted to such lender on two or more contracts at any time for the purpose or with the result of contracting for or receiving more interest on the multiple notes or contracts than would have been permissible on a single note or contract entered into in accordance with section 408.100.

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(L. 1951 p. 875 § 408.033, A.L. 1959 H.B. 320, A.L. 1974 2d Ex. Sess. S.B. 1, A.L. 1977 S.B. 317, A.L. 1979 S.B. 305, A.L. 1985 H.B. 358 & 440, A.L. 1998 S.B. 792)

Notes of Decisions
Cited in 4 cases, 1975–1988 · leading case: Com. Bank of Kansas City, N.A. v. Missouri Div. of Fin., 762 S.W.2d 431 (Mo. Ct. App. 1988).
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Com. Bank of Kansas City, N.A. v. Missouri Div. of Fin., 762 S.W.2d 431 (Mo. Ct. App. 1988). · cites it 9× “Interpretation of § 408.200 is at issue. Subsection 1 of § 408.”
Redd v. Household Fin. Corp., 622 S.W.2d 255 (Mo. Ct. App. 1981). · cites it 4× “Specifically, the interest on each loan was computed in accordance with § 408.200. Plaintiffs urge us to interpret the Small Loan Act in a manner which would prohibit its application to loans in excess of $500.”
Beneficial Fin. Co. of St. Charles v. Kitson, 530 S.W.2d 497 (Mo. Ct. App. 1975). “§ 408.200 provides that no lender shall, however, permit any borrower to be indebted to it on two or more contracts at any time for the purpose of or with the result of contracting for or receiving the interest permitted by § 408.”
Nationwide Fin. Corp. v. Redd, 622 S.W.2d 259 (Mo. Ct. App. 1981). · cites it 2× “Defendants contend there is usury as the annual percentage rate exceeds the maximum interest allowed by § 408.030 RSMo. 1978. We find defendants’ contention mer-itless for the reasons set forth in Part II of the companion case.”
— Mo. Rev. Stat. § 408.200(1) — 1 case
Redd v. Household Fin. Corp., 622 S.W.2d 255 (Mo. Ct. App. 1981). “Specifically, the interest on each loan was computed in accordance with § 408.200. Plaintiffs urge us to interpret the Small Loan Act in a manner which would prohibit its application to loans in excess of $500.”
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