Mo. Rev. Stat. » Chapter 408

Mo. Rev. Stat. § 408.552

Enforceability of default provisions

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  408.552.  Enforceability of default provisions. — An agreement of the parties to a credit transaction concerning default by the borrower is enforceable only to the extent that:

  (1)  The borrower fails to make a payment as required by agreement; or

  (2)  The lender's prospect of payment, performance, or ability to realize upon the collateral is significantly impaired; the burden of establishing significant impairment is on the lender.

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(L. 1979 S.B. 305)

Notes of Decisions
Cited in 3 cases, 1984–2013 · leading case: Stenger v. Great Southern Savings & Loan Ass'n
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Stenger v. Great Southern Savings & Loan Ass'n (1984) moctapp · cites it 5× “259 is unconstitutional, but that, in any event, § 408.552 more accurately expresses our public policy.”
In Re Schmidt (2008) mowb · cites it 2× “Mo.Rev.Stat. § 408.552 provides in relevant part that an agreement to a credit transaction concerning default is enforceable only to the extent that there is either a payment default or the "lender's prospect of payment, performance, or ability to realize upon the collateral is…”
In re Henderson (2013) nvb “255B, § 20B(a) (2012); Mo.Rev.Stat. § 408.552 (2012); Neb.Rev.Stat.”
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