Section 364.020

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 364

Effective - 28 Aug 1963, 2 histories   

  364.020.  Definitions. — Unless otherwise clearly indicated by the context, when used in this chapter, the following terms mean:

  (1)  "Director", the office of the director of the division of finance.

  (2)  "Financing institution", a person engaged in the business of purchasing or otherwise acquiring retail time contracts or accounts under retail charge agreements from one or more sellers.  The term includes but is not limited to a bank, trust company, loan and investment company, savings and loan association, licensed sales finance company as the same is defined in the Missouri motor vehicle time sales law (chapter 365) or registrant under sections 367.100 to 367.200, if so engaged; but does not include a distributor insofar as he takes assignments of retail installment purchase contracts covering goods which were distributed by him to the retailer thereof.

  (3)  "Person", an individual, partnership, corporation, association, and any other group however organized.  Words used herein shall have the same meaning as is ascribed to such words in the Missouri retail credit sales law (sections 408.250 to 408.370).

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(L. 1963 p. 463 § 2)