348.533. Policy for collection and recovery of loans — action authorized to recover amounts due.
104 words·~1 min read·
/mo/chapter-348/348-533A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
348.533. Policy for collection and recovery of loans — action authorized to recover amounts due. — The authority, by rule, shall determine the policy of collections and recovery of loans, including the use of private collection agencies. The authority may institute action to recover any amount due the state in any loan transaction, use private collection agencies, or otherwise carry out the policy of the authority. The lender making the original loan shall cooperate with the authority in the collection of the loan and shall use its regular collection procedures prior to any action being undertaken by the authority.
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(L. 2008 S.B. 931)