This part of the law sets up definitions for words used in rules about credit services businesses. A 'buyer' is a person who buys or is asked to buy services from a credit services company. A 'consumer reporting agency' is a business that collects and shares credit information about people, as defined by federal law. An 'extension of credit' is when someone is allowed to borrow money or delay paying a debt, mainly for personal or home-related reasons.
407.635. Definitions. — As used in sections 407.635 to 407.644, the following words and phrases shall mean:
(1) "Buyer", an individual who is to purchase or who purchases the services of a ;
(2) "" has the meaning by section 603(f) of the , 15 U.S.C. Section 1681a(f);
(3) "", the right to payment of debt or to incur debt and defer its payment offered or granted primarily for personal family or household purposes.
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Source & history notes
(L. 1991 S.B. 112 § 1)
Related Missouri laws
Credit service organization
RSMo 407.637
Prohibited activities
RSMo 407.638
Copy of bond to be filed with director of finance
RSMo 407.639
Violation of regulations
RSMo 407.630
Registration statements, filing, contents, fee
RSMo 407.640
Contract, writing, contents
RSMo 407.641
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