Missouri § 348.521 - Authority to issue certificates of guaranty — eligible lender defined — fee authorized — limit on outstanding guaranteed loans.
Full text of Missouri Revised Statutes of Missouri § 348.521 — Authority to issue certificates of guaranty — eligible lender defined — fee authorized — limit on outstanding guaranteed loans., with citation guidance and answers to common questions.
§ 348.521. Authority to issue certificates of guaranty — eligible lender defined — fee authorized — limit on outstanding guaranteed loans.
1. The authority may issue certificates of guaranty covering a first loss guarantee up to but not more than fifty percent of the loan on a declining principal basis for loans to individuals executing a note or other evidence of a loan made for livestock feed and crop input, but not to exceed the amount of one hundred thousand dollars for any one individual and to pay from the livestock feed and crop input loan guarantee fund to an eligible lender up to fifty percent of the amount on a declining principal basis of any loss on any guaranteed loan made under the provisions of sections 348.515 to 348.533, in the event of default on the loan. Upon payment of the loan, the authority shall be subrogated to all the rights of the eligible lender.
2. As used in sections 348.515 to 348.533, the term "eligible lender" means those entities defined as lenders under subdivision (8) of section 348.015.
3. The authority shall charge for each guaranteed loan a one-time participation fee of fifty dollars which shall be collected by the lender at the time of closing and paid to the authority. In addition, the authority may charge a special loan guarantee fee of up to one percent per annum of the outstanding principal which shall be collected from the borrower by the lender and paid to the authority. Amounts so collected shall be deposited in the livestock feed and crop input loan program fund and used, upon appropriation, to pay the costs of administering the program.
4. All moneys paid to satisfy a defaulted guaranteed loan shall only be paid out of the livestock feed and crop input loan guarantee fund established by sections 348.515 to 348.533.
5. The total outstanding guaranteed loans shall at no time exceed an amount which, according to sound actuarial judgment, would allow immediate redemption of twenty percent of the outstanding loans guaranteed by the fund at any one time.
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(L. 2008 S.B. 931, A.L. 2013 H.B. 542)
---- end of effective 28 Aug 2013 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 348.521
What does Revised Statutes of Missouri § 348.521 cover?
Section 348.521 ("Authority to issue certificates of guaranty — eligible lender defined — fee authorized — limit on outstanding guaranteed loans.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 348.521?
A common citation format is "Revised Statutes of Missouri § 348.521" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 348.521 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.