Missouri § 370.300 - Loans, interest rate — charges — refunds to members.
Full text of Missouri Revised Statutes of Missouri § 370.300 — Loans, interest rate — charges — refunds to members., with citation guidance and answers to common questions.
§ 370.300. Loans, interest rate — charges — refunds to members.
1. A credit union may lend to its members at reasonable rates of interest, which shall not exceed the maximum rate in similar classes allowed all other lenders under the laws of this state; however, a minimum interest charge not exceeding one dollar per month shall be allowable in all cases.
2. A credit union may charge a borrower expenses of making a loan including title examinations on real estate as defined in section 442.010, used as security for a loan, credit investigations, credit life insurance, and filing and recording fees by governmental agencies.
3. The board may at the close of a dividend period allocate a portion of receipts from interest on loans for the purpose of making an interest refund to members. The refund when made shall be made in proportion to the interest paid by members during the dividend period. The board may deny a refund to a member whose loans have been delinquent during the period. The board may limit the refund to interest from specific classes of loans and make the interest refund to members whose loans are included in such classes.
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(RSMo 1939 § 5534, A.L. 1941 p. 331, A.L. 1972 S.B. 502, A.L. 1982 H.B. 1099, A.L. 2010 S.B. 630)
Prior revision: 1929 § 5092
Effective 3-01-11
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 370.300
What does Revised Statutes of Missouri § 370.300 cover?
Section 370.300 ("Loans, interest rate — charges — refunds to members.") 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 § 370.300?
A common citation format is "Revised Statutes of Missouri § 370.300" (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 § 370.300 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.