Title XXVI TRADE AND COMMERCE Chapter 408 • Effective - 28 Aug 1997 408.092. Attorney fees, enforcement of credit agreements, limitations. — 1. Notwithstanding any other provision of law to the contrary, attorneys' fees are permitted to enforce a credit agreement provided the enforcing attorney is a licensed member of the Missouri bar or is authorized to practice law in Missouri, and such fees meet one of the following requirements: (1) Such fees are included in the written credit agreement, and are not otherwise prohibited by law; or (2) Such fees do not exceed fifteen percent of the outstanding credit balance in default, provided such credit was extended by a for-profit business or credit union. 2. At the court's discretion, additional fees may be awarded to the attorney for the prevailing party. 3. For the purposes of this section, a 'credit agreement' shall have the same meaning as provided in subsection 1 of section 432.045. 4. No provision of this section shall be construed to authorize or limit attorney's fees permitted parties and transactions not covered by this section. -------- (L. 1997 H.B. 257)
Missouri Legal Code