Title XXVI TRADE AND COMMERCE Chapter 408 • Effective - 28 Aug 1979 408.552. Enforceability of default provisions. — An agreement of the parties to a credit transaction concerning default by the borrower is enforceable only to the extent that: (1) The borrower fails to make a payment as required by agreement; or (2) The lender's prospect of payment, performance, or ability to realize upon the collateral is significantly impaired; the burden of establishing significant impairment is on the lender. -------- (L. 1979 S.B. 305)
Missouri Legal Code