Missouri
For Missouri, statute citation is Mo. Rev. Stat. § 361.749; effective date is August 28, 2023; product classification is not a loan or other form of credit; not money transmission; licensing requirement is license required from the Missouri Division of Finance; late fees prohibited is yes — provider shall not charge interest for failure to repay outstanding proceeds, recorded from its source on 2026-08-18.
- state
- Missouri verified
- statute citation
- Mo. Rev. Stat. § 361.749 our reading
- effective date
- August 28, 2023 verified
- product classification
- not a loan or other form of credit; not money transmission verified
- licensing requirement
- license required from the Missouri Division of Finance verified
- late fees prohibited
- yes — provider shall not charge interest for failure to repay outstanding proceeds verified
- collection limits
- provider shall not compel repayment through civil suit, third-party collector, or sale to debt buyer; shall not report to consumer credit reporting agency or debt collector verified
Values marked our reading are our classification of what the source says — the source does not print them in those words. The quote below is the evidence for each one; judge it yourself.
What the source says
A loan or other form of credit, and the provider shall not be considered a creditor or a lender; (c) Money transmission, and the provider shall not be considered a money transmitter;
— revisor.mo.gov, retrieved 2026-08-18
Source
- revisor.mo.govhttps://revisor.mo.gov/main/OneSection.aspx?section=361.749