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LINCOLN CREDIT CO. v. PEACH

No. 63018.

636 S.W.2d 31 (1982)

LINCOLN CREDIT CO., et al., Appellants, v. George PEACH, et al., Respondents.

Supreme Court of Missouri, En Banc.

Rehearing Denied August 2, 1982.

Attorney(s) appearing for the Case

Warren H. Kawin, L. W. Higley, St. Louis, for appellants.

John Ashcroft, Atty. Gen., S. Francis Baldwin, Asst. Atty. Gen., Jefferson City, George Peach, Circuit Atty., David Wells and John Finger, St. Louis, for respondents.

DONNELLY, Chief Justice.

In 1979, the Missouri General Assembly enacted § 408.096, RSMo Supp. 1979 (effective September 28, 1979). It provides as follows:

No person, firm or corporation shall receive or impose any fee or charge, other than one expressly provided for by statute, for arranging credit in the amount of one thousand dollars or less the proceeds of which are intended to be used by the borrower primarily for personal, family or household purposes...

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