Mo. Rev. Stat. § 447.506
Imposition of charges including prepayment penalties on certificates of deposit, requirements — not to affect unclaimed property
Missouri · Revised Statutes of Missouri Chapter 447 — Lost and Unclaimed Property · Status: effective · Effective 1998-08-28
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- Citation
- Mo. Rev. Stat. § 447.506, Imposition of charges including prepayment penalties on certificates of deposit, requirements — not to affect unclaimed property, Missouri, version 1 as recorded 2026-09-29, yourstate.us, https://yourstate.us/provision/1817225
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Full text
1. For the purpose of sections 447.500 to 447.595, a banking organization, business association, or financial organization may impose charges including prepayment penalties on certificates of deposit, on property subject to sections 447.500 to 447.595 that are lawful when collected, provided such organization or association gives prior constructive or actual notice to their customers that such charges may be imposed.
2. Incorrect computations or other bona fide errors that result in recredited charges to a customer's account that are made despite the holder's standard procedures to the contrary do not establish a pattern of custom or usage for charges on unclaimed property.