Missouri Revised Statutes § 407.642 - Contract requirements, cancellation clause

407.642. Contract requirements, cancellation clause. — 1. Each contract between the buyer and a credit services organization for the purchase of the services of the credit services organization must be in writing, dated, signed by the buyer and must include: (1) A statement in type that is boldfaced, capitalized, underlined, or otherwise set out from surrounding written material so as to be conspicuous, in immediate proximity to the space reserved for the signature of the buyer, as follows: (2) The terms and conditions of payment, including the total of all payments to be made by the buyer, whether to the credit services organization or to another person; (3) A full and detailed description of the services to be performed by the credit services organization for the buyer, including all guarantees and all promises of full or partial refunds, and the estimated length of time, not to exceed one hundred eighty days, for performing the services; and (4) The address of the credit services organization's principal place of business and the name and address of its registered agent in the state authorized to receive service of process. 2. The contract must have attached two easily detachable copies of a notice of cancellation. The notice must be in boldfaced type and in the following form: 3. The credit services organization shall give to the buyer a copy of the completed contract and all other documents the credit services organization requires the buyer to sign at the time they are signed. 4. The breach by a credit services organization of a contract under this section, or of any obligation arising from a contract under this section, is a violation of sections 407.635 to 407.644. (L. 1991 S.B. 112 § 7)