537.1102 - PURPOSES -- RULES OF CONSTRUCTION.

        537.1102  PURPOSES -- RULES OF CONSTRUCTION.         1.  This chapter shall be liberally construed and applied to      promote its underlying purposes and policies.         2.  The underlying purposes and policies of this chapter are to:         a.  Simplify, clarify and modernize the law governing retail      installment sales and other consumer credit.         b.  Provide rate ceilings for certain creditors in order to      assure an adequate supply of credit to consumers.         c.  Further consumer understanding of the terms of credit      transactions and foster competition among suppliers of consumer      credit so that consumers may obtain credit at reasonable cost.         d.  Protect consumers against unfair practices by some      suppliers, solicitors or collectors of consumer credit, having due      regard for the interests of legitimate and scrupulous creditors.         e.  Permit and encourage the development of fair and      economically sound consumer credit practices.         f.  Conform the regulation of disclosure in consumer credit      transactions to the Truth in Lending Act.         g.  Make the law, including administrative rules, more uniform      among the various jurisdictions.         3.  A reference to a requirement imposed by this chapter includes      reference to a related rule of the administrator adopted pursuant to      this chapter.  
         Section History: Early Form
         [C75, 77, 79, 81, § 537.1102]