MCA Disclosure Laws
**Missouri** {#missouri}
Where We Are Currently
Effective February 28, 2025, Missouriâs **Commercial Financing Disclosure Law** (*Senate Bill 1359; RSMo § 427.300 et seq.*) is now in effect. The law requires providers of covered commercial-financing transactionsâincluding commercial loans, open-end credit plans, and accounts-receivable purchase transactions up to $500,000âto deliver standardized cost and repayment disclosures at or before consummation. It also introduces a broker-registration requirement, with each registered broker required to post a $10,000 surety bond. Enforcement authority lies with the Missouri Attorney General, while rulemaking and registration are handled by the Division of Finance. Exemptions include depository institutions, transactions above $500,000, and other categories specified in the statute. *([Mayer Brown, 2024](https://www.mayerbrown.com/en/insights/publications/2024/09/missouri-regulates-providers-and-brokers-under-new-commercial-financing-law?utm_source=chatgpt.com); [LegiScan â SB 1359 text](https://legiscan.com/MO/text/SB1359/id/2901629?utm_source=chatgpt.com))*
How We Got Here
SB 183 (2024) created the Commercial Financing Disclosure Law; Division of Finance rulemaking is anticipated, with operative timing addressed in commentary. (Lewis Rice)
What Funders Need to Know
Subject
Covers providers of commercial financing and commercial financing brokers (registration required). ([Missouri Revisor](https://revisor.mo.gov/main/OneSection.aspx?section=427.300&utm_source=chatgpt.com))
Exemptions
Section 427.300 includes inapplicability provisions (e.g., certain transaction types and amounts) as set forth in the statute.
Compliance Requirement
Commercial financing brokers must register and maintain a $10,000 bond; providers must comply with disclosure duties once operative. ([Missouri Revisor](https://revisor.mo.gov/main/OneSection.aspx?section=427.300&utm_source=chatgpt.com))
Disclosure Requirements
Core cost and repayment items per statute/rules once operative.
Other Rules (optional)
Commercial financing brokers must register with the Division of Finance and maintain a $10,000 surety bond. [lewisrice.com](https://www.lewisrice.com/publications/show-me-the-terms-missouris-new-financing-disclosure-law/?utm_source=chatgpt.com)
Penalties
Violations are enforceable under §427.300; the law specifies violations and authorizes enforcement on and after its operative date. [Missouri Revisor of Statutes](https://revisor.mo.gov/main/OneSection.aspx?section=427.300&utm_source=chatgpt.com)
Official Documents (links)
RSMo §427.300 (Broker bond requirement). ([Missouri Revisor](https://revisor.mo.gov/main/OneSection.aspx?section=427.300&utm_source=chatgpt.com))
Expert Opinions and Analysis (links)
Missouri Commercial Financing Disclosure Law â summary and effective timing. ([Lewis Rice](https://www.lewisrice.com/publications/show-me-the-terms-missouris-new-financing-disclosure-law/))
Operator Checklist
- If you act as a broker, register and file the $10,000 bond before engaging. ([Missouri Revisor](https://revisor.mo.gov/main/OneSection.aspx?section=427.300&utm_source=chatgpt.com))
- Stage provider disclosures to match the final rule forms and operative date. (Lewis Rice)
- Inventory A/R and facility products to align with forthcoming MO rule forms, and keep evidence of disclosure delivery/acceptance for examination and enforcement under §427.300. [Venable+1](https://www.venable.com/insights/publications/2024/08/missouri-tells-commercial-financing?utm_source=chatgpt.com)