191.540. Repayment schedules--breach of contract.
Repayment schedules--breach of contract.
191.540. 1. The department shall establish schedules andprocedures for repayment of the principal and interest of anyloan made under the provisions of sections 191.500 to 191.550 andnot forgiven as provided in section 191.530.
2. A penalty shall be levied against a person in breach ofcontract. Such penalty shall be twice the sum of the principaland the accrued interest.
(L. 1978 H.B. 884 § 9, A.L. 1988 H.B. 1380)