Missouri Court of Appeals, Western District / Apr 24, 2018
James Baker, et al vs. Century Financial Group, Inc., et al
Borrowers, representatives of a certified class, appealed the circuit court's decisions to grant motions to dismiss and for summary judgment in their claims against Lenders under the Missouri Second Mortgage Loan Act (MSMLA). The trial court had applied a three-year statute of limitations, relying on Eighth Circuit precedent. The appellate court reversed, holding that the six-year statute of limitations in § 516.420 RSMo applies to MSMLA claims against moneyed corporations, consistent with its own prior precedent. The case was remanded for further proceedings.