On demand clause for commercial loans

Posted By: Samantha1

On demand clause for commercial loans - 03/02/09 10:17 PM

I understand from ARTA (Wolters Kluwer) our document system, that the demand clause was removed from documents in 2004 due to a change in Missouri law, I am looking for assistance to locate information about this change, any idea where I can find this info?

Thanks in advance.
Posted By: Tom at HOME

Re: On demand clause for commercial loans - 03/03/09 04:13 AM

Since Wolters Kluwer said the modification was made due to a change in Missouri law, they should be able to cite the law to justify the change. I'm certain they can, if asked.
Posted By: Samantha1

Re: On demand clause for commercial loans - 03/03/09 10:37 PM

Thanks Tom, I did ask, and they referred me to our legal counsel. I thought maybe someone from Missouri might have had some previous dealings regarding this subject.

Thanks again for responding.