Review and approval of a summary statement prepared for the initiative petition submitted by Jewell Patek regarding a proposed amendment to Article III of the Missouri Constitution, version 2 (2013-030).

CHRIS KOSTER ATTO RNEY GENERAL ATTORNEY GENERAL OF MISSOURI JEFFERSON CITY 65102 May 28, 2013 P.O.Box899 (5 7 3 ) 7 5 1-3321 OPINION LETTER NO. 34-2013 The Honorable Jason Kander Missouri Secretary of State James C. Kirkpatrick State Information Center 600 West Main Street Jefferson City, MO 65101 Dear Secretary Kander: This opinion letter responds to your request dated May 16, 2013, for our review under§ 116.334, RSMo, of a proposed summary statement prepared for the petition submitted by Jewell Patek regarding a proposed constitutional amendment to amend Article III of the Missouri Constitution, version 2 (2013- 030). The proposed summary statement is as follows: Shall the Missouri Constitution be amended to: • limit the annual rate of interest, fees, and finance charges for certain loans, and prohibit lenders of such loans from using other transactions to avoid the rate limit; and · allow the legislature to set a licensing fee of no less than four hundred dollars a year charged to certain lenders for each of their locations? Pursuant to § 116.334, RSMo, we approve the legal content and form of the proposed statement. Because our review of the statement is mandated by statute, no action that we take with respect to such review should be construed OP-20 13-0046 www.ago.mo.gov The Honorable Jason Kander Page 2 as an endorsement of the petition, nor as the expression of any view regarding the objectives of its proponents. ~:'y?t:--- c s ~l Attorney General OP-2013-0046