Title XXIII — CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

353.010. Citation of chapter. — This chapter shall be known and may be cited and referred to as "The Urban Redevelopment Corporations Law". ­­-------- (L. 1943 p. 751 § 1, A.L. 1945 p. 1242, A.L. 1969 S.B. 373, A.L. 1976 H.B. 1369, A.L. 1988 H.B. 1738, A.L. 1993 H.B. 566 merged w…

353.020. Definitions. — The following terms, whenever used or referred to in this chapter, mean: (1) "Area", that portion of the city which the legislative authority of such city has found or shall find to be blighted so that the clearance, replanning, rehabilitation, or reconstr…

353.030. Organization of corporation — contents of articles of agreement. — Corporations referred to in this chapter as urban redevelopment corporations may be organized in the following manner: The articles of agreement or association shall be prepared, subscribed and acknowledg…

353.040. Life insurance company operating as urban redevelopment corporation — limitation on earnings — disposition of surplus. — 1. Any life insurance company operating as an urban redevelopment corporation under this chapter shall be limited in its net earnings derived exclusiv…

353.050. Use of word "redevelopment" prohibited — exceptions. — No corporation now organized under the laws of this state shall change its name to a name, and no such corporation hereafter organized shall have a name, containing the word "redevelopment" as a part thereof except a…

353.060. Urban redevelopment corporation may operate one or more development projects — powers, public hearing required, when. — An urban redevelopment corporation shall operate under this chapter on one or more redevelopment projects pursuant to an authorized development plan, a…

353.070. General corporation laws unless conflicting apply. — The provisions of the general corporation laws, as presently in effect and as hereafter from time to time amended, shall apply to urban redevelopment corporations, except where such provisions are in conflict with the …

[Repealed or reserved.]

353.090. Maintain reserves for specific purposes. — An urban redevelopment corporation shall establish and maintain depreciation, obsolescence, and other reserves, also surplus and other accounts, including, among others, a reserve for the payment of taxes according to recognized…

353.100. When corporation may pay interest on its income debentures or dividends on its stock. — No urban redevelopment corporation shall pay any interest on its income debentures or dividends on its stock during any dividend year unless there shall exist at the time of such paym…

353.110. Real property exempt from taxation — limitation. — 1. Once the requirements of this section have been complied with, the real property of urban redevelopment corporations acquired pursuant to this chapter shall not be subject to assessment or payment of general ad valore…

353.120. Transfer by fiduciaries and public agencies of real property to a redevelopment corporation. — Notwithstanding any requirement of law to the contrary, or the absence of direct provision therefor in the instrument under which a fiduciary is acting, every executor, adminis…

353.130. Redevelopment corporation may acquire property. — 1. An urban redevelopment corporation may acquire real property or secure options in its own name or, in the name of nominees, it may acquire real property by gift, grant, lease, purchase, or otherwise. 2. An urban redeve…

353.140. Occupancy of property acquired by corporation by previous owners — conditions. — When title to real property has been vested in an urban redevelopment corporation by gift, grant, devise, purchase, or by condemnation proceedings or otherwise, the urban redevelopment corpo…

353.150. Borrowing of money and giving of security by corporation. — 1. Any urban redevelopment corporation may borrow funds and secure the repayment thereof by mortgage which shall contain reasonable amortization provisions and shall be a lien upon no other real property except …

353.160. May accept grants or loans from the United States government. — Any urban redevelopment corporation may accept grants or loans of money from the government of the United States or any department or agency thereof. ­­-------- (L. 1943 p. 751 § 23, A.L. 1945 p. 1242 § 15)…

353.170. City may acquire, clear, convey or lease property for use in redevelopment project. — Any city subject to this chapter shall have power: (1) To acquire by the exercise of the power of eminent domain, or otherwise, an area designated on a master plan under the authority o…

353.180. Any corporation may purchase shares of stock of urban redevelopment corporation. — Any corporation organized under the laws of the state of Missouri, or admitted to do business in the state of Missouri, shall have power to purchase any or all of the shares of stock of an…

353.190. Real property tax abatement not to apply, excursion gambling boats. — For projects related to any riverfront development designed to enhance the location of an excursion gambling boat licensed under the provisions of section 313.800 to 313.850, real property tax abatemen…