HB717--LANDBANKS
SPONSOR: Falkner
Currently,thefollowingareprohibitedfrompurchasingproperty
fromalandbank:membersofthegoverningbodyandemployeesofa
landbankagency;electedorappointedofficialsofthegoverning
bodyandemployeesofsuchofficials,ofthepoliticalsubdivision
inwhichalandbankagencyislocated;andthosewhoarerelated
totheabovewithintheseconddegreeofconsanguinity. Thisbill
repealsthisprovision(Section140.190,RSMo).
Undercurrentlaw,ifpropertypurchasedbyalandbankagencyis
notdonethroughforeclosureorasheriffssale,alandbankagency
maypurchasepropertyonlyifthepropertyisadjacenttoproperty
alreadyownedbythelandbankagency.Thisbillrepealsthis
requirement.
Currently,propertytobeaddedtoanotherparcelalreadyownedby
thelandbankagencycanbepurchasedataforeclosuresale.This
billrepealsthisrequirement(Section140.984).
Thebillrepealslanguagethatstatespropertysoldbyalandbank
agencythatwasacquiredthroughpurchase,transfer,exchangeor
giftshallbesold.Asimilarreferencetothislanguagein
Section140.988hasalsobeenrepealed.
TheseprovisionsonlyapplytoSt.JosephLandBanks.