Land bank agency authorized, purpose - public body corporate and politic.
Mo. Rev. Stat. § 140.981
in effect140.981. Land bank agency authorized, purpose — public body corporate and politic. — 1. Any county with more than one million inhabitants may establish a land bank agency for the management, sale, transfer, and other disposition of interests in real estate owned by such land bank agency. Any such county may establish a land bank agency by ordinance, resolution, or rule, as applicable. Such ordinance, resolution, or rule shall specify the name of the land bank agency. No county in which a land bank agency has been established under the provisions of sections 141.980 to 141.1015 shall elect to establish a land bank agency under this section.
2. Any municipality with more than one thousand five hundred inhabitants not located within a county with more than one million inhabitants may establish a land bank agency for the management, sale, transfer, and other disposition of interests in real estate owned by such land bank agency. A municipality may establish a land bank agency by ordinance, resolution, or rule, as applicable.
3. A land bank agency shall not own any interest in real estate located wholly or partially outside the city that established the land bank.
4. A land bank agency shall be established for the purpose of returning land, including land that is in a non-revenue-generating, non-tax-producing status, to use in private ownership, or for public use.
5. A land bank agency created under the chapter 140 land bank act shall be a public body corporate and politic and shall have permanent and perpetual duration until terminated and dissolved in accordance with the provisions of section 140.1012 .
(L. 2019 H.B. 821, A.L. 2024 H.B. 2062)
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://revisor.mo.gov/main/OneSection.aspx?section=140.981Fetched: 10/17/2026