Missouri SB1556 modifies provisions relating to land banks, including eligibility criteria for bidders and the management of acquired properties.
Missouri SB1556 modifies provisions relating to land banks, including eligibility criteria for bidders and the management of acquired properties. The bill specifies that certain entities, such as those with failed registered agents or foreign corporations without a certificate of authority, are ineligible to buy property from a land bank agency. It also mandates that a land bank agency must sell or put to a productive use any property it holds for more than five years, with possible extensions under certain conditions.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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