Missouri Laws 238.332 – Property, corporation may purchase and control access
Current as of: 2023 | Check for updates
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The corporation may, subject to commission approval:
(1) Purchase land or receive contributions of land and cash for project right-of-way;
Terms Used In Missouri Laws 238.332
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- Property: includes real and personal property. See Missouri Laws 1.020
(2) Limit and control access from adjacent property to a corporation project; and
(3) Sell and convey excess right-of-way for fair market value to any person or entity.