| SB 0517 | Changes requirements for the formation of housing cooperatives |
| Sponsor: | Graves | |||
| LR Number: | S2486.01T | Fiscal Note: | 2486-01 | |
| Committee: | Insurance and Housing | |||
| Last Action: | 07/10/98 - Signed by Governor | Journal page: | ||
| Title: | ||||
| Effective Date: | August 28, 1998 | |||
SB 517 - This act adds a new section to Chapter 357, RSMo,
relating to housing cooperatives. The new section allows 5 or
more people to associate as a cooperative for the purpose of
producing or furnishing housing. No shareholder of such a
cooperative may own more than 20% of the aggregate stock and the
cooperative is exempt from the use of the funds restriction found
in Section 357.150, RSMo.
MICHAEL HOEFERKAMP