Missouri § 369.244 - Association may purchase, convey or manage property in which it has a security interest — time limitation.
Full text of Missouri Revised Statutes of Missouri § 369.244 — Association may purchase, convey or manage property in which it has a security interest — time limitation., with citation guidance and answers to common questions.
§ 369.244. Association may purchase, convey or manage property in which it has a security interest — time limitation.
1. An association may purchase at any sale, public or private, any real or personal property upon which it has a mortgage, judgment, deed of trust, pledge, lien or other encumbrance or in which it has any interest, and it may acquire any real or personal property which may be conveyed or transferred to it in full or in partial satisfaction, discharge or release of loans for which such property is security.
2. An association may sell, convey, lease, exchange, improve, repair, mortgage, convey in trust, pledge or encumber any real or personal property purchased or acquired by it as authorized by subsection 1 of this section.
3. An association may invest its funds, operate a business, manage or deal in property, or take any other action over whatever period of time may reasonably be necessary to avoid loss on a loan or investment previously made or an obligation previously created in good faith. Said property is not to be held by the association for a period in excess of six years, unless specifically authorized by the director of the division of finance.
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(L. 1971 S.B. 3 § 48, A.L. 1994 H.B. 1165)
Effective 7-06-94
---- end of effective 06 Jul 1994 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 369.244
What does Revised Statutes of Missouri § 369.244 cover?
Section 369.244 ("Association may purchase, convey or manage property in which it has a security interest — time limitation.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 369.244?
A common citation format is "Revised Statutes of Missouri § 369.244" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 369.244 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.