Missouri § 351.1150 - Unclaimed property, how treated.
Full text of Missouri Revised Statutes of Missouri § 351.1150 — Unclaimed property, how treated., with citation guidance and answers to common questions.
§ 351.1150. Unclaimed property, how treated.
1. A cooperative may, in lieu of paying or delivering to the state the unclaimed property specified in its report of unclaimed property filed under section 447.539:
(1) Distribute the unclaimed property to a business entity or organization that is exempt from taxation; or
(2) Retain the unclaimed property as operational reserve funds.
2. The right of an owner to unclaimed property held by a cooperative is extinguished when the property is disbursed by the cooperative to a tax exempt organization or retained by the cooperative as set forth in subsection 1 of this section if:
(1) A reasonable effort to distribute the property to the member has been made by the cooperative; and
(2) (a) Notice that the payment is available has been mailed to the last known address of the person shown by the records to be entitled to the property; or
(b) If the member's address is unknown, notice is published in an official publication of the cooperative; and
(3) The cooperative has received no response from the member within the two-year period following the date such notice was mailed or published as the case may be.
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(L. 2011 S.B. 366)
---- end of effective 28 Aug 2011 ----
Frequently Asked Questions About Missouri § 351.1150
What does Revised Statutes of Missouri § 351.1150 cover?
Section 351.1150 ("Unclaimed property, how treated.") 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 § 351.1150?
A common citation format is "Revised Statutes of Missouri § 351.1150" (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 § 351.1150 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.