Missouri § 67.1615 - Application for participation in program — eligibility, how determined — certificate of participation issued if eligible.
Full text of Missouri Revised Statutes of Missouri § 67.1615 — Application for participation in program — eligibility, how determined — certificate of participation issued if eligible., with citation guidance and answers to common questions.
§ 67.1615. Application for participation in program — eligibility, how determined — certificate of participation issued if eligible.
1. Eligibility for membership in the program shall be limited to the owner of a qualified residential property within the area of a home equity program.
2. An eligible applicant shall apply to the program by submitting an application and a registration fee as determined by the governing commission. Prior to accepting a registration fee, the governing commission shall inform the applicant of the rights, duties, and obligations of both the member and the governing commission pursuant to the program. Upon receipt of the registration fee, the governing commission shall have the residence of the applicant appraised by a program appraiser at the expense of the program to determine the guaranteed value of the residence. If the appraisal, at the time completed by a program appraiser, differs by more than fifteen percent from the market value as determined in the most recent assessment performed by the county assessor, the program administrator shall notify the governing commission and provide a written justification for the difference between the guaranteed value of the residence and the market value as determined in the most recent assessment before the commission accepts the guaranteed residence into the program.
3. At its option, the governing commission may require a second program appraisal of the qualified residence, also at the expense of the program, if it determines that the first program appraisal is incomplete, inadequate, or inaccurate.
4. A certificate of participation shall then be issued to the eligible applicant certifying membership in the program and stating the guaranteed value, the registration date, the address of the guaranteed residence and description of the conditions and exclusions of the program. An authorized program appraisal shall be attached to the certificate of participation.
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(L. 1999 S.B. 20)
---- end of effective 28 Aug 1999 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 67.1615
What does Revised Statutes of Missouri § 67.1615 cover?
Section 67.1615 ("Application for participation in program — eligibility, how determined — certificate of participation issued if eligible.") 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 § 67.1615?
A common citation format is "Revised Statutes of Missouri § 67.1615" (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 § 67.1615 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.