☰ Revisor of Missouri


Chapter 443

< > Effective - 28 Aug 2018    bottom

  443.1003.  Definitions. — As used in sections 443.1001 to 443.1007, the following terms mean:

  (1)  "Account holder", an individual who establishes an account with a financial institution that is designated as a first-time home buyer savings account in accordance with section 443.1004;

  (2)  "Department", the department of revenue;

  (3)  "Eligible expenses", a down payment and any closing costs included on a real estate settlement statement including, but not limited to, appraisal fees, mortgage origination fees, and inspection fees;

  (4)  "Financial institution", any state bank, state trust company, savings and loan association, federally chartered credit union doing business in this state, credit union chartered by the state of Missouri, national bank, broker-dealer, mutual fund, insurance company, or other similar financial entity qualified to do business in this state;

  (5)  "First-time home buyer", an individual who:

  (a)  Has never owned or purchased under contract for deed, either individually or jointly, a single-family, owner-occupied primary residence including, but not limited to, a condominium unit or a manufactured or mobile home that was assessed and taxed as real property; or

  (b)  As a result of the individual's dissolution of marriage, has not been listed on a property title for at least three consecutive years;

  (6)  "First-time home buyer savings account" or "account", an account with a financial institution designated as such in accordance with subsection 1 of section 443.1004;

  (7)  "Qualified beneficiary", a first-time home buyer designated by an account holder for whose eligible expenses the moneys in a first-time home buyer savings account are or will be used.


(L. 2018 H.B. 1796)

---- end of effective  28 Aug 2018 ----

use this link to bookmark section  443.1003

Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law
In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions End Report

Site changes Pictures Contact

Other Links
Legislative Research Oversight MOLIS
Library MO WebMasters
Missouri Senate
State of Missouri
Missouri House