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Can you summarize MORS Chapter 447?
OWNERSHIP AND CONVEYANCE OF PROPERTY > Lost and Unclaimed Property
Short Summary
This legal document, part of the Revised Statutes of Missouri, governs the ownership and conveyance of lost and unclaimed property. It provides definitions for various terms used in the document, including banking organizations, business associations, financial organizations, insurance corporations, holders, military medals, owners, persons, treasurer, and utilities. The document outlines the responsibilities and obligations of holders, who are individuals or entities in possession of property belonging to others. It also defines the concept of owners, which includes depositors, beneficiaries, creditors, claimants, payees, and individuals with legal or equitable interests in the property. The document exempts certain types of property, such as property held in a fiduciary capacity and property held by federal, state, or local government entities. It does not specify any penalties for non-compliance or violation of its provisions. Overall, it establishes the framework for dealing with lost and unclaimed property in the state of Missouri.
Whom does it apply to?
The document applies to holders of property, owners of property, and the treasurer.
What does it govern?
The legal document governs the ownership and conveyance of lost and unclaimed property.
What are exemptions?
The document exempts certain types of property, such as property held in a fiduciary capacity and property held by federal, state, or local government entities.
What are the Penalties?
The document does not specify any specific penalties for non-compliance or violation of its provisions.
Jurisdiction
Missouri