Missouri Statutes

§ 215.040 — Fees for insuring loans, use of proceeds.

Missouri § 215.040

JurisdictionMissouri

Title XIIPUBLIC HEALTH AND WELFARE

Ch. 215State Housing

This text of Missouri § 215.040 (Fees for insuring loans, use of proceeds.) is published on Counsel Stack Legal Research, covering Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mo. Rev. Stat. § 215.040 (2026).

Text

The commission shall charge a reasonable fee on all loans not federally insured to insure said loans.  The proceeds of said fees shall be deposited in a separate fund to be known as the "Housing Insured Loan Fund".  This fund shall be deposited when received in a bank approved for deposit of state funds.  No moneys shall be withdrawn from the fund except to be used for the purchase of mortgage insurance or to pay for any losses on said loans.

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The commission shall charge a reasonable fee on all loans not federally insured to insure said loans. The proceeds of said fees shall be deposited in a separate fund to be known as the "Housing Insured Loan Fund". This fund shall be deposited when received in a bank approved for deposit of state funds. No moneys shall be withdrawn from the fund except to be used for the purchase of mortgage insurance or to pay for any losses on said loans.

Legislative History

(L. 1969 H.B. 130 § 7)

Nearby Sections

15

§ 215.010

§ 215.020

Commission established, members, qualifications, terms, quorum, compensation.

§ 215.030

Powers of commission — rulemaking, procedure — commission employee membership in state employees' retirement system.

§ 215.033

Creation of nonprofit corporation authorized, promotion of housing equity funds, purpose — definitions — powers — board, appointment, members, terms, expenses, personnel — report.

§ 215.034

Housing trust fund created, purpose — funding — housing development commission, costs how paid, limitation — duties — fund exempt from lapse into general revenue.

§ 215.036

Housing trust fund to be used for loans or grants for assistance to low-income persons or families — eligible persons — natural disaster exemption.

§ 215.037

Rental project receiving loan or grant to charge required gross rental rate — gross rental rate to include utilities, occupant paying utilities, rent to be reduced by utility allowance — certification by owner, requirements.

§ 215.038

Projects eligible for assistance.

§ 215.039

Housing development commission, powers and duties in administering housing trust fund — report.

§ 215.040

Fees for insuring loans, use of proceeds.

§ 215.054

Mental health housing trust fund, created — transfers to the fund, interest, how used — department of mental health to select projects, commission approval — moneys not to lapse — St. Joseph state hospital proceeds, use of funds.

§ 215.060

Loans made, purchased, when.

§ 215.062

Weatherization loan program, commission to continue.

§ 215.070

Debt service reserve fund — deposits to — investment of.

§ 215.080

Commission to set interest rate.

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Bluebook (online)

Missouri § 215.040, Counsel Stack Legal Research, https://law.counselstack.com/statute/mo/215/215.040.