209.035. Proceeds from involuntary conversion, how treated--receipt defined. - Missouri Statutes

Proceeds from involuntary conversion, how treated--receipt defined.

209.035. 1. Any proceeds from involuntary conversion ofreal property into personal property (such as forced transferunder condemnation, eminent domain, and fire, flood or other actof God) received by a recipient while eligible to receive blindpension benefits under existing laws shall be considered realproperty for a period of one year from the time of their receipt.

2. For the purposes of this section the word "receipt" meansactual receipt of the proceeds or the payment into court of theproceeds, except that in condemnation cases where the initialexception to the commissioner's award is filed by the condemningauthority, the word "receipt" means receipt of an award under afinal judgment.

(L. 1972 S.B. 483)