448.130. Insurance proceeds used for reconstruction--reconstruction defined. - Missouri Statutes

Insurance proceeds used for reconstruction--reconstruction defined.

448.130. In case of fire or any other disaster the insuranceproceeds, if sufficient to reconstruct the building, shall beapplied to such reconstruction. "Reconstruction of thebuilding", as used in this and section 448.140, means restoringthe building to substantially the same condition in which itexisted prior to the fire or other disaster, with each unit andthe common elements having the same vertical and horizontalboundaries as before.

(L. 1963 p. 648 § 13)