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USA Statutes : missouri
Title : CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter : Chapter 350 Farming Corporations
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For the purposes of this section, the terms defined in this
section have the meanings here given them:
(1) "Agricultural land" means land used for farming.
(2) "Authorized farm corporation" means a corporation meeting the
following standards:
(a) All of its shareholders, other than any estate, or revocable and
irrevocable trusts, are natural persons;
(b) It must receive two-thirds or more of its total net income from
farming as defined in this section;
(3) "Corporation" means a corporation or a cooperative.
(4) "Family farm" means an unincorporated farming unit owned or leased by
one or more persons residing on the farm or actively engaging in farming.
(5) "Family farm corporation" means a corporation incorporated for the
purpose of farming and the ownership of agricultural land in which at
least one-half of the voting stock is held by and at least one-half of
the stockholders are members of a family related to each other within the
third degree of consanguinity or affinity including the spouses,
sons-in-law and daughters-in-law of any such family member according to
the rules of the common law, and at least one of whose stockholders is a
person residing on or actively operating the farm, and none of whose
stockholders are a corporation prohibited by section 350.015 from
entering into farming, or any corporation which is subject to the
controlled expansion provisions of section 350.015; provided that a
family farm corporation shall not cease to qualify as such hereunder by
reason of any gift, devise or bequest of shares of voting stock. A person
actively operating a farm shall include, but not be limited to, a person
who has an ownership interest in the family farm corporation and
exercises some management control or direction.
(6) "Farming" means using or cultivating land for the production of (a)
agricultural crops; (b) livestock or livestock products; (c) poultry or
poultry products; (d) milk or dairy products; or (e) fruit or other
horticultural products, provided; however, "farming" shall not include a
processor of farm products or a distributor of farming supplies
contracting to provide spraying, harvesting or other farming services.
(L. 1975 H.B. 655 § 1)
(1988) Chapter 350, RSMo, is rationally related to a legitimate state
interest and does not violate the equal protection clauses of federal and
state constitutions. State ex rel. Webster v. Lehndorff Geneva, 744
S.W.2d 801 (En banc).
After September 28, 1975, no corporation not already engaged in
farming shall engage in farming; nor shall any corporation, directly or
indirectly, acquire, or otherwise obtain an interest, whether legal,
beneficial or otherwise, in any title to agricultural land in this state;
provided, however, that the restrictions set forth in this section shall
not apply to the following:
(1) A bona fide encumbrance taken for purposes of security;
(2) A family farm corporation or an authorized farm corporation as
defined in section 350.010;
(3) Agricultural land and land capable of being used for farming owned by
a corporation as of September 28, 1975, including the normal expansion of
such ownership at a rate not to exceed twenty percent, measured in acres,
in any five-year period, or agricultural land and land capable of being
used for farming which is leased by a corporation in an amount, measured
in acres, not to exceed the acreage under lease to such corporation as of
September 28, 1975, and the additional acreage for normal expansion at a
rate not to exceed twenty percent in any five-year period, and the
additional acreage reasonably necessary, whether to be owned or leased by
a corporation, to meet the requirements of pollution control regulations;
(4) A farm operated wholly for research or experimental purposes,
including seed research and experimentation and seed stock production for
genetic improvements, provided that any commercial sales from such farm
shall be incidental to the research or experimental objectives of the
corporation;
(5) Agricultural land operated by a corporation for the purposes of
growing nursery plants, vegetables, grain or fruit used exclusively for
brewing or winemaking or distilling purposes and not for resale, for
forest cropland or for the production of poultry, poultry products, fish
or mushroom farming, production of registered breeding stock for sale to
farmers to improve their breeding herds, for the production of raw
materials for pharmaceutical manufacture, chemical processing, food
additives and related products, and not for resale;
(6) Agricultural land operated by a corporation for the purposes of
alfalfa dehydration exclusively and only as to said lands lying within
fifteen miles of a dehydrating plant, and provided further said crops
raised thereon shall be used only for further processing and not for
resale in its original form;
(7) Any interest, when acquired by an educational, religious, or
charitable not-for-profit or pro forma corporation or association;
(8) Agricultural land or any interest therein acquired by a corporation
other than a family farm corporation or authorized farm corporation, as
defined in section 350.010, for immediate or potential use in nonfarming
purposes. A corporation may hold such agricultural land in such acreage
as may be necessary to its nonfarm business operation; provided, however,
that pending the development of agricultural land for nonfarm purposes,
such land may not be used for farming except under lease to a family farm
unit, a family farm corporation or an authorized farm corporation, or
except when controlled through ownership, options, leaseholds, or other
agreements by a corporation which has entered into an agreement with the
United States of America pursuant to the New Community Act of 1968 (Title
IV of the Housing and Urban Development Act of 1968, 42 U.S.C.
3901-3914), as amended, or a subsidiary or assign of such a corporation;
(9) Agricultural lands acquired by a corporation by process of law or
voluntary conveyance in the collection of debts, or by any procedure for
the enforcement of a lien or claim thereon, whether created by mortgage
or otherwise; provided, that any corporation may hold for ten years real
estate acquired in payment of a debt, by foreclosure or otherwise, and
for such longer period as may be provided by law;
(10) The provisions of sections 350.010 to 350.030 shall not apply to the
raising of hybrid hogs in connection with operations designed to improve
the quality, characteristics, profitability, or marketability of hybrid
hogs through selective breeding and genetic improvement where the primary
purpose of such livestock raising is to produce hybrid hogs to be used by
farmers and livestock raisers for the improvement of the quality of their
herds;
(11) A bank or trust company acting as administrator or executor under
the terms of a will or trustee under the terms of a testamentary or inter
vivos trust created by the owner of a family farm, or an inter vivos or
testamentary trust, the principal of which is shares of a family farm
corporation or authorized farm corporation and which trust is created by
a shareholder of the family farm corporation or authorized farm
corporation. However, a bank or trust company acting in the
administration of an investment trust or a management trust formed with
the primary purpose of making or managing investments or income-producing
property and purchasing agricultural real estate with trust funds with
the primary benefits accruing to investors or shareholders in the trust
is not exempt from the provisions of sections 350.010 to 350.030;
(12) Agricultural land that on June 1, 1998, was in compliance with
section 350.016. (L. 1975 H.B. 655 § 2, A.L. 1977 S.B. 326, A.L. 1998
S.B. 832)
The restrictions set forth in section 350.015 shall not apply to
agricultural land which is used by a corporation or limited partnership
for the production of swine or swine products located in any county of
the third classification with a township form of government which has at
least three thousand but no more than four thousand inhabitants, or any
county which adjoins such county which has a population of at least four
thousand five hundred but no more than six thousand five hundred
inhabitants. (L. 1993 H.B. 566)
*H.B. 566 and S.B. 84 both amended this section during the 1st Regular
Session of the 87th General Assembly, 1993. Due to conflict, both
versions are printed here.
(2003) Term "production of swine or swine products" includes cattle
grazing for the purpose of nitrogen removal from the land application of
effluent. State ex rel. Nixon v. Premium Standard Farms, 100 S.W.3d 157
(Mo.App. W.D.).
The restrictions set forth in section 350.015 shall not apply to
agricultural land in counties located north of the Missouri River and
west of the Chariton River and having a population of more than three
thousand five hundred and less than seven thousand inhabitants which
border at least two other counties having a population of more than three
thousand five hundred and less than seven thousand inhabitants which is
used by a corporation or limited partnership for the production of swine
or swine products. (L. 1993 S.B. 84)
*H.B. 566 and S.B. 84 both amended this section during the 1st Regular
Session of the 87th General Assembly, 1993. Due to conflict, both
versions are printed here.
1. Every corporation engaged in farming, or proposing to
commence farming, in this state after September 28, 1975, shall file with
the director of the state department of agriculture a report containing
the following information:
(1) The name of the corporation and its place of incorporation;
(2) The address of the registered office of the corporation in this
state, the name and address of its registered agent in this state and, in
the case of a foreign corporation, the address of its principal office in
its place of incorporation;
(3) The acreage and location listed by section, township, and county of
each lot or parcel of land in this state owned or leased by the
corporation and used for farming; and
(4) The names and addresses of the officers and the members of the board
of directors of the corporation.
2. The report of a corporation seeking to qualify hereunder as a family
farm corporation or an authorized farm corporation shall contain the
following additional information:
(1) The number of shares owned by persons residing on the farm or
actively engaged in farming, or their relatives within the third degree
of consanguinity or affinity including their spouses, sons-in-law and
daughters-in-law according to the rules of the common law;
(2) The name, address and number of shares owned by each shareholder; and
(3) A statement as to percentage of net receipts of the corporation
derived from any sources other than farming.
3. No corporation shall commence farming in this state until it has filed
the report required by this section.
4. Every corporation, except a family farm corporation, engaged in
farming in this state shall file with the director of the state
department of agriculture a report containing the information required in
subsection 1 of this section. Said reports shall be filed:
(1) Whenever any of the information required in subsection 1 changes;
(2) Whenever ownership of the controlling interest in the corporation
changes; and
(3) Whenever the land owned or leased by the corporation ceases to be
used for farming or is sold by the corporation.
5. The failure of a corporation to file a required report, or the use of
false information in the report, shall be a misdemeanor for which the
corporation shall be punished by a fine of not less than five hundred
dollars or more than one thousand dollars. (L. 1975 H.B. 655 § 3, A.L.
1979 S.B. 41)
All farm cooperatives who own farm land shall report under
section 350.020 hereof. (L. 1975 H.B. 655 § 5)
If the attorney general finds a corporation is violating
sections 350.010 to 350.030, he shall institute an action in the circuit
court of Cole County, Missouri, if a foreign corporation, and if a
Missouri corporation in the circuit court of any county in which the
corporation owns any agricultural lands or if the land is located in two
or more counties, then in the circuit court of a county in which a part
of the land is located. The attorney general shall file a notice of the
pendency of the action with the recorder of deeds of each county in which
any portion of said lands are located. If the court finds that the lands
in question are being held or used in violation of sections 350.010 to
350.030, it shall enter an order so declaring. The court shall file for
record its order with the recorder of deeds of each county in which any
portion of said lands are located. Thereafter, the corporation owning the
land shall comply with the orders of the court, or if so ordered shall
have a period of two years from the date of such order to divest itself
of such land. The two-year limitation period shall be a covenant running
with the title to the land against any corporate grantee or corporate
assignee or the successor corporation of such corporation, except those
corporations excluded by section 350.015. Any lands not divested within
the time prescribed shall be ordered sold by the court at public sale in
the manner prescribed by law for the foreclosure of a mortgage on real
estate for default in payment. (L. 1975 H.B. 655 § 4)
Notwithstanding any other provision of law to the contrary, any
corporation or cooperative engaged in farming as defined in subdivision
(6) of section 350.010 shall not be eligible for any state tax credits,
deductions, state grants, loans or other financial or economic
assistance, unless a family farm or a family farm corporation as defined
in subdivisions (4) and (5) of section 350.010 receives such credits,
deductions, grants, loans, or other assistance. This section does not
apply to agricultural processing or food processing facilities. (L. 1996
H.B. 1207 § 640.717)
Effective 6-25-96
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