Missouri Revised Statutes













Chapter 443

Mortgages, Deeds of Trust and Mortgage Brokers

←443.070

Section 443.080.1

443.090→

August 28, 2015

Satisfaction of mortgage, deed of trust or security instrument of railroad or utility, when entered.

443.080. The trustee, or trustees, in any security instrument given or

which may hereafter be given by a railroad company or other public utility

company which is subject to the regulation of the motor carrier and railroad

safety division of the department of economic development, or successors,

upon its property or any part thereof, may enter satisfaction of said security

instrument upon the records where the same has been recorded. Where such

security instrument was recorded prior to January 1, 1986, without producing

the bonds, notes or coupons secured by said security instrument, satisfaction

shall not be entered unless the trustee, or if said trustee is a corporation,

its president or vice president, and the president or vice president of the

railroad company or other public utility company, or of its successors or

assigns, shall make and file with the recorder affidavits stating that all of

the bonds, notes or coupons secured by said security instrument have been

paid or that sufficient funds have been deposited with a bank or trust company

to pay all the bonds, notes or coupons still outstanding and unpaid; and that

said money is deposited for the express purpose of paying said bonds, notes

or coupons when the same shall be presented at said bank or trust company for

payment.



(RSMo 1939 § 3467, A.L. 1947 V. I p. 229, A.L. 1985 H.B. 210)



Prior revisions: 1929 § 3080; 1919 § 2239; 1909 § 2846



Effective 1-1-86



CROSS REFERENCE:



Division of motor carrier and railroad safety abolished, duties and

functions transferred to highways and transportation commission

and department of transportation, 226.008







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