In case of fire or any other disaster the insurance proceeds, if sufficient to reconstruct the building, shall be applied to such reconstruction. "Reconstruction of the building", as used in this and section 448.140, means restoring the building to substantially the same condition in which it existed prior to the fire or other disaster, with each unit and the common elements having the same vertical and horizontal boundaries as before.
Mo. Rev. Stat. § 448.130
Insurance proceeds used for reconstruction — reconstruction defined
Known as the Condominium Property Act
The act spans §§ 448.005 to 448.210 (23 sections).
Effective: 28 Aug 1963; (L. 1963 p. 648 § 13)
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.