442.591. Exceptions.
Exceptions.
442.591. The restrictions set forth in sections 442.560 to442.592 shall not apply to agricultural land or any interesttherein acquired by an alien or foreign business for immediate orpotential use in nonfarming purposes. An alien or foreignbusiness may hold such agricultural land in such acreage as maybe necessary to its nonfarm business operation; provided,however, that pending the development of agricultural land fornonfarm purposes, such land may not be used for farming exceptunder lease to a family farm unit; a family farm corporationdefined in section 350.010, RSMo; an alien or foreign businesswhich has filed with the director under sections 442.560 to442.592; or except when controlled through ownership, options,leaseholds or other agreements by a corporation which has enteredinto an agreement with the United States of America pursuant tothe New Community Act of 1968 (Title IV of the Housing and UrbanDevelopment Act of 1969, 42 U.S.C. 3901-3914), as amended, or asubsidiary or assignee of such a corporation.
(L. 1978 S.B. 685 § 7, A.L. 1979 S.B. 34)