427.021. Definitions.
Definitions.
427.021. As used in sections 427.011 to 427.041, thefollowing terms mean:
(1) "Contaminate" or "pollute", contamination or pollutionof air, water, real or personal property, animals, or humanbeings from a location in the state of Missouri, including, butnot limited to, contamination or pollution from hazardoussubstances or radioactive materials as otherwise defined bysubdivision (5) of section 260.500, RSMo;
(2) "Lender-owner", an individual, a bank, a bank holdingcompany, a savings and loan association, a credit union, aninsurance company, a consumer finance company, a mortgage companyor an institution chartered pursuant to the provisions of an actof Congress of the United States known as the Farm Credit Act of1971, which has or had a bona fide security interest in ormortgage or lien on real or personal property, which arehereafter referred to as financial institutions, which interestwas not obtained primarily for the purpose of avoidingenvironmental liability arising from or at the site of such realor personal property, including:
(a) A financial institution which forecloses on a debt;
(b) A financial institution which receives an assignment ona debt;
(c) A financial institution which receives a deed in lieuof foreclosure or other conveyance in full or partialsatisfaction of a debt;
(d) A financial institution which obtains a receiver inanticipation of foreclosure, whether or not such financialinstitution becomes the owner of such real or personal property;or
(e) A financial institution which is a regulated creditorprincipally in the business of extending credit and which obtainstitle pursuant to an execution of a judgment lien;
(3) "Participating in management" does not includemonitoring a debtor's business, acquiring title in lieu of aforeclosure or other agreement in settlement of the operator's orproperty owner's debt;
(4) "Representative", any person or entity acting in thecapacity of a conservator, guardian ad litem, personalrepresentative of a deceased person, or trustee or fiduciary ofreal or personal property; except that the terms "trustee" and"fiduciary" shall be limited either to entities acting as trusteeor fiduciary and which are chartered by the state division ofcredit unions, or the division of finance, the office of theUnited States Comptroller of the Currency, the National CreditUnion Administration, or the Office of Thrift Supervision, or anindividual or fiduciary of an irrevocable trust who does not havean interest as a beneficiary either at the time the trust wasestablished or amended, provided that:
(a) Such trust was not established or assets weretransferred to such trust for the intended purpose of avoidingenvironmental liability; or
(b) Such individual trustee or fiduciary does not impair orobstruct access by any governmental entity to any trust asset tocontain, control, or otherwise remediate hazardous substances;
(5) "Third parties", persons or entities, includinggovernmental entities, seeking to enforce environmental statutes,ordinances, regulations, permits, or orders or assertingthird-party liability as defined below; without limiting thegenerality of the foregoing, a "third party" includes anybeneficiary of a trust held by a representative; and
(6) "Third-party liability", liability to third parties forany claims, fines, damages or penalties arising out of orresulting from contamination or pollution, including, withoutlimitations, claims for personal injury, consequential damages,lost profits, exemplary damages, or property damages or inconnection with the enforcement of environmental statutes,ordinances, regulations, permits or orders.
(L. 1991 S.B. 204, A.L. 1994 H.B. 1165)Effective 7-6-94