2014 Missouri Revised Statutes
TITLE XI EDUCATION AND LIBRARIES (160-186)
Chapter 168 Personnel--Teachers and Others
Section 168.580 (Repealed L. 2012 H.B. 1608 § A)
168.580. 1. The "Missouri Prospective Teacher Loan Fund" is established and shall consist of money appropriated to it by the general assembly and charges, gifts, grants and bequests from federal, private and other sources made for the purpose of assisting eligible students in financing their education in order to become teachers. Any unexpended balance in the fund at the end of the fiscal year shall be exempt from the provisions of section 33.080 relating to the transfer of unexpended balances to the general revenue fund.
2. All moneys recovered for payments shall be paid promptly into the state treasury and credited to the fund.
3. Moneys in the Missouri prospective teacher loan fund shall be invested by the state treasurer in the same deposits and obligations in which state funds are authorized by law to be invested; except that, the income accruing from such funds shall be credited to the Missouri prospective teacher loan fund on an annual basis.
4. The fund shall be administered by the department of higher education at the direction of the coordinating board.
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