2011 Missouri Revised Statutes
TITLE VII CITIES, TOWNS AND VILLAGES
Chapter 86 Police Relief and Pension Systems
Section 86.310. Ten percent may be kept in cash--maximum per depository.
Ten percent may be kept in cash--maximum per depository.
86.310. For the purpose of meeting disbursements for benefits and other payments there may be kept available cash not exceeding ten percent of the total assets of the retirement system on deposit in one or more banks or trust companies in said cities, organized under the laws of the state of Missouri, or of the United States; provided, that the amount on deposit in any one bank or trust company shall not exceed twenty-five percent of the paid-up capital and surplus of such bank or trust company.
(L. 1957 p. 256 33, A.L. 2000 H.B. 1808)Effective 7-1-00
Annotation Copyright Missouri Joint Committee on Legislative Research
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