2017 Missouri Revised Statutes
Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 354 Health Services Corporations — Health Maintenance Organizations — Prepaid Dental Plans
Section 354.315 Data processing system authorized, cost, amount allowed — amortization not to exceed ten years.

Universal Citation: MO Rev Stat § 354.315 (2017)

Effective 28 Aug 1983

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

Chapter 354

354.315. Data processing system authorized, cost, amount allowed — amortization not to exceed ten years. — Notwithstanding any prohibitions or restrictions contained in the statutes, any corporation subject to the provisions of sections 354.010 to 354.380 may acquire by purchase electronic or mechanical machines constituting a data processing system, and thereafter may hold the system as an admitted asset for use in connection with the business of the company if

(1) The system shall have an aggregate cost of not less than twenty-five thousand dollars and its aggregate cost shall not exceed five percent of the admitted assets of the company;

(2) The cost of the component machines constituting the system shall be fully amortized over a period not to exceed ten calendar years. If a data processing system consists of separate component machines which are acquired at different times, then the cost of each component shall be fully amortized over a period not to exceed ten calendar years commencing with the date of acquisition of each component.

(L. 1983 H.B. 127)

Disclaimer: These codes may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.