86.117. Ten percent of fund may be in available cash--how kept. - Missouri Statutes

Ten percent of fund may be in available cash--how kept.

86.117. For the purpose of meeting disbursements forpensions, annuities, and other payments, there may be keptavailable cash not exceeding ten percent of the total amount inthe several funds of the retirement system on deposit in one ormore banks or trust companies in said cities, organized under thelaws of the state of Missouri, or of the United States; provided,that the amount on deposit in any one bank or trust company shallnot exceed twenty-five percent of the paid up capital and surplusof such bank or trust company.

(RSMo 1939 § 9470)

Prior revision: 1929 § 8912