86.310. Ten percent may be kept in cash--maximum per depository. - Missouri Statutes

Ten percent may be kept in cash--maximum per depository.

86.310. For the purpose of meeting disbursements for benefits andother payments there may be kept available cash not exceeding ten percentof the total assets of the retirement system on deposit in one or morebanks or trust companies in said cities, organized under the laws of thestate of Missouri, or of the United States; provided, that the amount ondeposit in any one bank or trust company shall not exceed twenty-fivepercent 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