86.520. Board to have exclusive control and management of funds. - Missouri Statutes

Board to have exclusive control and management of funds.

86.520. The board shall have exclusive control andmanagement of funds created for the purpose herein and of allmoneys donated, paid or received for the relief or pensioning ofretired or disabled members of the police department, theirwidows and minor children, and may have an assessment from eachmember of at least five percent but not more than ten percent ofthe salary of such member, the contribution to be placed by thetreasurer to the credit of such fund, subject to the order of theboard. The percent rate shall not be changed without theaffirmative vote of a majority of the entire board.

(RSMo 1939 § 9479, A.L. 1947 V. II p. 327, A.L. 1953 p. 300 § 86.340, A.L. 1979 H.B. 850)

Prior revision: 1929 § 8921

Effective 8-1-79