87.275. Amount kept on deposit. - Missouri Statutes

Amount kept on deposit.

87.275. For the purpose of meeting disbursements forbenefits and other payments there may be kept available cash notexceeding ten percent of the total amount in the several funds ofthe retirement system on deposit in one or more banks or trustcompanies in the city, organized under the laws of the state ofMissouri, or of the United States. The amount on deposit in anyone bank or trust company shall not exceed twenty-five percent ofthe paid up capital and surplus of the bank or trust company.

(L. 1943 p. 708 § 7, A.L. 1959 S.B. 314 § 86.563)