105.1006. Funds to be deposited in Missouri state employees voluntary life insurance fund--lapse into general revenue prohibited. - Missouri Statutes

Funds to be deposited in Missouri state employees voluntary lifeinsurance fund--lapse into general revenue prohibited.

105.1006. All funds withheld from employees of the state ofMissouri pursuant to section 105.1005 shall be transferred to thedirector of revenue for deposit in the state treasury to thecredit of the "Missouri State Employees Voluntary Life InsuranceFund", which is hereby created. The Missouri state employeesvoluntary life insurance fund shall be administered by theMissouri state employees voluntary life insurance commission, andthe moneys in the fund shall be used solely by the commission asprovided in sections 105.1000 to 105.1020, including thecontracts entered into with employees under section 105.1005.Notwithstanding the provisions of section 33.080, RSMo, to thecontrary, moneys in the Missouri state employees voluntary lifeinsurance fund at the end of any biennium shall not betransferred to the credit of the general revenue fund. Thecommission shall approve any voluntary life insurance agreemententered into by the state and shall oversee the orderlyadministration of the fund in compliance with sections 105.1000to 105.1020.

(L. 1993 H.B. 882 § 3 subsec. 1)