537.750. Exhaustion of fund, claims to be prorated. - Missouri Statutes

Exhaustion of fund, claims to be prorated.

537.750. 1. If the fund will be exhausted by the payment ofall judgments and claims allowed during a particular fiscal year,amounts paid to each claimant or person obtaining a judgmentshall be prorated, with each person receiving an amount equal tothe percentage his own payment bears to the total of claims andjudgments outstanding and payable from the fund. Any amounts dueand unpaid as a result of such proration shall be paid in thefollowing fiscal year.

2. If, at the end of any fiscal year, the fund has a balanceexceeding projected needs, and adequate reserves, the board mayin its discretion refund on a pro rata basis to all participatingpublic entities an amount based on the contributions of thepublic entity for the immediately preceding year.

(L. 1986 H.B. 1435 & 1461)

Effective 6-20-86