Ten percent of fund may be in available cash — how kept.

1. Law
2. Missouri Revised Statutes
3. Cities, Towns and Villages
4. Police Relief and Pension Systems
5. Ten percent of fund may be in available cash — how kept.

Effective - 28 Aug 1939

86.117. Ten percent of fund may be in available cash — how kept. — For the purpose of meeting disbursements for pensions, annuities, and other payments, there may be kept available cash not exceeding ten percent of the total amount in the several funds of the retirement system on deposit in one or more banks or trust companies in said cities, organized under the laws of the state of Missouri, or of the United States; provided, that the amount on deposit in any one bank or trust company shall not exceed twenty-five percent of the paid up capital and surplus of such bank or trust company.

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(RSMo 1939 § 9470)

Prior revision: 1929 § 8912

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