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MO SB753
Bill
AI Summary
- Repeals and replaces section 214.160, RSMo, regarding investment of cemetery trust funds
- Permits county commissions to invest or loan cemetery trust funds in United States government bonds, state bonds, county bonds, municipal bonds, certificates of deposit, first real estate mortgages, or deeds of trust
- Removes the previous prohibition on certificates of deposit as an investment option for these funds
- Requires net income from trust funds to be used to support, maintain, and beautify public or private cemeteries as designated by the gift or bequest creator
- Mandates that county commissions follow the expressed wishes of the trust fund creator when maintaining or supporting cemeteries
Legislative Description
Allows county commissions to invest cemetery trust funds in certificates of deposit
Last Action
Signed by Governor
7/2/2010
Committee Referrals
Financial Institutions4/20/2010
Jobs, Economic Development And Local Government1/19/2010
Full Bill Text
No bill text available