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MO SB151
Bill
Status
Introduced
1/20/2011
Primary Sponsor
Victor Callahan
Click for details
AI Summary
- Repeals and re-enacts section 537.620, RSMo, to clarify insurance acquisition rules for political subdivision syndicates
- Allows three or more Missouri political subdivisions to form a business entity to provide liability and other insurance, including coverage for elderly or low-income housing
- Permits public governmental bodies, quasi-public governmental bodies, and political subdivisions from Missouri or other states to join the entity and use public funds for assessments
- Exempts risk coverages procured through such entities from competitive bidding requirements that normally apply to public fund expenditures
- Subject entities remain under regulation by the director of the department of insurance, financial institutions and professional registration
Legislative Description
Specifies that risk coverages procured by certain political subdivision associations shall not require the solicitation of competitive bids
Last Action
Voted Do Pass S Jobs, Economic Development and Local Government Committee
4/20/2011
Committee Referrals
Jobs, Economic Development And Local Government1/27/2011
Full Bill Text
No bill text available