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MO HB1773

Bill

Official Source

Status

Introduced

2/20/2012

Primary Sponsor

Jason Barnes

Click for details

Origin

House of Representatives

2012 Regular Session

AI Summary

  • Amends Chapter 108, RSMo by adding Section 108.1100 relating to due diligence duties for municipal and local government appropriation bonds
  • Establishes a professional duty for bond underwriters to investigate the financial status and material business claims of any company or project benefitting from the bond
  • Establishes a professional duty for rating agencies to investigate the financial status and material business claims of any company or project benefitting from the bond
  • Applies to all bonds issued by any municipal or local governing body

Legislative Description

Specifies that the underwriter and the rating agency for any bond issued by a local government must investigate any company or project benefitting from the bond

Last Action

Public Hearing Completed (H)

2/27/2012

Full Bill Text

No bill text available