MS HB1230

Authorizes Mississippi governmental hospitals to maintain trust funds consisting of commingled funds from at least three other governmental hospitals that do not share common ownership or management.

Permits trust fund portfolios to include stocks (common and preferred), convertible securities, and investment companies, with a maximum of 30% investment per hospital and 3% maximum per corporation.

Requires stocks held in trust funds to be listed on national exchanges with corporations having a minimum market value of $250 million, and limits any single corporation's shares to 5% of outstanding stock.

Mandates trust fund management by entities with trust powers or investment advisers registered with the Securities and Exchange Commission, who must invest funds as a fiduciary and maintain separate accounting for each hospital's investments.

Takes effect July 1, 2019.