SB836 - Clarifies a not-for-profit statute that limits corporate distributions

SB 0836

Clarifies a not-for-profit statute that limits corporate distributions

Sponsor:	Mueller
LR Number:	3799S.01P	Fiscal Note:	3799-01
Committee:	Insurance and Housing
Last Action:	04/06/00 - Voted Do Pass H Civil & Administrative Law		Journal page:
	Committee
Title:
Effective Date:	August 28, 2000

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Current Bill Summary

SB 836 - This act clarifies a not-for-profit statute that limits corporate distributions. The current statute does not reference public corporations formed for self-insurance purposes. The provisions for those corporations are found in sovereign immunity statutes and do allow for certain distributions. This act would clarify that not-for-profit insurance companies established by political subdivisions may make distributions in conformity with Sections 537.020 and 537.635, RSMo.
STEPHEN WITTE