FIRST REGULAR SESSION
[P E R F E C T E D]
SENATE BILL NO. 28
90TH GENERAL ASSEMBLY
INTRODUCED BY SENATOR MUELLER.
Pre-filed December 1, 1998, and 1,000 copies ordered printed.
Read 2nd time January 12, 1999, and referred to the Committee on Insurance and Housing.
Reported from the Committee February 9, 1999, with recommendation that the bill do pass and be placed on the Consent Calendar.
Taken up February 23, 1999. Read 3rd time and placed upon its final passage; bill passed.
TERRY L. SPIELER, Secretary.
L0088.01P
AN ACT
To repeal section 537.620, RSMo 1994, relating to certain insurance for political subdivisions, and to enact in lieu thereof one new section relating to the same subject.
Be it enacted by the General Assembly of the State of Missouri, as follows:
Section A. Section 537.620, RSMo 1994, is repealed and one new section enacted in lieu thereof, to be known as section 537.620, to read as follows:
537.620. Notwithstanding any direct or implied prohibitions in chapter 375, RSMo, 377, RSMo, or 379, RSMo, any three or more political subdivisions of this state may form a business entity for the purpose of providing liability and all other insurance, including insurance for elderly or low-income housing in which the political subdivision has an insurable interest, for any of the subdivisions upon the assessment plan as provided in sections 537.600 to 537.650. Any political subdivision may join this entity and use public funds to pay any necessary assessments.