|HB1045||ALLOWS COURTS TO INVEST CERTAIN TRUST FUNDS IN CREDIT UNIONS AND OTHER SECURE INVESTMENTS.|
|Sponsor:||Kennedy, Harry (66)||Effective Date:00/00/0000|
|Last Action:||COMMITTEE: SENATE FINANCIAL AND GOVERNMENTAL ORGANIZATION|
|04/19/1999 - Public Hearing Held (S)|
|Next Hearing:||Hearing not scheduled|
|Calendar:||Bill currently not on calendar|
|BILL SUMMARIES||BILL TEXT||FISCAL NOTES|
|HOUSE HOME PAGE||BILL SEARCH|
HB 1045 -- COURT FUNDS (Kennedy) This bill authorizes circuit courts to deposit funds in commercial paper, repurchase agreements, and municipal auction-- rate securities with appropriate credit quality restrictions. FISCAL NOTE: No impact on state funds.
HB 1045 -- COURT FUNDS SPONSOR: Kennedy COMMITTEE ACTION: Voted "do pass by consent" by the Committee on Banks and Financial Institutions by a vote of 15 to 0. This bill authorizes circuit courts to deposit funds in commercial paper, repurchase agreements, and municipal auction-- rate securities with appropriate credit quality restrictions. FISCAL NOTE: No impact on state funds. PROPONENTS: Supporters say that this bill allows circuit clerks to invest funds in the same manner as the State Treasurer, thereby getting a better return on investments. Testifying for the bill were Representative Kennedy; and Missouri Bankers Association. OPPONENTS: There was no opposition voiced to the committee. Bob Dominique, Legislative Analyst
HB 1045 -- Court Trust Funds Sponsor: Kennedy This bill allows courts to deposit trust funds in credit unions. Funds may be invested in accordance with the requirements for the State Treasurer within article IV, section 15 of the Missouri Constitution.
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Last Updated September 30, 1999 at 1:28 pm