Missouri Revised Statutes













Chapter 165

Budget and Current Financing

←165.181

Section 165.201.1

165.211→

August 28, 2015

Selection of depositaries in seven-director districts without advertising for bids--deposit to be secured.

165.201. If at the time bids should be received or the selection of

depositaries should be made in seven-director districts in accordance with

the provisions of sections 165.211 to 165.291, it is unlawful for banking

institutions to pay interest upon demand deposits, or if there is not a

sufficient number of bids submitted, the board may name depositaries of all

or any part, not less than one-sixteenth part thereof, of its funds, without

advertising for bids and without requiring the payment of any interest. Each

depositary selected within ten days after its selection in accordance with

the provisions of this section shall deposit securities required for the

deposit of school funds as provided in sections 110.010 and 110.020.



(L. 1963 p. 200 § 6-20)



(Source: RSMo 1959 § 165.427)







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