Missouri Revised Statutes













Chapter 67

Political Subdivisions, Miscellaneous Powers

←67.1645

Section 67.1648.1

67.1651→

August 28, 2015

Commission may suspend new registration if fund depleted--program debts not to be debts of other political subdivisions or the state.

67.1648. If the guarantee fund becomes depleted and payments of

guarantees pursuant to the program cannot be made in a timely fashion as

required by the program guidelines, the governing commission may temporarily

suspend the registration of new members and borrow funds against future tax

revenues until such time as the guarantee fund is sufficiently restored.

Under no circumstances shall the indebtedness or obligations of a program or

a governing commission become an indebtedness or obligation of either the

municipality or county in which the program is located or the state of

Missouri.



(L. 1999 S.B. 20)







Top



Missouri General Assembly



Copyright © Missouri Legislature, all rights reserved.