Missouri Revised Statutes













Chapter 108

Bond Issues, Miscellaneous Provisions

←108.280

Section 108.290.1

108.300→

August 28, 2015

Registered bonds, lawful security.

108.290. Any and all bonds registered by the state auditor under the

provisions of the laws of this state, and any and all bonds that have been or

may be duly issued by any county or city or school district having a

population of over three hundred thousand inhabitants, whereon there is no

default in payment of principal or interest, may be accepted as good and

lawful security for the investment of the capital stock, surplus and reserve

funds of any insurance or fraternal benefit society incorporated in or

authorized to transact business in this state, or trust company authorized to

transact business in this state. The state director of the department of

insurance, financial institutions and professional registration is hereby

authorized to accept such bonds as security or pledge in all cases where such

pledge or security is required by the laws of this state. Such bonds may be

accepted by the state treasurer as security for the deposit of any and all

state funds, and by county and city treasurers as security for the deposit of

any and all county and city funds. They shall also be eligible for the

investment of any funds in the possession of any administrator, executor,

guardian, curator, trustee and all other persons sustaining fiduciary

relations. Such investments may be made without an order of court first had

and obtained, and without incurring liability for loss, except in case of

inexcusable negligence.



(RSMo 1939 § 3307, A.L. 1951 p. 798)



Prior revisions: 1929 § 2921; 1919 § 1069







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