173.425. Assets not part of revenue — exclusive control of authority — student loan notes not public property. — No asset of the authority shall be considered to be part of the revenue of the state within the meaning of Article III, Section 36, of the Constitution of Missouri, and no asset of the authority shall be required to be deposited into the state treasury, and no asset of the authority shall be subject to appropriation by the general assembly, except for those amounts distributed by the authority to the Lewis and Clark discovery fund pursuant to subdivision (9) of subsection 1 of section 173.385. The assets of the authority shall remain under the exclusive control and management of the authority to be used as required pursuant to sections 173.350 to 173.450*, except for those amounts distributed by the authority to the Lewis and Clark discovery fund pursuant to subdivision (9) of subsection 1 of section 173.385. Student loan notes purchased or financed shall not be considered to be public property.
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(L. 1981 H.B. 326, A.L. 1994 S.B. 583, A.L. 2007 S.B. 389)
*Section 173.450 was repealed by H.B. 1456, 1988.
---- end of effective 28 Aug 2007 ----
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