☰ Revisor of Missouri

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 374

< > Effective - 28 Aug 2003, 4 histories, see footnote (history) bottom

  374.150.  Fees paid to director of revenue, exception — department of insurance dedicated fund established, purpose — lapse into general revenue, when — one-time transfer of a portion of the balance in the fund, when. — 1. All fees due the state under the provisions of the insurance laws of this state shall be paid to the director of revenue and deposited in the state treasury to the credit of the insurance department fund unless otherwise provided for in subsection 2 of this section.

  2. There is hereby established in the state treasury a special fund to be known as the "Department of Insurance Dedicated Fund". The fund shall be subject to appropriation of the general assembly and shall be devoted solely to the payment of expenditures incurred by the department of insurance attributable to duties performed by the department as required by law which are not paid for by another source of funds. Other provisions of law to the contrary notwithstanding, beginning on January 1, 1991, all fees charged under any provision of chapter 325, 354, 374, 375, 376, 377, 378, 379, 380, 381, 382, 383, 384 or 385, RSMo, due the state shall be paid into this fund. The state treasurer shall invest moneys in this fund in the same manner as other state funds and any interest or earnings on such moneys shall be credited to the department of insurance dedicated fund. The provisions of section 33.080, RSMo, notwithstanding, moneys in the fund shall not lapse, be transferred to or placed to the credit of the general revenue fund unless and then only to the extent to which the unencumbered balance at the close of the biennium year exceeds two times the total amount appropriated, paid, or transferred to the fund during such fiscal year.

  3. Notwithstanding the provisions of this section to the contrary, fifty-five percent of the balance in the department of insurance dedicated fund as of the effective date of this act* or six million fifteen thousand eight hundred and fifty-five dollars, whichever is greater, shall be subject to an immediate one-time transfer to the state general revenue fund.

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(RSMo 1939 § 5786, A.L. 1945 p. 1018, A. 1949 H.B. 2115, A.L. 1990 H.B. 1739, A.L. 1991 H.B. 575, A.L. 2003 S.B. 675)

Prior revisions: 1929 § 5676; 1919 § 6087; 1909 § 6881

*This act (S.B. 675, 2003) contained an effective date of 1-1-04 for § 339.105; remainder of act became effective 8-28-03.


---- end of effective  28 Aug 2003 ----

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374.150 1/1/2019
374.150 7/5/2013 1/1/2019
374.150 8/28/2007 7/5/2013
374.150 8/28/2003 8/28/2007

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