Section 87.260

Title VII CITIES, TOWNS AND VILLAGES

Chapter 87

Effective - 28 Sep 1979, 2 histories, see footnote   (history) 

  87.260.  Board of trustees shall have charge of several funds — may invest and reinvest. — Notwithstanding any other provisions of law to the contrary, the board of trustees shall be the trustees of the several funds created by sections 87.120 to 87.370 and shall have full power to invest and reinvest the funds in

  (1) Bonds of the United States government, general obligation bonds of the state of Missouri and of any political subdivision of Missouri, including school districts;

  (2) Savings and loan associations;

  (3) Corporate bonds;

  (4) Common and preferred stocks of corporations;

  (5) Investment trust shares;

  (6) Real estate mortgages only in Missouri; and

  (7) Commercial banks and trust companies.

­

No trustee or member of the retirement system shall have any direct interest in the gains or profits made by the retirement board on any investment, nor, as such, shall receive any compensation for his service.

­­--------

(L. 1943 p. 708 § 7, A.L. 1959 S.B. 314 § 86.560, A.L. 1979 S.B. 280)

CROSS REFERENCE:

Multinational banks, securities and obligations of, investment in, when, RSMo 409.950