Section 96.192

There are multiple enactments of 96.192

Title VII CITIES, TOWNS AND VILLAGES

Chapter 96

Effective - 28 Aug 2026, 2 histories, see footnote   

  96.192.  Investment of hospital funds, limitations. — 1.  The board of trustees of any hospital authorized under subsection 2 of this section, and established and organized under the provisions of sections 96.150 to 96.229:

  (1)  May invest up to fifty percent of the hospital's "available funds", defined in this section as funds not required for immediate disbursement in obligations or for the operation of the hospital, into:

  (a)  Any mutual funds that invest in stocks, bonds, or real estate, or any combination thereof;

  (b)  Bonds that have:

  a.  One of the five highest long-term ratings or the highest short-term rating issued by a nationally recognized rating agency; and

  b.  A final maturity of ten years or less;

  (c)  Money market investments; or

  (d)  Any combination of investments described in paragraphs (a) to (c) of this subdivision; and

  (2)  Shall invest the remaining percentage of any available funds not invested as allowed under subdivision (1) of this subsection into any investment in which the state treasurer is allowed to invest.

  2.  The provisions of this section shall only apply if the hospital:

  (1)  Receives less than three percent of its annual revenues from municipal, county, or state taxes; and

  (2)  Receives less than three percent of its annual revenue from appropriated funds from the municipality in which such hospital is located.

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(L. 2016 S.B. 635 merged with S.B. 988, A.L. 2026 H.B. 2372 merged with S.B. 1019)