87.275. Amount kept on deposit. — For the purpose of meeting disbursements for benefits and other payments there may be kept available cash not exceeding ten percent of the total amount in the several funds of the retirement system on deposit in one or more banks or trust companies in the city, organized under the laws of the state of Missouri, or of the United States. The amount on deposit in any one bank or trust company shall not exceed twenty-five percent of the paid up capital and surplus of the bank or trust company.
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(L. 1943 p. 708 § 7, A.L. 1959 S.B. 314 § 86.563)
---- end of effective 28 Aug 1959 ----
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