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Title VII CITIES, TOWNS AND VILLAGES

  Chapter 96back to chapter 96

  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, may invest up to twenty-five percent of the hospital's funds not required for immediate disbursement in obligations or for the operation of the hospital in any United States investment grade fixed income funds or any diversified stock funds, or both.

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

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

  (2)  Receives less than one 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)


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