Missouri § 246.165 Investment of surplus funds, when — approved investments.

Missouri Statutes

§ 246.165 — Investment of surplus funds, when — approved investments.

Missouri § 246.165

Title XVLANDS, LEVEES, DRAINAGE, SEWERS AND PUBLIC WATER SUPPLY

Ch. 246Provisions Relating to All Drainage and Levee Districts

This text of Missouri § 246.165 (Investment of surplus funds, when — approved investments.) is published on Counsel Stack Legal Research, covering Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mo. Rev. Stat. § 246.165 (2026).

Text

1. Any drainage or levee district organized under any law of this state may invest any funds not immediately needed for the purpose for which the money was received in the following:

(1)Bonds, notes or certificates of indebtedness which are direct obligations of the United States or bonds or other indebtedness, the principal and interest of which are unconditionally guaranteed by the United States;

(2)Accounts of any savings and loan association organized under the laws of this state or another state, or the United States, which holds a certificate of insurance from the Federal Savings and Loan Insurance Corporation;

(3)Savings accounts and time deposits, including time certificates of deposit in any banking institution which holds a certificate of insurance from the Federal Depo

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1. Any drainage or levee district organized under any law of this state may invest any funds not immediately needed for the purpose for which the money was received in the following:

(1) Bonds, notes or certificates of indebtedness which are direct obligations of the United States or bonds or other indebtedness, the principal and interest of which are unconditionally guaranteed by the United States;

(2) Accounts of any savings and loan association organized under the laws of this state or another state, or the United States, which holds a certificate of insurance from the Federal Savings and Loan Insurance Corporation;

(3) Savings accounts and time deposits, including time certificates of deposit in any banking institution which holds a certificate of insurance from the Federal Deposit Insurance Corporation.

2. If a deposit in a savings and loan association or a banking institution is greater than the amount covered by the insurance provided for the account by the Federal Savings and Loan Insurance Corporation or the Federal Deposit Insurance Corporation, as the case may be, that portion of the deposit in excess of the amount covered by insurance shall be secured as provided by the provisions of sections 110.010 and 110.020 .

Legislative History

(L. 1971 H.B. 139 § 1) Bi-state development agency, bonds of, investment in authorized, 70.377 Multinational banks, securities and obligations of, investment in, when, 409.950 Savings accounts in insured savings and loan associations, investment in authorized, 369.194