Section 205.165

Title XII PUBLIC HEALTH AND WELFARE

Chapter 205

Effective - 28 Aug 2024, 2 histories   

  205.165.  Investment of moneys in an investment company, when. — 1.  The board of trustees of any hospital authorized under this subsection and organized under the provisions of sections 205.160 to 205.340 may invest its funds not required for immediate disbursement in obligations or for the operation of the hospital as follows:

  (1)  Up to fifteen percent of such funds into:

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

  (b)  Stocks;

  (c)  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;

  (d)  Money-market investments; or

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

  (2)  Up to thirty-five percent of such funds into:

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

  (b)  Bonds that meet the rating and maturity requirements of paragraph (c) of subdivision (1) of this subsection;

  (c)  Money-market investments; or

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

  (3)  The remaining percentage into any investment in which the state treasurer is allowed to invest.

  2.  The provisions of this section shall only apply if the hospital receives less than three percent of its annual revenues from county or state taxes.

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(L. 2016 S.B. 988, A.L. 2024 S.B. 1359)