SB 627 - This act provides that the University of Missouri shall enter into an agreement with the State Treasurer to establish a separate custodial account in which the moneys in the University's Seminary Fund shall be deposited and held. The University shall invest such moneys in government bonds as provided in current law, and may withdraw the earnings on such bonds and use any such withdrawals for the maintenance of the University, as provided in the act. The University shall provide financial reports on the custodial account to the State Treasurer no less often than annually. The act repeals provisions relating to the State Treasurer's current duties as custodian of the Seminary Fund.
OLIVIA SHANNON
Statutes affected: Introduced (2427S.01):
172.640,
172.650,
172.651,
172.660,
172.661,
172.680,
172.720
Senate Committee Minutes: SENATE COMMITTEE MINUTES Bill No.: SB 627
Sponsor: Webber
Hearing Date: 3/25/2025
COMMITTEE: Education
CHAIRMAN: Brattin
DATE REFERRED: 3/13/2025 DATE HEARING REQUESTED: 3/24/2025
STAFF:
Tom Estes
Heidi Kolkmeyer
Olivia Shannon
WITNESSES GIVING INFORMATION:
WITNESSES FOR:
Sarah Anderson - Missouri System
WITNESSES AGAINST: