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