Bill Text: MO HB1773 | 2012 | Regular Session | Introduced

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Bill Title: Specifies that the underwriter and the rating agency for any bond issued by a local government must investigate any company or project benefitting from the bond

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2012-02-27 - Public Hearing Completed (H) [HB1773 Detail]

Download: Missouri-2012-HB1773-Introduced.html

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SECOND REGULAR SESSION

HOUSE BILL NO. 1773

96TH GENERAL ASSEMBLY

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INTRODUCED BY REPRESENTATIVES BARNES (Sponsor), KELLY (24), LONG, ELLINGER, PARKINSON, SMITH (150), SOLON, FLANIGAN AND OXFORD (Co-sponsors).

5913L.01I                                                                                                                                                  D. ADAM CRUMBLISS, Chief Clerk

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AN ACT

To amend chapter 108, RSMo, by adding thereto one new section relating solely to due diligence duties of third-party professionals in municipal or local government appropriation bonds.

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Be it enacted by the General Assembly of the state of Missouri, as follows:

            Section A. Chapter 108, RSMo, is amended by adding thereto one new section, to be known as section 108.1100, to read as follows:

            108.1100. The underwriter and the rating agency for any bond issued by any municipal or local governing body shall have the professional duty to investigate the financial status and material business claims of any company or project for which such bond is issued and will benefit.

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