1. There is hereby created the “Missouri Public Entity Risk Management Fund”, which shall be a body corporate and politic. The board of trustees of this fund shall have the powers and duties specified in sections 537.700 to 537.755 and such other powers as may be necessary or proper to enable it, its officers, employees and agents to carry out fully and effectively all the purposes of sections 537.700 to 537.755.

2. Unless otherwise clearly indicated by the context, the following words and terms as used in sections 537.700 to 537.755 mean:

Terms Used In Missouri Laws 537.700

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020

(1) “Board”, the board of trustees of the Missouri public entity risk management fund;

(2) “Fund”, the Missouri public entity risk management fund established by subsection 1 of this section;

(3) “Public entity”, any city, county, township, village, town, municipal corporation, school district, special purpose or taxing district, or any other local public body created by the general assembly.

3. Any public entity may participate in the Missouri public entity risk management fund and use public funds to pay any assessment made in conjunction with the fund.

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