Missouri § 108.518 - Extension procedure — time authorized — bonds not issued, expire when.

§ 108.518. Extension procedure — time authorized — bonds not issued, expire when.

1.  For good cause shown, an issuer may request an extension of the expiration date of an approved allocation by filing a written notice for extension with the director, which request must be received by the director not less than five days prior to the expiration of the initial period specified by the director pursuant to section 108.512.  In such instances, the director may, in his discretion, approve an extension for a period ending on the earliest of:

(1)  11:59 p.m. central standard time on the date which is thirty days beyond the initial expiration date specified by the director pursuant to section 108.512 hereof;

(2)  The date upon which such approved allocation is voluntarily surrendered to the director by the issuer; or

(3)  11:59 p.m. central standard time on December eighteenth of such year.

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2.  Notwithstanding any other provision of sections 108.500 to 108.532, if an approved allocation or extension thereof expires on December eighteenth of such year in accordance with the provisions of section 108.512 or subsection 1 of this section, the director, in his discretion, may grant an extension or further extension for a period ending not later than 11:59 p.m.  central standard time on December thirty-first of such year.

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(L. 1987 S.B. 351 §§ 108.511, 108.513)

Effective 1-1-88

---- end of effective  01 Jan 1988 ----

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