Missouri § 238.406 - Instruments issued by transit authority to be recognized as securities.
Full text of Missouri Revised Statutes of Missouri § 238.406 — Instruments issued by transit authority to be recognized as securities., with citation guidance and answers to common questions.
§ 238.406. Instruments issued by transit authority to be recognized as securities.
Any notes, bonds or other instruments in writing issued by a transit authority pursuant to the provisions of sections 238.400 to 238.412 are recognized to be securities in which all state and municipal officers and bodies, all banks, bankers, trust companies, savings banks, savings associations, building and loan associations, investment companies, and all other persons carrying on a banking business, all insurance companies, insurance associations, and other persons carrying on an insurance business, and all administrators, executors, guardians, trustees and other fiduciaries and all other persons whatsoever who are now or who may hereafter be authorized to invest in bonds or other obligations of the state of Missouri may properly and legally invest any funds, including capital, belonging to them, or within their control. Such obligations are recognized as securities which may properly and legally be deposited with and shall be received by any state or municipal officer or agency for any purpose for which the deposit of bonds or other obligations of this state is now or may hereafter be authorized.
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(L. 1991 S.B. 235 § 4)
---- end of effective 28 Aug 1991 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 238.406
What does Revised Statutes of Missouri § 238.406 cover?
Section 238.406 ("Instruments issued by transit authority to be recognized as securities.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 238.406?
A common citation format is "Revised Statutes of Missouri § 238.406" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 238.406 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.