Missouri § 360.111 - School districts or public community colleges may participate in a direct deposit agreement — participation a waiver of right to bankruptcy.
Full text of Missouri Revised Statutes of Missouri § 360.111 — School districts or public community colleges may participate in a direct deposit agreement — participation a waiver of right to bankruptcy., with citation guidance and answers to common questions.
§ 360.111. School districts or public community colleges may participate in a direct deposit agreement — participation a waiver of right to bankruptcy.
Any school district or public community college which is not a participating district, as defined in section 360.106, with respect to a particular issue of its bonds, notes or other financial obligations may participate with the authority in a direct deposit agreement with respect to such issue of bonds, notes or other financial obligations. A direct deposit agreement under sections 360.111 to 360.118 shall satisfy all requirements of subsection 6 of section 360.106 with regard to funding agreements of participating districts, and such school district shall be subject to all requirements applicable to participating districts under subsections 6 and 9 of section 360.106 and shall have all powers granted to participating districts under subsection 6 of section 360.106. A direct deposit agreement under sections 360.111 to 360.118 shall include a complete waiver by the school district or public community college of all powers, rights and privileges conferred upon the school district or public community college to institute any action authorized by any act of the Congress of the United States relating to bankruptcy on the part of the school district or public community college. No school district or public community college shall be precluded from participation with the authority pursuant to section 360.106 with respect to any particular issue of bonds, notes or other financial obligations on the basis of the district's or college's participation with the authority in a direct deposit agreement pursuant to sections 360.111 to 360.118 with respect to any other issue of bonds, notes or other financial obligations.
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(L. 1995 S.B. 301 § 360.111 subsec. 1, A.L. 2002 H.B. 1477, et al. merged with S.B. 947)
---- end of effective 28 Aug 2002 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 360.111
What does Revised Statutes of Missouri § 360.111 cover?
Section 360.111 ("School districts or public community colleges may participate in a direct deposit agreement — participation a waiver of right to bankruptcy.") 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 § 360.111?
A common citation format is "Revised Statutes of Missouri § 360.111" (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 § 360.111 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.