Bill
Bill > HB1058
MS HB1058
MS HB1058Trust fund; authorize hospitals to maintain fund consisting of commingled funds of other hospitals for necessary expenses.
summary
Introduced
02/14/2020
02/14/2020
In Committee
05/11/2020
05/11/2020
Crossed Over
03/04/2020
03/04/2020
Passed
Dead
06/09/2020
06/09/2020
Introduced Session
2020 Regular Session
Bill Summary
An Act To Amend Section 27-105-365, Mississippi Code Of 1972, To Authorize Hospitals To Maintain A Trust Fund Consisting Of Commingled Funds Of Other Hospitals That Do Not Share Common Ownership Or Management; To Prescribe What May Be Included In The Portfolio Of Such Trust Funds And The Maximum And Minimum Limitations Of Such Inclusion In Dollar Amount And Percentages; To Require The Entity Or Individual Responsible For Managing The Trust To Possess Trust Powers Or To Be Registered With The Securities And Exchange Commission; To Require The Investment Manager Of The Commingled Funds To Invest The Funds As A Fiduciary; And For Related Purposes.
AI Summary
This bill authorizes hospitals in Mississippi to maintain a trust fund consisting of commingled funds from other hospitals that do not share common ownership or management. The trust fund can invest in stocks, bonds, and other securities, with certain limitations on the types and amounts of investments. The trust fund must be managed by an entity with trust powers or an investment advisor registered with the Securities and Exchange Commission, and the investment manager must invest the funds as a fiduciary. The bill also provides other provisions related to the management and oversight of hospital funds.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Died In Committee (on 06/09/2020)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
Loading...