HB 2560 -- Flood Insurance

Sponsor:  Aull

This bill establishes the Missouri Man-made Spring River Rise
Flood Insurance Authority within the Department of Insurance,
Financial Institutions, and Professional Registration for the
purpose of ensuring that all property owners in areas subject to
flooding due to man-made spring river rises have access to flood
insurance.  The authority will consist of seven members including
the department director and six members appointed by the Governor
with the advice and consent of the Senate.

The authority is authorized to adopt bylaws, conduct business,
issue bonds or other forms of indebtedness, collect reasonable
fees and charges necessary to make flood insurance policies
available, and invest moneys.  The authority must file an annual
report with the department director showing the previous year's
income, expenditures and bonds, or other forms of indebtedness
issued and outstanding.

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:12 pm