A municipal advisor shall not be allowed to profit financially or otherwise, either directly or indirectly, from the underwriter of a negotiated bond issuance.
For the purposes of this subsection, "independent" shall have the same meaning as defined by the rules of the United States Securities and Exchange Commission. In determining the individuals or entities that may serve as a municipal advisor, nothing in this section shall be construed to be more restrictive than the definition of a municipal advisor as established by the United States Securities and Exchange Commission.
§ 108.170, RSMo
RSMo 1939 § 3311, A.L. 1965 p. 232, A.L. 1969 1st Ex. Sess. H.B. 2, A.L. 1969 3rd Ex. Sess. H.B. 26, A.L. 1969 4th Ex. Sess. S.B. 8, A.L. 1976 S.B. 778, A.L. 1980 H.B. 1582 & 1277, A.L. 1983 S.B. 181, A.L. 1985 S.B. 140, A.L. 1993 H.B. 685, A.L. 1993 H.B. 566, A.L. 2007 S.B. 22, A.L. 2017 S.B. 111