375.460. 1. The director of the department of insurance, financialinstitutions and professional registration shall receive the deposits andsecurities required by law to be transferred to and deposited with him, andshall give vouchers for the same to the parties so depositing.
2. He shall at all times require each company to keep up its depositsaforesaid to the full actual value required by law.
3. It shall be the duty of the director of the department of insurance,financial institutions and professional registration, upon receipt ofsecurities from any insurance company, to forthwith deposit the same in thepresence of the president, vice president or authorized agent of the company,in a strong iron box, which shall require two distinct and different keys tounlock the same, one key to be kept by the director and the other by thecompany; and the box shall not be opened except in the presence of thedirector or deputy, and said president, vice president, or authorized agent ofthe company; provided, however, that in case the company having suchsecurities on deposit shall be adjudged insolvent, or be dissolved, or incases arising under section 375.490, the court shall make and enforce thenecessary orders to place said securities, or any part of them, at the soledisposal of the director.
4. The boxes shall be kept in the vault of the Safe Deposit Company ofSt. Louis, or other like depositary to be selected by said director, and theinsurance companies shall pay the several fees for the safekeeping of theirrespective boxes.
5. So long as any company so depositing shall continue solvent, thedirector shall permit such company to collect and receive the interest ordividends on its securities so deposited and transferred, and from time totime to withdraw any such securities on depositing other securities in thestead of those to be withdrawn, such new securities to be of the same valueand of the kinds required by law in the first instance.
6. The director shall not be subject to garnishment, attachment or anyother process or order in respect to such securities than by law provided.
375.460. 1. The director of the department of insurance, financialinstitutions and professional registration shall receive the deposits andsecurities required by law to be transferred to and deposited with him, andshall give vouchers for the same to the parties so depositing.
2. He shall at all times require each company to keep up its depositsaforesaid to the full actual value required by law.
3. It shall be the duty of the director of the department of insurance,financial institutions and professional registration, upon receipt ofsecurities from any insurance company, to forthwith deposit the same in thepresence of the president, vice president or authorized agent of the company,in a strong iron box, which shall require two distinct and different keys tounlock the same, one key to be kept by the director and the other by thecompany; and the box shall not be opened except in the presence of thedirector or deputy, and said president, vice president, or authorized agent ofthe company; provided, however, that in case the company having suchsecurities on deposit shall be adjudged insolvent, or be dissolved, or incases arising under section 375.490, the court shall make and enforce thenecessary orders to place said securities, or any part of them, at the soledisposal of the director.
4. The boxes shall be kept in the vault of the Safe Deposit Company ofSt. Louis, or other like depositary to be selected by said director, and theinsurance companies shall pay the several fees for the safekeeping of theirrespective boxes.
5. So long as any company so depositing shall continue solvent, thedirector shall permit such company to collect and receive the interest ordividends on its securities so deposited and transferred, and from time totime to withdraw any such securities on depositing other securities in thestead of those to be withdrawn, such new securities to be of the same valueand of the kinds required by law in the first instance.
6. The director shall not be subject to garnishment, attachment or anyother process or order in respect to such securities than by law provided.
375.460. 1. The director of the department of insurance, financialinstitutions and professional registration shall receive the deposits andsecurities required by law to be transferred to and deposited with him, andshall give vouchers for the same to the parties so depositing.
2. He shall at all times require each company to keep up its depositsaforesaid to the full actual value required by law.
3. It shall be the duty of the director of the department of insurance,financial institutions and professional registration, upon receipt ofsecurities from any insurance company, to forthwith deposit the same in thepresence of the president, vice president or authorized agent of the company,in a strong iron box, which shall require two distinct and different keys tounlock the same, one key to be kept by the director and the other by thecompany; and the box shall not be opened except in the presence of thedirector or deputy, and said president, vice president, or authorized agent ofthe company; provided, however, that in case the company having suchsecurities on deposit shall be adjudged insolvent, or be dissolved, or incases arising under section 375.490, the court shall make and enforce thenecessary orders to place said securities, or any part of them, at the soledisposal of the director.
4. The boxes shall be kept in the vault of the Safe Deposit Company ofSt. Louis, or other like depositary to be selected by said director, and theinsurance companies shall pay the several fees for the safekeeping of theirrespective boxes.
5. So long as any company so depositing shall continue solvent, thedirector shall permit such company to collect and receive the interest ordividends on its securities so deposited and transferred, and from time totime to withdraw any such securities on depositing other securities in thestead of those to be withdrawn, such new securities to be of the same valueand of the kinds required by law in the first instance.
6. The director shall not be subject to garnishment, attachment or anyother process or order in respect to such securities than by law provided.
