376.240. Deposits to be held in trust by director. - Missouri Statutes

State Codes and Statutes

Statutes > Missouri > T24 > C376 > 376_240

Deposits to be held in trust by director.

376.240. The securities deposited under the provisions of section376.170 shall be legally transferred to the director of the department ofinsurance, financial institutions and professional registration, and so largean amount thereof as may be necessary to equal, at all times, the net value ofthe outstanding registered policies and annuity bonds, less such liens notexceeding such value as the company may hold against them, shall be held byhim in trust for the purposes of sections 376.010 to 376.670, until theobligations of said companies, under said registered policies and annuitybonds shall, to the satisfaction of the said director, be fully liquidated,canceled or annulled.

(RSMo 1939 § 5824)
Prior revisions: 1929 § 5713; 1919 § 6124; 1909 § 6918

State Codes and Statutes

Statutes > Missouri > T24 > C376 > 376_240

Deposits to be held in trust by director.

376.240. The securities deposited under the provisions of section376.170 shall be legally transferred to the director of the department ofinsurance, financial institutions and professional registration, and so largean amount thereof as may be necessary to equal, at all times, the net value ofthe outstanding registered policies and annuity bonds, less such liens notexceeding such value as the company may hold against them, shall be held byhim in trust for the purposes of sections 376.010 to 376.670, until theobligations of said companies, under said registered policies and annuitybonds shall, to the satisfaction of the said director, be fully liquidated,canceled or annulled.

(RSMo 1939 § 5824)
Prior revisions: 1929 § 5713; 1919 § 6124; 1909 § 6918

State Codes and Statutes

Back To Homepage

State Codes and Statutes

Statutes > Missouri > T24 > C376 > 376_240

Deposits to be held in trust by director.

376.240. The securities deposited under the provisions of section376.170 shall be legally transferred to the director of the department ofinsurance, financial institutions and professional registration, and so largean amount thereof as may be necessary to equal, at all times, the net value ofthe outstanding registered policies and annuity bonds, less such liens notexceeding such value as the company may hold against them, shall be held byhim in trust for the purposes of sections 376.010 to 376.670, until theobligations of said companies, under said registered policies and annuitybonds shall, to the satisfaction of the said director, be fully liquidated,canceled or annulled.

(RSMo 1939 § 5824)
Prior revisions: 1929 § 5713; 1919 § 6124; 1909 § 6918