375.520. Costs to be paid from deposits — amount.

156 words·~1 min read·/mo/chapter-375/375-520

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

375.520. Costs to be paid from deposits — amount. — 1. The deposits of a company shall be subject to or liable for the following costs only:

(1)The actual cost of collecting the deposits; and

(2)An amount not to exceed one percent of all policies proved up and allowed which amount shall be full compensation for the services of all actuaries, clerks or other persons employed or appointed by the director or the court in the adjusting and settling of policy claims.

2. The cost of collecting deposits shall be the amount actually paid out by the director and in no case shall exceed two and one-half percent of the amount collected. The director, subject to the approval of the court as to amount, shall pay such costs from the proceeds of the deposits.

--------

(RSMo 1939 § 6048, A. 1949 H.B. 2092)

Prior revisions: 1929 § 5937; 1919 § 6345; 1909 § 7075