376.180. Certificates as to registration and reserves on policy — policies exempt, exceptions.

238 words·~1 min read·/mo/chapter-376/376-180

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

376.180. Certificates as to registration and reserves on policy — policies exempt, exceptions. — 1. After making the deposits mentioned in section 376.170 , the company shall issue its policies of insurance or annuity bonds and each policy may have set out in the body thereof the following: "This policy is registered and the net reserves secured by a pledge of bonds, deeds of trust on real estate and other securities deposited with the department of commerce and insurance of Missouri as required by section 376.170 , RSMo."

2. The company under the supervision of the director shall prepare and keep a permanent register thereof.

3. The provisions of this section pertaining to the registration of policies shall not apply to policies issued on the industrial or prudential plans except when such policies exceed one thousand dollars in amount, nor shall the provisions of this section apply to term policies of seven years or less and in amounts of ten thousand dollars or less, or to policies of group insurance or group annuity; except that nothing contained herein shall be deemed to prevent any policy from being registered hereunder, if the company issuing the policy shall so desire.

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(RSMo 1939 § 5816, A.L. 1951 p. 274, A.L. 1953 p. 241, A.L. 1961 p. 170, A.L. 1963 p. 491, A.L. 1967 p. 516, A.L. 1969 S.B. 63)

Prior revisions: 1929 § 5705; 1919 § 6116; 1909 § 6910