Effective - 28 Aug 1939
377.010. Assessment plan insurance defined. — Every contract whereby a benefit is to accrue to a person or persons named therein, upon the death or physical disability of a person also named therein, the payment of which said benefit is in any manner or degree dependent upon the collection of an assessment upon persons holding similar contracts, shall be deemed a contract of insurance upon the assessment plan, and the business involving the issuance of such contracts shall be carried on in this state only by duly organized corporations which shall be subject to the provisions and requirements of sections 377.010 to 377.190.
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(RSMo 1939 § 5856)
Prior revisions: 1929 § 5745; 1919 § 6155; 1909 § 6950
Structure Missouri Revised Statutes
Title XXIV - Business and Financial Institutions
Chapter 377 - Assessment Plan and Stipulated Premium Plan Life Insurance
Section 377.005 - Definitions.
Section 377.010 - Assessment plan insurance defined.
Section 377.020 - Incorporation of companies, procedure.
Section 377.030 - Release of beneficiary fund — replacement — exemptions.
Section 377.040 - Qualifications to do business.
Section 377.050 - Emergency fund — accumulation — purpose — replacement.
Section 377.060 - Policy to specify amount to be paid, when payable.
Section 377.070 - Effect of refusal to pay — duty of director.
Section 377.090 - Proceeds not liable for debts.
Section 377.100 - Statement of affairs.
Section 377.120 - Two-thirds majority to reinsure or transfer risks.
Section 377.150 - Retaliatory section.
Section 377.160 - Deposit for costs and expenses.
Section 377.180 - Not applicable to fraternal societies.
Section 377.190 - Penalty for false statement.
Section 377.199 - No companies formed under sections 377.200 to 377.460 after August 29, 1959.
Section 377.200 - Stipulated premium companies defined — penalty for unlawful use of term.
Section 377.210 - Organization — powers.
Section 377.220 - Articles of agreement — approval — filing — issuance of certificate.
Section 377.230 - Completion of organization.
Section 377.240 - Withdrawals of securities upon relinquishment of business.
Section 377.250 - Minimum premiums.
Section 377.260 - Emergency fund — extra premium — commutation of policies.
Section 377.270 - Limited payment policies — reserve — deposit.
Section 377.280 - Surrender values.
Section 377.290 - Distribution of surplus.
Section 377.300 - Policy to specify amount to be paid — effect of refusal to pay.
Section 377.320 - Policy incontestable after one year.
Section 377.330 - Proceeds not liable for debts.
Section 377.340 - Misrepresentations.
Section 377.350 - Copy of application.
Section 377.360 - Discriminations prohibited — duty of director and attorney general.
Section 377.370 - Personal liability.
Section 377.380 - Annual report.
Section 377.400 - Reinsurance and reinstatement.
Section 377.420 - Retaliatory section.
Section 377.430 - Requirements for foreign corporations — tax on premiums.
Section 377.450 - Acceptance of provisions of regular life law — not to affect past contracts.