2011 Missouri Revised Statutes
TITLE XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380 County, Town and Farmers' Mutual Property Insurance Companies
Section 380.441. Liability of members--suspension of company liability during delinquency of members.


MO Rev Stat § 380.441. What's This?

Liability of members--suspension of company liability during delinquency of members.

380.441. Each member of any company operating under the provisions of sections 380.201 to 380.591 shall be liable in accordance with the terms of his insurance contract or policy for his pro rata share of the amount necessary to pay all losses and expenses incurred during the time for which his respective policy is in force, and to create and maintain such guaranty fund as may be deemed necessary by the directors of such company. A company may in its articles of incorporation or bylaws provide for the suspension of its liability for loss under any policy while an assessment payment is delinquent and the payment of such assessment shall reinstate such policy only from the date of the receipt of such payment but no deduction or credit shall be made in any assessment because of such suspension.

(L. 1984 H.B. 1498)

Effective 1-1-85

Annotation Copyright Missouri Joint Committee on Legislative Research

Disclaimer: These codes may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.