2017 Missouri Revised Statutes
Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 377 Assessment Plan and Stipulated Premium Plan Life Insurance
Section 377.400 Reinsurance and reinstatement.
Effective 28 Aug 1939
Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 377377.400. Reinsurance and reinstatement. — No stipulated premium life insurance company or association organized under sections 377.200 to 377.460 shall consolidate with another company or transfer or reinsure its risks with any other company or association or assume or reinstate the whole or any part of the risks of any other company or association, except with the approval of a majority of the policy or stockholders present and voting at a regular or special meeting duly called; provided, however, that any such company may reinsure a fractional part of any single risk, but no such insurance shall in any manner release the company or association from its obligation under contract with the policyholder. All such reinsurance shall be reported annually to the director of the department of insurance, financial institutions and professional registration.
(RSMo 1939 § 5881)
Prior revisions: 1929 § 5770; 1919 § 6180; 1909 § 6974
