2018 Missouri Revised Statutes
Title XXIV - Business and Financial Institutions
Chapter 377 - Assessment Plan and Stipulated Premium Plan Life Insurance
Section 377.330 Proceeds not liable for debts.
Effective 28 Aug 1939
Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 377377.330. Proceeds not liable for debts. — The money or other benefit, charity, relief or aid to be paid, provided or rendered by any corporation authorized to do business under sections 377.200 to 377.460, shall not be liable to attachment or other process, and shall not be seized, taken, appropriated or applied by any legal or equitable process, nor by operation of law, to pay any debt or liability of a policy or certificate holder, or of any beneficiary named in a policy or certificate.
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(RSMo 1939 § 5883)
Prior revisions: 1929 § 5772; 1919 § 6182; 1909 § 6976
(1955) Where endowment life insurance contract at time of its assignment to insured's wife had cash surrender value exceeding income taxes due and where only two premiums remained to be paid, and where such premiums were later paid and policy matured, the proceeds thereof were subject to be seized for the enforcement of income tax liens. Reinicke v. Commr. of Internal Revenue, 220 F.2d 406.
