379.270. Director may advance money. — 1. Any director, officer or member of any such company, or any other person, may advance to such company any sum or sums of money necessary for the purpose of its business or to enable it to comply with any of the requirements of the law, and such moneys and such interest thereon as may have been agreed upon, not exceeding ten percent per annum, shall be payable only out of the surplus remaining after providing for all reserves and other liabilities, and shall not otherwise be a liability or claim against the company or any of its assets.
2. No commission or promotion expenses shall be paid in connection with the advance of any such money to the company, and the amount of such advance shall be reported in each annual statement.
--------
(RSMo 1939 § 5963)
Prior revisions: 1929 § 5852; 1919 § 6262
---- end of effective 28 Aug 1939 ----
use this link to bookmark section 379.270
Effective dates prior to 1940 may not be the actual effective date. See FAQ 'When do laws become effective?'
|
|
|||
| Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law | |||
| In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. |
|
||
|
|
|||
| Recent Sections | Editorials | May Be Cited As | Tables & Forms | Multiple Enact |
| Repeal & Transfer | Definitions | End Report | ||
|
|
||||
| Site changes | Pictures | Contact | ||
| Legislative Research | Oversight | MOLIS | |||
| Library | MO WebMasters |
| Errors / suggestions - WebMaster@LR.mo.gov |
|
©Missouri Legislature, all rights reserved. | |||||||
|
|
|
|
|
|||||
