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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

  Chapter 375back to chapter 375

  375.530.  Accounting among beneficiaries of foreign deposits. — If any company of this state shall, under the requirements of any law of another state or foreign government, have on deposit in such other state or foreign government securities upon which the citizens or residents of such state or government have, by virtue of its laws, a lien, claim or right, prior or superior to that of the citizens or residents of other states, then no citizen or resident of the state or country in which such deposit is held shall be entitled to share in the distribution of the proceeds of the deposits or other assets in this state, until the amount deposited in such other state or country shall be deducted from the claims of the persons who by the laws of such state or country hold such prior or superior lien, and until the other policy claimants and creditors of said company shall have received from the proceeds of deposits or other assets an equal percent upon their claims.

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(RSMo 1939 § 6049)

Prior revisions: 1929 § 5938; 1919 § 6346; 1909 § 7076


< end of effective 28 Aug 1939 >

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