Revisor Home

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 379

previous next Effective - 28 Aug 1939bottom

  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?'


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. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions

Site changes Contact
Other Links
Oversight Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House

@09:24:09.2 27