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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 379

Effective - 28 Aug 1939 bottom

  379.595.  Additional requirements of articles of association. — 1.  If such company be a stock company, then the articles of association shall set forth, in addition to the requirements of section 379.590, the amount of capital stock, the number of shares in which it shall have been divided, and the amount which has been paid upon each share, and if the capital stock is less than that required by general statutes, it shall be increased to at least that amount.

  2.  If such company be a mutual company, its articles of association shall set forth, in addition to what is required by section 379.590, the number of policyholders, the amount of premium notes, their face value, the amount of assessments paid thereon, and in all cases the amount of cash and other assets, itemized, held and owned by such company; provided, that the aggregate amount of the assets shall not be of less value than required by new companies organizing under the insurance statutes of this state concerning mutual companies.

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(RSMo 1939 § 5943)

Prior revisions: 1929 § 5832; 1919 § 6242; 1909 § 7033


---- end of effective   28 Aug 1939 ----

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