375.340. Sale and exchange of real estate. - Missouri Statutes

Sale and exchange of real estate.

375.340. 1. In all cases in which life insurance companies, benefitsocieties or other associations doing business in this state shall havelegally acquired by foreclosure or in payment of a debt previouslycontracted any real estate or personal property situated in this state orelsewhere, said company, society or association may upon the sale of saidproperty take in payment or part payment thereof the stocks or bonds of anycompany or corporation purchasing said property and may exchange any realestate acquired in foreclosure or in payment of debts, in whole or in part,for other real estate.

2. This section shall not apply to an insurer organized under chapter376, RSMo.

(RSMo 1939 § 6030, A.L. 1945 p. 1011, A.L. 2007 S.B. 66)

Prior revision: 1929 § 5919