375.530. Accounting among beneficiaries of foreign deposits. - Missouri Statutes

Accounting among beneficiaries of foreign deposits.

375.530. If any company of this state shall, under therequirements of any law of another state or foreign government,have on deposit in such other state or foreign governmentsecurities upon which the citizens or residents of such state orgovernment have, by virtue of its laws, a lien, claim or right,prior or superior to that of the citizens or residents of otherstates, then no citizen or resident of the state or country inwhich such deposit is held shall be entitled to share in thedistribution of the proceeds of the deposits or other assets inthis state, until the amount deposited in such other state orcountry shall be deducted from the claims of the persons who bythe laws of such state or country hold such prior or superiorlien, and until the other policy claimants and creditors of saidcompany shall have received from the proceeds of deposits orother assets an equal percent upon their claims.

(RSMo 1939 § 6049)

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