376.200. Definition of net value. - Missouri Statutes

Definition of net value.

376.200. The term "net value" of any such registered policyor annuity bond as used in sections 376.010 to 376.670 shall bethe total of the various reserve values thereof as defined bysection 376.370, as same now is or as same may be subsequentlyamended, less the reserve on the reinsurance policy covering thatportion of said policies or annuity bonds reinsured in othersolvent companies organized or doing business under theprovisions of sections 376.010 to 376.670 and less the sum of anypolicy loans and liens, premium notes and net uncollected anddeferred premiums; provided, that the sum of said policy loans,liens, premium notes, and net uncollected and deferred premiumsshall not exceed the reserve of such registered policy or annuitybond exclusive of the reserve required for total and permanentdisability benefits, additional accidental death benefits andunpaid dividends.

(RSMo 1939 § 5818)