376.590. Misrepresentations, false estimates and circulars prohibited--agents--notes to be held until policy delivered. - Missouri Statutes

Misrepresentations, false estimates and circularsprohibited--agents--notes to be held until policy delivered.

376.590. 1. No life insurance company doing business inthis state, and no officer, director, or agent thereof, shallissue or circulate, or cause or permit to be issued orcirculated, any estimate, illustration, circular or statement ofany sort misrepresenting the terms of any policy issued by it orthe benefits or advantages promised thereby, or the dividends orshares of surplus to be received thereon, or shall use any nameor title of any policy or class of policies misrepresenting thetrue nature thereof.

2. Any person who shall solicit an application for insuranceupon the life of another shall, in any controversy between theassured or his beneficiary and the company issuing any policyupon such application, be regarded as the agent of the companyand not the agent of the assured, nor shall any life insurancecompany or agent sell, discount or otherwise dispose of any noteor notes taken for payment of life insurance premium or premiums,before delivering to the applicant, in person, the policy forwhich said note or notes shall have been given.

(RSMo 1939 § 5844)

Prior revisions: 1929 § 5733; 1919 § 6143; 1909 § 6938