376.752. Member insurer's deposit with director, exemption from, amount. - Missouri Statutes

Member insurer's deposit with director, exemption from, amount.

376.752. Any member insurer organized under the provisionsof sections 376.010 to 376.670, or under any general or speciallaws of this state and transacting business of the characterdesignated in section 376.010, shall be exempt from theprovisions of section 376.170, relating to the amount requiredto be deposited with the director equal to the net value of allpolicies and annuity contracts; provided, however, that theextent of such exemption shall be eighty percent of such netvalue in the calendar year during which this act shall becomeeffective, increasing by five percent for each succeedingcalendar year until such exemption shall be equal to one hundredpercent of such net value.

(L. 1988 S.B. 430 § 33)