377.330. Proceeds not liable for debts. - Missouri Statutes

Proceeds not liable for debts.

377.330. The money or other benefit, charity, relief or aidto be paid, provided or rendered by any corporation authorized todo business under sections 377.200 to 377.460, shall not beliable to attachment or other process, and shall not be seized,taken, appropriated or applied by any legal or equitable process,nor by operation of law, to pay any debt or liability of a policyor certificate holder, or of any beneficiary named in a policy orcertificate.

(RSMo 1939 § 5883)

Prior revisions: 1929 § 5772; 1919 § 6182; 1909 § 6976

(1955) Where endowment life insurance contract at time of its assignment to insured's wife had cash surrender value exceeding income taxes due and where only two premiums remained to be paid, and where such premiums were later paid and policy matured, the proceeds thereof were subject to be seized for the enforcement of income tax liens. Reinicke v. Commr. of Internal Revenue, 220 F.2d 406.