379.700. Reserves required. - Missouri Statutes

Reserves required.

379.700. There shall be maintained at all times assets incash or securities authorized by the laws of the state in whichthe principal office of the attorney is located for theinvestment of similar funds of insurance companies doing the samekind of business in* an amount equal to fifty percent of the netannual advance premiums or deposits collected and credited to theaccounts of subscribers on policies having one year or less torun and pro rata on those for longer periods; or, in lieuthereof, one hundred percent of the net unearned premiums ordeposits collected and credited to the accounts of subscribers,which assets shall not be charged as a liability.

(RSMo 1939 § 6083, A. 1949 H.B. 2092, A.L. 1967 p. 516)

Prior revisions: 1929 § 5971; 1919 § 6379

*Word "in" not in original rolls.