537.065. Claimant and tort-feasor may contract to limit recovery to specified assets or insurance contract--effect. - Missouri Statutes

Claimant and tort-feasor may contract to limit recovery to specifiedassets or insurance contract--effect.

537.065. Any person having an unliquidated claim for damagesagainst a tort-feasor, on account of bodily injuries or death,may enter into a contract with such tort-feasor or any insurer inhis behalf or both, whereby, in consideration of the payment of aspecified amount, the person asserting the claim agrees that inthe event of a judgment against the tort-feasor, neither he norany person, firm or corporation claiming by or through him willlevy execution, by garnishment or as otherwise provided by law,except against the specific assets listed in the contract andexcept against any insurer which insures the legal liability ofthe tort-feasor for such damage and which insurer is not exceptedfrom execution, garnishment or other legal procedure by suchcontract. Execution or garnishment proceedings in aid thereofshall lie only as to assets of the tort-feasor specificallymentioned in the contract or the insurer or insurers not excludedin such contract. Such contract, when properly acknowledged bythe parties thereto, may be recorded in the office of therecorder of deeds in any county where a judgment may be rendered,or in the county of the residence of the tort-feasor, or in bothsuch counties, and if the same is so recorded then suchtort-feasor's property, except as to the assets specificallylisted in the contract, shall not be subject to any judgment lienas the result of any judgment rendered against the tort-feasor,arising out of the transaction for which the contract is enteredinto.

(L. 1959 S.B. 259 § 1)

(1974) This section does not deprive insuror of right to be heard on question of coverage or collusion and does not discriminate against insurors. Butters v. City of Independence (Mo.), 513 S.W.2d 418.

(1975) Guardian ad litem who sat silent during alleged improper argument and who made an admission of liability held not to have violated his duty to ward and to have owed no duty to insuror after having proceeded under this section. United States Fidelity & Guaranty Co. v. Safeco Ins. Co. of Am. (Mo.), 522 S.W.2d 809.