reglab/statecodes huggingface dataset:
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.540 - Articles to be acknowledged and declaration of proceeding to be made.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1939
379.540. Articles to be acknowledged and declaration of proceeding to be made. —
1. If the assent is obtained as provided in section 379.535, the directors of the company, or a majority of them, or any five stockholders, may sign and acknowledge the articles of association adopted in the same manner provided for the acknowledgment of deeds, and the president and secretary of the meeting shall draw up a declaration in the form of an affidavit verified by them, which shall set forth the proceedings of the meeting, the propositions acted upon, the number of votes cast upon each proposition submitted, the number of votes cast in favor of and the number of votes cast against the same, and, if it be a stock company, the amount of stock held respectively by those voting in favor of and against the same, and if the company be a stock company the amount of stock held by persons not voting, or if a mutual company the number of policyholders not voting, or if a stock and mutual company the amount of stock held by persons not voting and the number of policyholders in the mutual department not voting upon such propositions; to which declaration shall be attached the articles of association as adopted by the meeting and acknowledged as aforesaid.
2. Said declaration and articles of association shall thereupon be delivered to the board of directors and shall be by them submitted to and filed with the director of the department of commerce and insurance of this state.
­­--------
(RSMo 1939 § 5995)
Prior revisions: 1929 § 5884; 1919 § 6294
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.545 - Duty of director.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1939
379.545. Duty of director. —
Said director, if satisfied that the said propositions for reorganization and extension and continuance of the corporate existence of the company under the general laws and articles of association have been duly adopted, and that the said articles of association are in conformity with the general insurance statutes of this state, and that said articles of association have been submitted to the attorney general in accordance with the requirements of section 379.040, if a stock company, or of section 379.065, if a mutual company, and have been found by him to be in accordance with the provisions of this chapter and not inconsistent with the constitution of this state, or that of the United States, and have been delivered back to him so certified, shall comply with all the requirements of said sections 379.040 and 379.065 and shall so certify upon said declaration and shall deliver to said company a certified copy of said articles and his certificate, together with authority to reorganize thereunder.
­­--------
(RSMo 1939 § 5996)
Prior revisions: 1929 § 5885; 1919 § 6295
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.550 - Board to accept certificate — file with secretary of state — fee — new board — notify director.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1947
379.550. Board to accept certificate — file with secretary of state — fee — new board — notify director. —
1. Upon receiving the certificate and authority aforesaid, the board of directors shall by resolution accept the same, and shall file with the secretary of state a copy of said articles of association and of the certificate and authorization of said director, and the corporate existence of said company shall thereupon be deemed and held extended and continued for the period mentioned in said articles of association, and a certificate by the secretary of state, under the seal of the state, that said corporation has been duly organized and its corporate existence extended and continued for such period shall be taken by all courts as evidence of the continued corporate existence of such company.
2. They shall also, at the time of filing said articles, pay to the state director of revenue the fee required of new companies on filing articles of corporation.
3. If a new board of directors is designated in the articles of association, they shall at the time originally limited by law or the charter of the company for the termination of its corporate existence enter upon the performance of their duties.
4. After such time the board of directors of the company shall make the necessary changes, if any, in the stock and business of the company to conform to the articles of association and the general insurance statutes of this state, and shall thereupon notify the director of the fact that the company is prepared to continue operations under the general insurance statutes and articles of association aforesaid.
­­--------
(RSMo 1939 § 5997, A.L. 1947 V. I p. 331)
Prior revisions: 1929 § 5886; 1919 § 6296
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.555 - Examination of company and certificate to do business.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1939
379.555. Examination of company and certificate to do business. —
1. If, upon examination made by him, the said director shall find that the company has been duly reorganized as provided by this chapter and that its capital is such as set forth in the articles of association, and that its assets, capital, premium notes and investments are of not less amount or value than required of new companies organized under the insurance statutes of this state, and that such company is in sound and solvent condition, according to the insurance statutes of this state, he shall deliver to the officers a certificate to that effect, and an authorization to do business under the general insurance statutes of this state.
2. Any and all special privileges, if any, contained in the original charter of the company or contrary to or not conferred by said articles of association and the general insurance statutes of this state shall cease and determine at the time originally limited by law or its charter for the termination of its corporate existence, and thereafter, unless sooner determined by proceedings under the general insurance statutes, said company shall continue as a corporation and possess all the powers and franchises conferred by and be subject to all the provisions of the general insurance statutes of this state, and for the term specified in the articles of association; provided, however, that said company as reorganized shall not be deemed a new corporation, nor shall such reorganization and extension and continuance of the corporate existence of said company under the general insurance statutes change or affect the title of said company to its assets, nor change or affect its members nor its policies of insurance or other obligations and contracts then existing; but all such shall remain, belong to and be obligatory upon said company as reorganized, in the same manner and with the same effect as under its charter and before such reorganization they pertained to and were held by and were obligatory upon said company, subject to the general insurance and corporation laws of this state.
­­--------
(RSMo 1939 § 5998)
Prior revisions: 1929 § 5887; 1919 § 6297
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.560 - Value of equitable interests of nonassenting stockholders or policyholders to be paid to them.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1939
379.560. Value of equitable interests of nonassenting stockholders or policyholders to be paid to them. —
If the assent be obtained as provided in section 379.535, but there be any stockholders or policyholders who have not at such meeting given their assent to such propositions to reorganize and extend and continue the corporate existence of the company under the general insurance statutes of the state, and such stockholders or policyholders shall not thereafter and prior to the expiration of the time herein provided for the filing of the petition of said company in the circuit court have delivered to such company their written assent or ratification of such propositions, then such equitable interests or proportions, if any, as such stockholders or policyholders not so assenting or ratifying such propositions have in the net assets which such company had at the time originally limited by law or its charter for the termination of its corporate existence shall be ascertained and paid and distributed to them as herein provided.
­­--------
(RSMo 1939 § 5999)
Prior revisions: 1929 § 5888; 1919 § 6298
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.565 - Suit in circuit court to determine value.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1939
379.565. Suit in circuit court to determine value. —
In such event, said company shall within six months after the time originally limited by law or its charter for the termination of its corporate existence file a petition in equity in the circuit court of the county where its principal office or place of business shall be located setting forth in its petition the facts regarding the proceedings taken by it toward such reorganization and extension and continuance of the corporate existence of such company, the condition of the company and a description of its assets at the time so as aforesaid limited for the termination of its corporate existence, and if a stock company the amount of its capital stock and the number of stockholders and the amount of the stock held by them, respectively, assenting to or ratifying and not assenting to or ratifying such reorganization and extension and continuance of the corporate existence of such company, or if a mutual company the number of policyholders respectively assenting to or ratifying and not assenting to or ratifying the same, or if a stock and mutual company the number of stockholders respectively assenting to or ratifying and not assenting to or ratifying the same and the amount of stock held by them respectively and the number of policyholders in the mutual department respectively assenting to or ratifying and not assenting to or ratifying the same, and praying the court to ascertain and by its judgment and decree to determine the persons who were such stockholders or policyholders of said company at the time originally limited by law or its charter for the termination of its corporate existence who have not assented to or ratified such reorganization and extension and continuance of the corporate existence of such company and the value of their respective equitable interests or proportions, if any, in the net assets which such company had at the time originally limited by law or its charter for the termination of its corporate existence, and authorizing and directing it to pay to such persons the value of their respective equitable interests or proportions in such net assets in full satisfaction of their respective claims and interests in such assets.
­­--------
(RSMo 1939 § 5999)
Prior revisions: 1929 § 5888; 1919 § 6298
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.570 - Publication of notice — proceedings.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1939
379.570. Publication of notice — proceedings. —
1. On the filing of said petition with the clerk of said court, it shall be the duty of said clerk to cause a notice to be published in some newspaper published in the county where the cause is pending, and if there is no newspaper published in said county, then in some newspaper published in the next nearest county, addressed to all whom it may concern, and setting forth the filing of said petition and stating briefly the object and general nature of the petition and that a judgment and decree will be entered in said cause at the next term of the said court after due publication of said notice, as prayed in said petition.
2. And at the next term of said court after due publication of said notice, as herein provided, the court shall hear the said petition and the evidence which may be produced by the petitioner and by any person interested in such company as a stockholder, if it be a stock company, or as a policyholder if it be a mutual company, or as a stockholder or a policyholder in its mutual department if it be a stock and mutual company, at the time originally limited by law or its charter for the termination of the corporate existence of such company who has not assented to or ratified such reorganization and extension and continuance of the corporate existence of such company, and shall make and enter its judgment and decree ascertaining and determining the number and names of the persons who were stockholders if it be a stock company, or who were policyholders if it be a mutual company, or who were stockholders or policyholders in its mutual department if it be a stock and mutual company, of said company at the time originally limited by law or its charter for the termination of its corporate existence who have not assented to or ratified such reorganization and extension and continuance of the corporate existence of such company and the value of their respective equitable interests or proportions in its net assets at that time, and authorizing and directing such company to pay to them respectively the value of their equitable interests or proportions in such net assets as thus ascertained and determined in full satisfaction of their respective claims and interests in such net assets; and thereupon payment by said company to such stockholders or policyholders of the value of their respective equitable interests or proportions in such net assets as thus ascertained and determined such stockholders or policyholders shall have no further claims or interests in such assets of said company; provided, that the court may, if it deem it advisable, refer the matter to some suitable person as referee to hear said matter and ascertain and report to the court his findings concerning the same, as in other cases.
­­--------
(RSMo 1939 § 6000)
Prior revisions: 1929 § 5889; 1919 § 6299
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.575 - Who may appear — proceedings, how governed.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1939
379.575. Who may appear — proceedings, how governed. —
1. Any person interested in such company as a stockholder, if it be a stock company, or as a policyholder if it be a mutual company, or as a stockholder or a policyholder in its mutual department, at the time originally limited by law or its charter for the termination of its corporate existence who has not assented to or ratified such reorganization and extension and continuance of the corporate existence of such company shall be entitled to appear as a defendant and be heard in said cause.
2. The proceedings in such cause shall, as near as may be, conform to and be governed by the laws regulating practice in civil cases.
­­--------
(RSMo 1939 § 6001)
Prior revisions: 1929 § 5890; 1919 § 6300
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.580 - Costs — by whom paid.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1939
379.580. Costs — by whom paid. —
All costs of such proceeding prior to and including the judgment and decree of the court, or, if the matter be referred, prior to and including the filing and approval of the referee's report, shall be paid by the petitioner, and the court, as to all costs made subsequent thereto, shall make such order as in its discretion may be deemed just.
­­--------
(RSMo 1939 § 6002)
Prior revisions: 1929 § 5891; 1919 § 6301
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.585 - Company having special charter may accept general insurance laws.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1939
379.585. Company having special charter may accept general insurance laws. —
Any insurance company, other than life, incorporated and organized under the laws of this state, and now doing business in this state, may surrender its charter, and accept in lieu of said charter the provisions of the general insurance statutes, and reorganize thereunder in the manner herein set forth.
­­--------
(RSMo 1939 § 5941)
Prior revisions: 1929 § 5830; 1919 § 6240; 1909 § 7031
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.590 - Content of articles of association.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1939
379.590. Content of articles of association. —
When any such company desires to avail itself of the provisions of sections 379.585 to 379.625, the directors thereof shall draw up articles of association which shall set forth
(1) The name of the company;
(2) The place where the principal office for the transaction of business shall be located;
(3) The specific kind of business it proposes to transact;
(4) The manner in which the corporate powers granted under the general insurance statutes shall be exercised, showing the number of directors, which shall not be more than thirteen nor less than nine, and such other particulars as may be necessary to make manifest the objects and purposes of the corporation; provided, however, that the name of the corporation shall not be changed, nor shall the object or plan of business embrace any others than those designated in the existing charter, nor embrace more than under the general insurance statutes of this state can be carried on by any one corporation.
­­--------
(RSMo 1939 § 5942)
Prior revisions: 1929 § 5831; 1919 § 6241; 1909 § 7032
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.595 - Additional requirements of articles of association.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1939
379.595. Additional requirements of articles of association. —
1. If such company be a stock company, then the articles of association shall set forth, in addition to the requirements of section 379.590, the amount of capital stock, the number of shares in which it shall have been divided, and the amount which has been paid upon each share, and if the capital stock is less than that required by general statutes, it shall be increased to at least that amount.
2. If such company be a mutual company, its articles of association shall set forth, in addition to what is required by section 379.590, the number of policyholders, the amount of premium notes, their face value, the amount of assessments paid thereon, and in all cases the amount of cash and other assets, itemized, held and owned by such company; provided, that the aggregate amount of the assets shall not be of less value than required by new companies organizing under the insurance statutes of this state concerning mutual companies.
­­--------
(RSMo 1939 § 5943)
Prior revisions: 1929 § 5832; 1919 § 6242; 1909 § 7033
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.600 - Special meeting to be called — notice.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1939
379.600. Special meeting to be called — notice. —
After drafting the proposed articles of association, it shall be the duty of the directors of said company to call a special meeting, if a stock company, of its stockholders, if a mutual company, of its policyholders, or if a stock and mutual company, of its stockholders and its policyholders in the mutual department, by a notice, which shall be published at least once a week in some newspaper of general circulation in the city, county or town in which said company is located, the first insertion to be not less than sixty days, the last to be not less than one or more than six days previous to the day on which such meeting shall be held, but if there be no newspaper published therein, then in some newspaper published in the next nearest county, and by posting up a handbill in the office of said company; said notice shall state the time and place of the meeting and the objects thereof, and shall further state where a draft of the proposed articles of association can be seen and examined.
­­--------
(RSMo 1939 § 5944)
Prior revisions: 1929 § 5833; 1919 § 6243; 1909 § 70334
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.605 - Proposition to surrender to be voted on.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1939
379.605. Proposition to surrender to be voted on. —
1. At the time and place designated, the proposition as to the surrender of the charter, adoption of the general insurance statutes in lieu thereof, reorganization thereunder, increase of stock, if necessary, and adoption of the proposed articles of association, as submitted or amended, shall be voted upon.
2. If a stock company, the assent of the persons holding all of the stock issued by the company, and then outstanding, or if it be a mutual company, the assent of all the policyholders, and if the company be a stock and mutual company, the assent of all the stockholders and of the policyholders in the mutual department, shall be requisite for the adoption of the propositions submitted; and, in addition, any company doing a stock and mutual business may submit and determine in the same manner and decide upon continuing either of the two plans of insurance and discontinuing the other.
­­--------
(RSMo 1939 § 5945)
Prior revisions: 1929 § 5834; 1919 § 6244; 1909 § 7035
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.610 - Acknowledgment and declaration to be made.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1939
379.610. Acknowledgment and declaration to be made. —
1. If the assent is obtained as provided in section 379.605, the directors of the company, or a majority of them, or any five stockholders, or if a mutual company, any five policyholders, may sign and acknowledge the articles of association adopted, in the same manner provided for acknowledgment of deeds, and the president and secretary of the meeting shall draw up a declaration in the form of an affidavit, verified by them, which shall set forth the proceedings of the meeting, the propositions acted upon, the number of votes cast upon each proposition submitted to which declaration shall be attached the articles of association as adopted by the meeting and acknowledged as aforesaid.
2. Said declaration and articles of association shall thereupon be delivered to the board of directors, and shall be by them submitted to and filed with the director of the department of commerce and insurance of this state.
­­--------
(RSMo 1939 § 5946)
Prior revisions: 1929 § 5835; 1919 § 6245; 1909 § 7036
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.615 - Duty of director.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1939
379.615. Duty of director. —
Said director, if satisfied that the proposed surrender of the existing charter and substitution therefor of the articles of association have been duly adopted, and that the said articles of association are in conformity with the general insurance statutes of this state, and that said articles of association have been submitted to the attorney general in accordance with the requirements of section 379.040, and have been found by him to be in accordance with the provisions of this chapter, and not inconsistent with the constitution of this state, or that of the United States, and have been delivered back to him so certified, shall comply with all the requirements of said section 379.040, and shall so certify upon said declaration, and shall deliver to said company a certified copy of said articles and his certificate, together with authority to the company to reorganize thereunder.
­­--------
(RSMo 1939 § 5947)
Prior revisions: 1929 § 5836; 1919 § 6246; 1909 § 7037
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.620 - Acceptance by resolution of directors.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1939
379.620. Acceptance by resolution of directors. —
Upon receiving the certificate and authorization aforesaid, the board of directors shall, by resolution, accept the same, and shall file with the secretary of state a copy of said articles of association and of the certificate and authorization of said director, and the corporate existence shall date from the time of filing said copies of such articles and a certificate by the secretary of state, under the seal of the state, that said corporation has been duly organized, shall be taken by all courts of this state as evidence of the corporate existence of such corporation. They shall also, at the time of filing said articles, pay into the state treasury the fee required of new companies on filing articles of corporation. If a new board of directors is designated in the articles of association, they shall at once enter upon the performance of their duties. The board of directors designated in the articles of association shall thereupon make the necessary changes in the stock and business of the company to conform to the articles of association and the general insurance statutes of this state, and shall thereupon notify the director of the department of commerce and insurance of the fact that the company is prepared to continue operations under the general insurance statutes and articles of association aforesaid.
­­--------
(RSMo 1939 § 5948)
Prior revisions: 1929 § 5837; 1919 § 6247; 1909 § 7038
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.625 - Certificate to do business.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1939
379.625. Certificate to do business. —
1. If, upon examination made by him, the said director of the department of commerce and insurance shall find that the company has been duly reorganized as provided by this chapter, and that its assets, capital, premium notes and investments are such as set forth in the articles of association required in sections 379.585 to 379.625, and that such company is in sound and solvent condition, according to the insurance statutes of this state, he shall deliver to the officers thereof a certificate to that effect, and an authorization to do business under the general insurance statutes of this state.
2. Thereupon the charter of said company shall be held and shall be considered as surrendered, and the articles of association and the general insurance statutes of this state substituted in lieu thereof.
3. Any and all special privileges contained in said charter contrary to or not conferred by said articles of association and general insurance statutes shall cease and determine, and thereafter, unless sooner determined by proceedings under the general statutes, said company shall continue as a corporation, and possess all the powers and franchises conferred by and be subject to all the provisions of the general insurance statutes of this state, and for the term specified in the articles of association; provided, however, that said company as reorganized shall not be deemed a new corporation, nor shall such reorganization, under and by the acceptance of the provisions of the general insurance statutes, change or affect the title of said company to its assets, nor change or affect its membership nor its policies of insurance or other obligations and contracts then existing; but all such shall remain, belong to and be obligatory upon said company as reorganized, in the same manner and with the same effect as under its charter and before such reorganization they pertained to and were held by and were obligatory upon said company, subject to the general insurance and corporation laws of this state.
­­--------
(RSMo 1939 § 5949)
Prior revisions: 1929 § 5838; 1919 § 6248; 1909 § 7039
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.650 - Exchange of reciprocal or interinsurance contracts authorized — classes of insurance allowed.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1989
379.650. Exchange of reciprocal or interinsurance contracts authorized — classes of insurance allowed. —
1. Individuals, partnerships and corporations of this state, hereby designated subscribers, are hereby authorized to exchange either assessable or nonassessable reciprocal or interinsurance contracts with each other, or with individuals, partnerships and corporations of other states and countries, providing indemnity among themselves, for the purpose of making insurance regarding the following classes:
(1) Property which shall consist of insurance on the following subclasses:
(a) Marine, inland marine, and transportation;
(b) Animals;
(c) All other real and personal property, intangible or tangible;
(2) Liability, which shall consist of insurance for the following subclasses:
(a) Workers' compensation and employers' liability;
(b) Professional malpractice;
(c) Contractual liability;
(d) All other legal liability of the insured to another;
(3) Fidelity and surety;
(4) Accident and health, including death by accident;
(5) Miscellaneous, consisting of all other legitimate forms of insurance not described above but excluding life and annuities.
2. Subscribers exchanging assessable contracts shall not at the same time exchange nonassessable contracts; and provided, further, that if an assessable contract is exchanged the subscriber's agreement shall provide that a subscriber shall be subject to a contingent liability of at least one premium deposit.
­­--------
(RSMo 1939 § 6078, A.L. 1957 p. 216, A.L. 1967 p. 516, A.L. 1989 S.B. 250)
Prior revisions: 1929 § 5966; 1919 § 6374
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.660 - Contracts to be executed through attorney in fact.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1967
379.660. Contracts to be executed through attorney in fact. —
The contracts may be executed by an attorney in fact, herein designated attorney, duly authorized and acting for the subscribers, and the attorney may be a corporation. The office or offices of the attorney, herein defined as an exchange, may be maintained at such places as may be designated by the subscribers in the power of attorney.
­­--------
(RSMo 1939 § 6079, A.L. 1967 p. 516)
Prior revisions: 1929 § 5967; 1919 § 6375
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.670 - Application for license, contents — requirements.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1967
379.670. Application for license, contents — requirements. —
The subscribers so contracting among themselves shall, through their attorney, file with the director of the department of commerce and insurance of this state a declaration verified by the oath of the attorney setting forth:
(1) The name or title of the office at which the subscribers propose to exchange indemnity contracts. The name or title shall not be so similar to any other name or title previously adopted by a similar organization or by any insurance corporation or association as in the opinion of the director of the department of commerce and insurance is calculated to result in confusion or deception;
(2) The kind or kinds of insurance to be effected or exchanged;
(3) A copy of the form of policy contract or agreement under or by which the insurance is to be effected or exchanged;
(4) A copy of the form of power of attorney or other authority of the attorney under which the insurance is to be effected or exchanged;
(5) The location of the offices from which the contracts or agreements are to be issued;
(6) That, except as to the kinds of insurance herein specifically mentioned in this subdivision, applications have been made for indemnity upon at least one hundred separate risks aggregating not less than one and one-half million dollars represented by executed contracts or bona fide applications to become concurrently effective. In the case of employer's liability or workers' compensation insurance, applications shall have been made for indemnity upon at least one hundred separate risks covering a total payroll of not less than two and one-half million dollars as represented by executed contracts or bona fide applications to become concurrently effective. In the case of automobile insurance, applications shall have been made for indemnity upon at least one thousand motor vehicles or for insurance aggregating not less than one and one-half million dollars represented by executed contracts or bona fide applications to become concurrently effective on any or all classes of automobile insurance effected by the subscribers through the attorney;
(7) That there is in the possession of the attorney and available for the payment of losses, assets conforming to the requirements of sections 379.700 and 379.710.
­­--------
(RSMo 1939 § 6080, A.L. 1967 p. 516)
Prior revisions: 1929 § 5968; 1919 § 6376
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.680 - Service of process on director — method.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1967
379.680. Service of process on director — method. —
1. Concurrently with the filing of the declaration provided for by the terms of section 379.670, the attorney shall file with the director of the department of commerce and insurance an instrument in writing, executed by him for the subscribers, conditioned that, upon the issuance of certificate of authority provided for in section 379.750, service of process may be had upon the director of the department of commerce and insurance in all suits in this state arising out of the policies, contracts or agreements, which service shall be valid and binding upon all subscribers exchanging at any time reciprocal or interinsurance contracts through the attorney.
2. Three copies of the process shall be served, and the director of the department of commerce and insurance shall file one copy, forward one copy to the attorney, and return one copy with his admission of service.
­­--------
(RSMo 1939 § 6081, A.L. 1967 p. 516)
Prior revisions: 1929 § 5969; 1919 § 6377
CROSS REFERENCE:
Service outside of state, 506.500 to 506.520
(1958) Action by assignee of right to return of unearned premiums due policy holders against interinsurance exchange, held within this section so as to authorize service thereunder. State ex rel. Subscribers at Eagle Reciprocal Exchange v. Brady (Mo.), 308 S.W.2d 652.
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.690 - Statement of condition and affairs may be required by director — restriction on liability of members.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1967
379.690. Statement of condition and affairs may be required by director — restriction on liability of members. —
There shall be filed with the director of the department of commerce and insurance of this state, by the attorney, a statement under the oath of the attorney, showing in the case of fire insurance, the maximum amount of indemnity upon any single risk, and the attorney shall, whenever and as often as the same shall be required, file with the director of the department of commerce and insurance a statement verified by his oath to the effect that he has examined the commercial rating of the subscribers as shown by the reference book of a commercial agency having at least one hundred thousand subscribers, and that from the examination or from
*
other information in his possession, it appears that no subscriber has assumed on any single fire insurance risk an amount greater than ten percent of the net worth of the subscriber.
­­--------
(RSMo 1939 § 6082, A.L. 1967 p. 516)
Prior revisions: 1929 § 5970; 1919 § 6378
*Word "for" in original rolls.
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.700 - Reserves required.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1967
379.700. Reserves required. —
There shall be maintained at all times assets in cash or securities authorized by the laws of the state in which the principal office of the attorney is located for the investment of similar funds of insurance companies doing the same kind of business in
*
an amount equal to fifty percent of the net annual advance premiums or deposits collected and credited to the accounts of subscribers on policies having one year or less to run and pro rata on those for longer periods; or, in lieu thereof, one hundred percent of the net unearned premiums or deposits 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.
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.720 - Deficiency how made up — net premium and deposit defined.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1967
379.720. Deficiency how made up — net premium and deposit defined. —
1. If at any time the amounts on hand are less than the requirements of sections 379.700 and 379.710, the subscribers or their attorney for them shall make up the deficiency.
2. Where funds other than those which have accrued from premiums or deposits of subscribers are supplied to make up a deficiency as herein provided for they shall be deposited and held for the benefit of subscribers under such terms and conditions as the director of the department of commerce and insurance may require so long as the deficiency exists, thereafter to be returned to the depositors.
3.
"Net premiums"
or
"deposits"
as used in this law shall be construed to mean the advance premiums or deposits made by subscribers after deducting therefrom the amount for expenses specifically provided in the subscriber's agreement.
­­--------
(RSMo 1939 § 6083, A. 1949 H.B. 2092, A.L. 1967 p. 516)
Prior revisions: 1929 § 5971; 1919 § 6379
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.730 - Annual statement of financial condition required.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1967
379.730. Annual statement of financial condition required. —
1. The attorney shall make an annual report to the director of the department of commerce and insurance for the calendar year, showing that the financial condition of affairs at the office where the contracts are issued is in accordance with the standard of solvency provided for herein and shall furnish such additional information and reports as may be required to show the total premiums or deposits collected, the total losses paid, the total amounts returned to subscribers, and the amounts retained for expenses; provided, however, that the attorney shall not be required to furnish the names and addresses of any subscribers.
2. The business affairs and assets of the reciprocal or interinsurance exchanges, as shown at the office of the attorney thereof, shall be subject to examination by the director of the department of commerce and insurance as often as he sees fit, and the cost thereof shall be paid by the exchange examined.
­­--------
(RSMo 1939 § 6084, A.L. 1967 p. 516)
Prior revisions: 1929 § 5972; 1919 § 6380
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.740 - Corporations generally empowered to become subscribers.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1967
379.740. Corporations generally empowered to become subscribers. —
Any corporation now or hereafter organized under the laws of this state shall, in addition to the rights, powers and franchises specified in its articles of incorporation, have full power and authority to exchange insurance contracts of the kind and character herein mentioned. The right to exchange the contracts is hereby declared to be incidental to the purposes for which the corporations are organized and as much granted as the rights and powers expressly conferred.
­­--------
(RSMo 1939 § 6085, A.L. 1967 p. 516)
Prior revisions: 1929 § 5973; 1919 § 6381
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.750 - Certificate of authority from director required — license may be revoked or suspended — renewal.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 01 Jan 1971, see footnote
379.750. Certificate of authority from director required — license may be revoked or suspended — renewal. —
1. Each attorney by whom or through whom are issued any policies of or contracts for indemnity of the character referred to in sections 379.650 to 379.790 shall procure from the director of the department of commerce and insurance annually a certificate of authority, stating that all of the requirements of the sections have been complied with, and upon compliance and the payment of the fees required by those sections the director of the department of commerce and insurance shall issue the certificate of authority.
2. The director of the department of commerce and insurance may revoke or suspend any certificate of authority issued hereunder in case of breach of any of the conditions imposed by sections 379.650 to 379.790 after reasonable notice has been given the attorney, in writing, so that he may appear and show cause why action should not be taken.
3. Any attorney who may have procured a certificate of authority hereunder shall renew same annually as of July first thereafter; provided, however, that any certificate of authority shall continue in full force and effect until the new certificate of authority be issued or specifically refused.
­­--------
(RSMo 1939 § 6087, A.L. 1967 p. 516, A.L. 1969 3d Ex. Sess. H.B. 21)
Prior revisions: 1929 § 5975; 1919 § 6383
Effective 1-01-71
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.770 - Mergers or consolidation of reciprocal exchanges or interinsurers.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 2001
379.770. Mergers or consolidation of reciprocal exchanges or interinsurers. —
Two or more domestic reciprocal exchanges or interinsurers may merge or consolidate on affirmative vote of not less than two-thirds of the subscribers of each exchange or interinsurer who vote on the merger or consolidation, pursuant to due notice and prior approval of the director of the department of commerce and insurance of this state of the terms and manner of the notice and of the manner and form of the voting and of the proposed merger or consolidation.
­­--------
(L. 1959 S.B. 31 § 375.895, A.L. 1967 p. 516, A.L. 2001 H.B. 212)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 379 - Insurance Other Than Life › Section 379.780 - Exemption from other insurance laws except retaliatory law, and certain enumerated sections.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 379
• Effective - 28 Aug 1975
379.780. Exemption from other insurance laws except retaliatory law, and certain enumerated sections. —
1. Except as provided in this section, no law of this state relating to insurance shall apply to the exchange of indemnity contracts. When any other law is applicable, it shall be construed in accordance with the fundamental nature of a reciprocal or interinsurance exchange. In the event of any conflict between such law and the provisions of this section or the provisions of sections 379.650 to 379.770, the latter shall prevail. The other law may, however, supplement or explain the provisions of this section and sections 379.650 to 379.770, and the laws herein made applicable to reciprocal or interinsurance exchanges.
2. The following laws shall be applicable to reciprocal or interinsurance exchanges:
(1) Chapter 148, wherein applicable to the taxation of insurance companies and associations;
(2) Chapter 374, wherein applicable to insurers or insurance companies except wherein the provisions thereof are specifically or clearly applicable only to a stock or mutual insurer;
(3) Chapter 375, wherein applicable to insurers or insurance companies except wherein the provisions thereof are specifically or clearly applicable only to a stock or mutual insurer;
(4) Sections 379.098, 379.100, 379.125, 379.140, 379.203, 379.420 to 379.510, inclusive, and sections 379.650 to 379.790, inclusive.
­­--------
(RSMo 1939 § 6089, A.L. 1967 p. 516, A.L. 1969 3d Ex. Sess. H.B. 21, A.L. 1975 H.B. 945)
Prior revisions: 1929 § 5977; 1919 § 6385