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Section 379.525 Additional requirements for articles of association.

MO Rev Stat § 379.525 (2019) (N/A)
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Effective 28 Aug 1939

379.525. Additional requirements for 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 379.520, the amount of the capital stock, the number of shares into 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 the 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 379.520, 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 assets shall not be of less value than required by new companies organizing under the insurance statutes of this state concerning mutual companies.

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(RSMo 1939 § 5992)

Prior revisions: 1929 § 5881; 1919 § 6291

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