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Section 411.276 Liability of surety not cumulative.

MO Rev Stat § 411.276 (2019) (N/A)
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Effective 28 Aug 1971

411.276. Liability of surety not cumulative. — In no event shall the liability of the surety on any bond required by section 411.275 accumulate for each successive license period during which the bond is in force. The liability of the surety shall be limited in the aggregate to the face amount of the bond.

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(L. 1971 H.B. 180 § 3)

Previous Section
Section 411.275 Warehouseman's bond, requirements — defenses denied surety — cancellation, notice, effect — demand for payment by director, duties of director — refusal of surety to pay, penalty — distribution of bond proceeds — duties of depositors or receipt holders — injunction, hearing, notice — final inspection of warehouse — verbal or written bond binders effective, contents.
Next Section
Section 411.277 Certificates of deposit and letters of credit, provisions applicable to — letters of credit, submitted in lieu of bond, when, refusal of director to accept, grounds, demand by director, procedure, failure by bank to pay, when, penalty, funds returned to bank, when — rules and regulations.