Missouri § 375.360 Note not considered payment — not to loan when insolvent.

Missouri Statutes

§ 375.360 — Note not considered payment — not to loan when insolvent.

Missouri § 375.360

Title XXIVBUSINESS AND FINANCIAL INSTITUTIONS

Ch. 375Provisions Applicable to All Insurance Companies

This text of Missouri § 375.360 (Note not considered payment — not to loan when insolvent.) is published on Counsel Stack Legal Research, covering Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mo. Rev. Stat. § 375.360 (2026).

Text

No note or obligation given by any stockholder, whether secured by deed of trust, mortgage or otherwise, shall be considered as payment of any part of the capital stock; and no loan of any money shall be made by any such company to any director, trustee, officer or agent thereof when such company is insolvent, and the failure to collect such loans before the company shall have been adjudged insolvent shall be prima facie evidence of its insolvency at the time such loan was made; and if any such loan shall be made, the persons making it, or who shall assent thereto, shall be jointly and severally liable to the company for the amount of such loan and the interest; provided, however, that this shall not apply to premium notes given by directors, trustees, officers or agents who are also polic

Free access — add to your briefcase to read the full text and ask questions with AI

No note or obligation given by any stockholder, whether secured by deed of trust, mortgage or otherwise, shall be considered as payment of any part of the capital stock; and no loan of any money shall be made by any such company to any director, trustee, officer or agent thereof when such company is insolvent, and the failure to collect such loans before the company shall have been adjudged insolvent shall be prima facie evidence of its insolvency at the time such loan was made; and if any such loan shall be made, the persons making it, or who shall assent thereto, shall be jointly and severally liable to the company for the amount of such loan and the interest; provided, however, that this shall not apply to premium notes given by directors, trustees, officers or agents who are also policyholders in such company, when given in the usual course of business of such company in issuing policies.