Missouri § 376.220 May use realty to secure notes and bonds.

Missouri Statutes

§ 376.220 — May use realty to secure notes and bonds.

Missouri § 376.220

Title XXIVBUSINESS AND FINANCIAL INSTITUTIONS

Ch. 376Life, Health and Accident Insurance

This text of Missouri § 376.220 (May use realty to secure notes and bonds.) 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. § 376.220 (2026).

Text

Should any company depositing under section 376.170 become the owner of real estate for its own use and accommodations, or become temporarily seized and possessed of real estate in satisfaction of debt for which such real estate was pledged for security, such company may execute its own note for the value of such real estate, payable to the director, as trustee, and secure the said notes or bonds by duly recorded deeds of trust of said real estate; which notes or bonds thus secured may be deposited with said director as proper security, under and according to the provisions of sections 376.010 to 376.670 , said value to be subject to the approval of the director of the department of commerce and insurance.

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Should any company depositing under section 376.170 become the owner of real estate for its own use and accommodations, or become temporarily seized and possessed of real estate in satisfaction of debt for which such real estate was pledged for security, such company may execute its own note for the value of such real estate, payable to the director, as trustee, and secure the said notes or bonds by duly recorded deeds of trust of said real estate; which notes or bonds thus secured may be deposited with said director as proper security, under and according to the provisions of sections 376.010 to 376.670 , said value to be subject to the approval of the director of the department of commerce and insurance.