Missouri § 379.1308 Approval for payment of dividends required.

Missouri Statutes

§ 379.1308 — Approval for payment of dividends required.

Missouri § 379.1308

Title XXIVBUSINESS AND FINANCIAL INSTITUTIONS

Ch. 379Insurance Other Than Life

This text of Missouri § 379.1308 (Approval for payment of dividends required.) 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. § 379.1308 (2026).

Text

No captive insurance company shall pay a dividend out of, or other distribution with respect to, capital or surplus without the prior approval of the director.  Approval of an ongoing plan for the payment of dividends or other distributions shall be conditioned upon the retention, at the time of each payment, of capital or surplus in excess of amounts specified by or determined in accordance with formulas approved by the director.  Notwithstanding the provisions of section 355.661 , a captive insurance company organized under chapter 355 may make such distributions as are in conformity with its purposes and approved by the director.

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No captive insurance company shall pay a dividend out of, or other distribution with respect to, capital or surplus without the prior approval of the director. Approval of an ongoing plan for the payment of dividends or other distributions shall be conditioned upon the retention, at the time of each payment, of capital or surplus in excess of amounts specified by or determined in accordance with formulas approved by the director. Notwithstanding the provisions of section 355.661 , a captive insurance company organized under chapter 355 may make such distributions as are in conformity with its purposes and approved by the director.