Missouri § 379.985 Member's interest — nontransference of membership — immunity from liability — assessments, not imposed — security, membership interest.

Missouri Statutes

§ 379.985 — Member's interest — nontransference of membership — immunity from liability — assessments, not imposed — security, membership interest.

Missouri § 379.985

Title XXIVBUSINESS AND FINANCIAL INSTITUTIONS

Ch. 379Insurance Other Than Life

This text of Missouri § 379.985 (Member's interest — nontransference of membership — immunity from liability — assessments, not imposed — security, membership interest.) 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. § 379.985 (2026).

Text

1.The membership interests of the policyholders of a reorganized insurance company shall become membership interests in the mutual holding company. Policyholders of the reorganized insurance company shall be members of the mutual holding company in accordance with the articles of incorporation and bylaws of the mutual holding company and the applicable provisions of this chapter relating to mutual insurance companies.

2.No member of a mutual holding company may transfer membership or any right arising therefrom.

3.A member of a mutual holding company is not, as such, personally liable for the acts, debts, liabilities or obligations of the company.

4.No assessments of any kind may be imposed upon the members of a mutual holding company by the directors, or members, or because of

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1. The membership interests of the policyholders of a reorganized insurance company shall become membership interests in the mutual holding company. Policyholders of the reorganized insurance company shall be members of the mutual holding company in accordance with the articles of incorporation and bylaws of the mutual holding company and the applicable provisions of this chapter relating to mutual insurance companies.

2. No member of a mutual holding company may transfer membership or any right arising therefrom.

3. A member of a mutual holding company is not, as such, personally liable for the acts, debts, liabilities or obligations of the company.

4. No assessments of any kind may be imposed upon the members of a mutual holding company by the directors, or members, or because of any liability of any company owned or controlled by the mutual holding company, or because of any act, debt or liability of the mutual holding company itself.

5. A membership interest in a domestic mutual holding company shall not constitute a security under the laws of this state.