Missouri Statutes

§ 380.461 — Company may borrow to pay losses — assessment to pay loan.

Missouri § 380.461

JurisdictionMissouri

Title XXIVBUSINESS AND FINANCIAL INSTITUTIONS

Ch. 380County, Town and Farmers' Mutual Property Insurance Companies

This text of Missouri § 380.461 (Company may borrow to pay losses — assessment to pay loan.) 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. § 380.461 (2026).

Text

The company may borrow money for the payment of accrued losses and expenses; but any sum necessary to pay the loan in full shall be included in the next assessment and the assessment shall be levied not later than twelve months after the incurring of the losses or expenses paid from the loan unless otherwise permitted by the director.

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Legislative History

(L. 1984 H.B. 1498) Effective 1-01-85

Nearby Sections

15

§ 380.005

§ 380.011

Classification as Missouri mutual insurance companies — new companies prohibited.

§ 380.021

Authority to do business on not-for-profit basis — property of members, authority to insure — limitation of area — reserve fund, and reinsurance requirements.

§ 380.031

Exemption from insurance laws, exceptions.

§ 380.041

Board of directors, election, qualifications, terms, officers — annual meeting of company, held when, notice of requirements.

§ 380.051

Financial statement filed annually, fee.

§ 380.061

Examination by department, powers and duties — expenses — examination by CPA in lieu of department — refusal to comply, effect.

§ 380.071

Unsafe operation of business — reasonable time to remedy — failure to remedy, director's powers.

§ 380.081

Noncompliance — notice, content hearing — judicial review — failure to comply, director's powers.

§ 380.091

Forms filed where — disapproval by director, notice, content — judicial review.

§ 380.101

Policyholder in mutual to be member — eligibility — member's right to sue company.

§ 380.111

School district's real and personal property may be insured — procedure for district to become member.

§ 380.121

Membership fee — business basis, how established — assessment of members — reserve — return of deposits to members, when — liability of policyholder on termination of policy.

§ 380.131

Loss or judgment against company, business basis to determine procedure — failure to pay assessment, effect.

§ 380.141

Unsatisfied judgment against company, restraining order for transaction of new business.

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Bluebook (online)

Missouri § 380.461, Counsel Stack Legal Research, https://law.counselstack.com/statute/mo/380/380.461.