All stocks and other evidence of indebtedness, except such as are transferable by delivery, held by insurance companies doing business in this state, as collateral for moneys loaned or other obligations, shall be regularly assigned and transferred over to said companies by the corporations or individuals issuing the same, and shall be surrendered by such companies only when the obligations of the assignors shall have been permanently and satisfactorily fulfilled and discharged.
Mo. Rev. Stat. § 375.370
Collateral to be assigned to company
Known as the Insurance Producers Act
The act spans §§ 375–375 (383 sections).
Effective: 28 Aug 1939; (RSMo 1939 § 6035); Prior revisions: 1929 § 5924; 1919 § 6332; 1909 § 7063
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.