Section 375.520

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 375

Effective - 28 Aug 1949   

  375.520.  Costs to be paid from deposits — amount. — 1.  The deposits of a company shall be subject to or liable for the following costs only:

  (1)  The actual cost of collecting the deposits; and

  (2)  An amount not to exceed one percent of all policies proved up and allowed which amount shall be full compensation for the services of all actuaries, clerks or other persons employed or appointed by the director or the court in the adjusting and settling of policy claims.

  2.  The cost of collecting deposits shall be the amount actually paid out by the director and in no case shall exceed two and one-half percent of the amount collected.  The director, subject to the approval of the court as to amount, shall pay such costs from the proceeds of the deposits.

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(RSMo 1939 § 6048, A. 1949 H.B. 2092)

Prior revisions: 1929 § 5937; 1919 § 6345; 1909 § 7075