Missouri Laws 376.210 – Excess deposits
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Terms Used In Missouri Laws 376.210
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Department: the department of commerce and insurance. See Missouri Laws 376.005
- Director: the director of the department of commerce and insurance. See Missouri Laws 376.005
Whenever the aggregate market value of the securities deposited by any company shall exceed the net reserve liability of the company on all of its registered policies and annuity bonds, the excess may be returned to the company, or, whenever the liability of such company on such policies shall cease, the director of the department of commerce and insurance shall return the securities deposited.