377.280. Surrender values.
Surrender values.
377.280. Any corporation, company or association transactingbusiness under the provisions of sections 377.200 to 377.460, mayallow cash values on its policies or the equivalent of the cashvalue in extended or paid-up insurance to the extent of theunused portion of the emergency fund equitably apportioned at thedates of surrender, and may allow fixed cash values on itslimited payment or investment policies, or the equivalent of thecash value in extended or paid-up insurance; provided, the amountto be set apart for such fixed cash value or its equivalent isplainly stated in the policy; and provided further, that suchfixed cash value shall not be in excess of the portion of thepremium with interest accretions thereon collected for thatpurpose.
(RSMo 1939 § 5877)Prior revisions: 1929 § 5766; 1919 § 6176; 1909 § 6970