1. No corporation, company or association transacting business under the provisions of sections 377.200 to 377.460 shall make any discrimination in favor of holders of the same kind of policies, or persons of the same expectation of life, neither in the amount of premiums charged nor in any return of premiums, dividends or other advantages.

2. No agent of such corporation shall make any contract for insurance or agreement as to such contract, other than that which is plainly expressed in the policy issued.

Terms Used In Missouri Laws 377.360

  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Director: the director of the department of commerce and insurance. See Missouri Laws 377.005

3. If it shall appear to the satisfaction of the director or other official charged with the supervision of insurance matters, that any corporation, company or association is issuing policies or contracts that are in violation of this section, he shall report the same to the attorney general, who shall require such corporation and its officers and agents within thirty days to refrain from issuing any such policy or contract.

4. If any corporation or officer or agent thereof shall fail to comply with the provisions of this section and with the demand of the attorney general, that officer shall at once institute such proceedings at law as may be necessary to restrain such violation of this section.

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