Missouri § 378.622 - Assets, use of — variable basis contracts, allowed when.
Full text of Missouri Revised Statutes of Missouri § 378.622 — Assets, use of — variable basis contracts, allowed when., with citation guidance and answers to common questions.
§ 378.622. Assets, use of — variable basis contracts, allowed when.
1. All assets shall be held, invested and disbursed for the use and benefit of the society and no member or beneficiary shall have or acquire individual rights therein or become entitled to any apportionment on the surrender of any part thereof, except as provided in the benefit contract.
2. A society may create, maintain, invest, disburse and apply any special fund or funds necessary to carry out any purpose permitted by the laws of such society.
3. A society may, pursuant to resolution of its supreme governing body, establish and operate one or more separate accounts and issue contracts on a variable basis, subject to the provisions of law regulating life insurers establishing such accounts and issuing such contracts. To the extent the society deems it necessary in order to comply with any applicable federal or state laws, or any rules issued thereunder, the society may adopt special procedures for the conduct of the business and affairs of a separate account, and may, for persons having beneficial interests therein, provide special voting and other rights, including without limitation special rights and procedures relating to investment policy, investment advisory services, selection of certified public accountants, and selection of a committee to manage the business and affairs of the account, and may issue contracts on a variable basis to which subsections 2 and 4 of section 378.619 shall not apply.
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(L. 1992 S.B. 831)
Effective 1-01-93
---- end of effective 01 Jan 1993 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 378.622
What does Revised Statutes of Missouri § 378.622 cover?
Section 378.622 ("Assets, use of — variable basis contracts, allowed when.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 378.622?
A common citation format is "Revised Statutes of Missouri § 378.622" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 378.622 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.