Missouri § 379.085 - Mutual companies doing fire and marine business, agreements and securities — violation, penalty.
Full text of Missouri Revised Statutes of Missouri § 379.085 — Mutual companies doing fire and marine business, agreements and securities — violation, penalty., with citation guidance and answers to common questions.
§ 379.085. Mutual companies doing fire and marine business, agreements and securities — violation, penalty.
1. No company formed upon the mutual plan for the purpose of doing the fire and marine business designated in the first of the three classes of insurance named in section 379.010 shall commence or continue to do business until it has a surplus or guaranty fund of one million six hundred thousand dollars and agreements have been entered into for insurance with at least two hundred applicants, the premiums on which shall amount to not less than one hundred thousand dollars which shall have been paid in cash. Annual cash premiums shall not exceed five hundred dollars each, and no policy shall be issued for a longer term than five years.
2. Except that any mutual company formed upon the mutual plan for the purpose of doing the fire and marine business designated in the first of the three classes of insurance named in section 379.010 and licensed to do business in this state on July 1, 1987, which did not maintain an aggregate amount of at least one million six hundred thousand dollars as a guaranty fund or policyholders' surplus on December 31, 1986, may renew its license for business specified therein if it annually maintains agreements with two hundred applicants, the premiums from which amount to not less than one hundred thousand dollars, and if it maintains an aggregate amount of not less than eight hundred thousand dollars as a guaranty fund or policyholders' surplus, if all other conditions have been met, until December 31, 1989, at which time the provisions of subsection 1 of this section shall be met.
3. Violation of any of the provisions of this section by an insurer is grounds for the revocation of its certificate of authority by the director.
--------
(RSMo 1939 § 5919, A.L. 1963 p. 485, A.L. 1977 S.B. 368, A.L. 1987 H.B. 700)
Prior revisions: 1929 § 5808; 1919 § 6218; 1909 § 7009
Effective 7-01-87
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 379.085
What does Revised Statutes of Missouri § 379.085 cover?
Section 379.085 ("Mutual companies doing fire and marine business, agreements and securities — violation, penalty.") 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 § 379.085?
A common citation format is "Revised Statutes of Missouri § 379.085" (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 § 379.085 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.