Missouri § 379.1308 - Approval for payment of dividends required.
Full text of Missouri Revised Statutes of Missouri § 379.1308 — Approval for payment of dividends required., with citation guidance and answers to common questions.
§ 379.1308. Approval for payment of dividends required.
No captive insurance company shall pay a dividend out of, or other distribution with respect to, capital or surplus without the prior approval of the director. Approval of an ongoing plan for the payment of dividends or other distributions shall be conditioned upon the retention, at the time of each payment, of capital or surplus in excess of amounts specified by or determined in accordance with formulas approved by the director. Notwithstanding the provisions of section 355.661, a captive insurance company organized under chapter 355 may make such distributions as are in conformity with its purposes and approved by the director.
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(L. 2007 S.B. 215)
---- end of effective 28 Aug 2007 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 379.1308
What does Revised Statutes of Missouri § 379.1308 cover?
Section 379.1308 ("Approval for payment of dividends required.") 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 § 379.1308?
A common citation format is "Revised Statutes of Missouri § 379.1308" (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 § 379.1308 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.