Missouri Revised Statutes Title XXIV. Business and Financial Institutions § 376.562. Charitable, benevolent, educational and religious organizations may be beneficiary or owner of policy, life insurance, when--fraud or coercion, exception

(1) An assignment or designation as beneficiary, a gift or assignment of an interest in life insurance in the life of a donor or assignor; or

(2) An ownership of an interest in life insurance on the life of an insured if the charitable, benevolent, educational or religious institution has obtained the consent of the person whose life is being insured, as required by section 376.531.