Missouri Revised Statutes Title XXIV. Business and Financial Institutions § 380.431. Initial charge--guaranty fund to be maintained, how funded, purpose--policies providing for assessment of member--requirements

1. A company operating under the provisions of sections 380.201 to 380.591 may collect such fee and/or initial charge as the board of directors shall prescribe and shall collect a sufficient amount of money annually, or oftener, to enable it to pay losses and expenses, and, in accordance with the articles of incorporation and bylaws, to create and maintain a guaranty fund. The amount required shall be collected by assessments or through premiums charged by the company on such of its policies as the board of directors may prescribe. Members holding policies issued on the premium basis shall pay the stipulated premium at or before the time when the policy is issued and shall not be liable to assessment. Members holding policies not issued on the premium basis may be charged such advance assessment, payable at or before the time when the policy is issued as the board of directors may prescribe, but such members shall be liable to further assessment, if any shall be required, in accordance with the provisions of the company's articles of incorporation and sections 380.201 to 380.591. The terms and conditions of the assessment feature must be clearly disclosed in the policy.

2. The existence, maintenance and use of the guaranty fund shall be as provided in the articles of incorporation of the company. Such fund shall be available only for the payment of losses and expenses as the board of directors may deem necessary. The existence or maintenance of the fund shall not operate in any way to relieve any policyholder of any assessment or other obligation he may owe the company or which has been levied against him by the company. In the event the company be dissolved, the fund shall be treated in the same manner as any other asset of the company.