reglab/housing_qa huggingface dataset:
MO Rev Stat § 375.1188 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 375 - Provisions Applicable to All Insurance Companies|Section 375.1188 - Stay of other actions — liquidator may bring certain actions, when.

Effective - 28 Aug 1991   375.1188. Stay of other actions — liquidator may bring certain actions, when. — 1. Upon issuance of an order appointing a liquidator of a domestic insurer or of an alien insurer domiciled in this state, no action at law or equity or in arbitration shall be brought against the insurer or liquidator, whether in this state or elsewhere, nor shall any such existing actions be maintained or further presented after issuance of such order. The courts of this state shall give full faith and credit to injunctions against the liquidator or the company or the continuation of existing actions against the liquidator or the company, when such injunctions are included in an order to liquidate an insurer issued pursuant to corresponding provisions in other states. Whenever, in the liquidator's judgment, protection of the estate of the insurer necessitates intervention in an action against the insurer that is pending outside this state, he may intervene in the action. The liquidator may defend any action in which he intervenes pursuant to this section at the expense of the estate of the insurer.  2. The liquidator may, upon or after an order for liquidation, within ten years or such other longer time as applicable law may permit, institute an action or proceeding on behalf of the estate of the insurer upon any cause of action against which a period of limitation fixed by applicable law has not expired at the time of the filing of the petition upon which such order is entered. Where, by any agreement, a period of limitation is fixed for instituting a suit or proceeding upon any claim, or for filing any claims, proof of claim, proof of loss, demand, notice, or the like, or where in any proceeding, judicial or otherwise, a period of limitation is fixed, either in the proceeding or by applicable law, for taking any action, filing any claim or pleading, or doing any act, and where in any such case the period had not expired at the date of the filing of the petition, the expiration of such periods shall be stayed and the liquidator may, for the benefit of the estate, take any such action or do any such act, required of or permitted to the insurer, within a period of ten years subsequent to the entry of an order for liquidation, or within such further period as is shown to the satisfaction of the court not to be unfairly prejudicial to the other party.  3. No statute of limitation or defense of laches shall run with respect to any action against an insurer between the filing of a petition for liquidation against an insurer and the denial of the petition. Any action against the insurer that might have been commenced when the petition was filed may be commenced for at least sixty days after the petition is denied. ­­-------- (L. 1991 H.B. 385, et al. § 73)
MO Rev Stat § 375.1190 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 375 - Provisions Applicable to All Insurance Companies|Section 375.1190 - List of insurer's assets to be prepared — filing — not needed, when.

Effective - 28 Aug 1991   375.1190. List of insurer's assets to be prepared — filing — not needed, when. — 1. As soon as practicable after the liquidation order but not later than one hundred twenty days thereafter, the liquidator shall prepare in duplicate a list of the insurer's assets. The list shall be amended or supplemented from time to time as the liquidator may determine. One copy shall be filed with the clerk of the court and one copy shall be retained for the liquidator's files. All amendments and supplements shall be similarly filed.  2. The liquidator may reduce the assets to a degree of liquidity that is consistent with the effective execution of the liquidation.  3. A submission to the court for disbursement of assets in accordance with section 375.1205 fulfills the requirements of subsection 1 of this section. ­­-------- (L. 1991 H.B. 385, et al. § 74)
MO Rev Stat § 375.1196 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 375 - Provisions Applicable to All Insurance Companies|Section 375.1196 - Claims of creditor, surrender of preference required.

Effective - 28 Aug 1991   375.1196. Claims of creditor, surrender of preference required. — 1. No claims of a creditor who has received or acquired a preference, lien, conveyance, transfer, assignment or encumbrance voidable under sections 375.1150 to 375.1246 shall be allowed unless he surrenders the preference, lien, conveyance, transfer, assignment or encumbrance. If an avoidance is effected by a proceeding in which a final judgment has been entered, the claim shall not be allowed unless the money is paid or the property is delivered to the liquidator within thirty days from the date of the entry of judgment, except that the court having jurisdiction over the liquidation may allow further time if there is an appeal or other continuation of the proceeding.  2. A claim allowable under subsection 1 of this section by reason of the avoidance, whether voluntary or involuntary, of a preference, lien, conveyance, transfer, assignment or encumbrance, may be filed as an excused late filing under section 375.1206 if filed within thirty days from the date of the avoidance, or within the further time allowed by the court under subsection 1 of this section. ­­-------- (L. 1991 H.B. 385, et al. § 78)
MO Rev Stat § 375.1198 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 375 - Provisions Applicable to All Insurance Companies|Section 375.1198 - Mutual credits or debts, setoffs allowed — exceptions.

Effective - 28 Aug 2004   375.1198. Mutual credits or debts, setoffs allowed — exceptions. — 1. Mutual debts or mutual credits, whether arising out of one or more contracts, between the insurer and another person in connection with any action or proceeding under sections 375.1150 to 375.1246, sections 374.216 and 374.217, and section 382.302 shall be set off and the balance only shall be allowed or paid, except as provided in subsections 2 and 3* of this section and section 375.1204.  2. No setoff shall be allowed in favor of any person where:  (1) The obligation of the insurer to the person would not as of the date of the filing of a petition for liquidation entitle the person to share as a claimant in the assets of the insurer; or  (2) The obligation of the insurer to the person was purchased by or transferred to the person with a view to its being used as a setoff; or  (3) The obligation of the person is to pay an assessment levied against the members or subscribers of the insurer, or is to pay a balance upon a subscription to the capital stock of the insurer, or is in any other way in the nature of a capital contribution; or  (4) The obligation of the insurer is owed to an affiliate of such person or to any entity or association, rather than the person; or  (5) The obligation of the person is owed to an affiliate of the insurer or to any other entity or association, rather than the insurer; or  (6) The obligations between the person and the insurer arise from reinsurance relationships resulting in business where either the person or the insurer has assumed risks and obligations from the other party and then has ceded back to that party substantially the same risks and obligations.  3. The provisions of this section shall apply to all obligations incurred under contracts entered into, renewed, or extended on or after July 1, 1992, and to any existing contract with a termination date longer than one year from January 1, 1993. ­­-------- (L. 1991 H.B. 385, et al. § 79, A.L. 2004 H.B. 1253 merged with S.B. 1235)  *Subsections 3, 4, and 5 were deleted and subsection 6 was renumbered by H.B. 1253 and S.B. 1235, 2004.
MO Rev Stat § 375.1202 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 375 - Provisions Applicable to All Insurance Companies|Section 375.1202 - Reinsurers, amounts recoverable not reduced due to delinquency proceedings — exceptions.

Effective - 28 Aug 2002   375.1202. Reinsurers, amounts recoverable not reduced due to delinquency proceedings — exceptions. — 1. The amount recoverable by the liquidator from reinsurers shall not be reduced as a result of the delinquency proceedings, regardless of any provision in the reinsurance contract or other agreement. Payment made directly to an insured or other creditor shall not diminish the reinsurer's obligation to the insurer's estate except where:  (1) The reinsurance contract specifically provides for payment to the named insured, assignee or named beneficiary of the policy issued by the ceding insurer in the event of the ceding insurer's insolvency; or  (2) The assuming insurer, with the consent of the direct insured or insureds, has directly assumed the ceding insurer's policy obligations to the payees under such policies in substitution for the ceding insurer's obligations to such payees.  2. Notwithstanding subsection 1 of this section, in the event that a life and health insurance guaranty association has made the election to succeed to the rights and obligations of the insolvent insurer under the contract of reinsurance, then the reinsurer's liability to pay covered reinsured claims shall continue under the contract of reinsurance, subject to the payment to the reinsurer of the reinsurance premiums for such coverage. Payment for such reinsured claims shall only be made by the reinsurer pursuant to the direction of the guaranty association or its designated successor. Any payment made at the direction of the guaranty association or its designated successor by the reinsurer will discharge the reinsurer of all further liability to any other party for said claim payment. ­­-------- (L. 1991 H.B. 385, et al. § 81, A.L. 2002 H.B. 1568)
MO Rev Stat § 375.1204 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 375 - Provisions Applicable to All Insurance Companies|Section 375.1204 - Payment of unearned premiums required — violation, penalties.

Effective - 28 Aug 2007   375.1204. Payment of unearned premiums required — violation, penalties. — 1. A producer, premium finance company, or any other person, other than the insured, responsible for the payment of a premium, shall be obligated to pay any unpaid earned premium due the insurer at the time of the declaration of insolvency as shown on the records of the insurer. The liquidator shall also have the right to recover from such person any part of an unearned premium that represents commission of such person. Credits or setoffs or both shall not be allowed to a producer or premium finance company for any amounts advanced to the insurer by the producer or premium finance company on behalf of, but in the absence of a payment by the insured. An insured shall be obligated to pay any unpaid earned premium due the insurer at the time of the declaration of insolvency, as shown on the records of the insurer.  2. If the director determines that a person has engaged, is engaging in, or has taken a substantial step toward engaging in an act, practice or course of business constituting a violation of this section or a rule adopted or order issued pursuant thereto, or that a person has materially aided or is materially aiding an act, practice, omission, or course of business constituting a violation of this section or a rule adopted or order issued pursuant thereto, the director may issue such administrative orders as authorized under section 374.046. A violation of this section is a level one violation under section 374.049. The director may also suspend, revoke, or refuse to renew any license issued by the director to any offending person for any willful violation.  3. If the director believes that a person has engaged, is engaging in, or has taken a substantial step toward engaging in an act, practice or course of business constituting a violation of this section or a rule adopted or order issued pursuant thereto, or that a person has materially aided or is materially aiding an act, practice, omission, or course of business constituting a violation of this section or a rule adopted or order issued pursuant thereto, the director may maintain a civil action for relief authorized under section 374.048. A violation of this section is a level one violation under section 374.049. ­­-------- (L. 1991 H.B. 385, et al. § 82, A.L. 2007 S.B. 66)
MO Rev Stat § 375.1206 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 375 - Provisions Applicable to All Insurance Companies|Section 375.1206 - Proof of claim, filed when — effect of late filing.

Effective - 28 Aug 1992   375.1206. Proof of claim, filed when — effect of late filing. — 1. Proof of all claims shall be filed with the liquidator in the form required by section 375.1208 on or before the last day for filing specified in the notice required under section 375.1185, except that proofs of claim for cash surrender values or other investment values in life insurance and annuities need not be filed unless the liquidator expressly so requires. However, only upon application of the liquidator, the court may allow alternative procedures and requirements for the filing of proofs of claim or for allowing or proving claims. Upon such application, if the court dispenses with the requirement of filing a proof of claim by a person, class or group of persons, a proof of claim for such persons shall be deemed as having been filed for all purposes, including the application of guaranty association or foreign guaranty association laws.  2. The liquidator, in his absolute discretion, may permit a claimant making a late filing to share in distributions, whether past or future, as if he were not late, to the extent that any such payment will not prejudice the orderly administration of the liquidation, under any of the following circumstances:  (1) The existence of the claim was not known to the claimant and that he filed this claim as promptly thereafter as reasonably possible after learning of it;  (2) A transfer to a creditor was avoided pursuant to sections 375.1192 to 375.1195, or was voluntarily surrendered pursuant to section 375.1196, and that the filing satisfies the conditions of section 375.1196; or  (3) The valuation pursuant to section 375.1216 of security held by a secured creditor shows a deficiency, which is filed within thirty days after the valuation.  3. The liquidator, in his absolute discretion, may consider any claim filed late which is not covered by subsection 2 of this section, and permit the claimant to receive distributions which are subsequently declared on any claims of the same or lower priority if the payment does not prejudice the orderly administration of the liquidation. The late filing claimant shall receive, at each distribution, the same percentage of the amount allowed on his claim as is then being paid to claimants of any lower priority. These distributions shall continue until his claim has been paid in full. ­­-------- (L. 1991 H.B. 385, et al. § 84, A.L. 1992 H.B. 1574)
MO Rev Stat § 375.1208 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 375 - Provisions Applicable to All Insurance Companies|Section 375.1208 - Form of proof of claim — liquidator may request additional information — effect of incomplete information.

Effective - 28 Aug 1991   375.1208. Form of proof of claim — liquidator may request additional information — effect of incomplete information. — 1. Proof of claim shall consist of a statement signed by the claimant that includes all of the following that are applicable:  (1) The basis of the claim including the consideration given for it;  (2) The identity and amount of the security on the claim;  (3) The payments made on the debt, if any;  (4) That the sum claimed is justly owing and that there is no setoff, counterclaim or defense to the claim;  (5) Any right of priority of payment or other specific rights asserted by the claimants;  (6) A copy of the written instrument on which the claim is based; and  (7) The name and address of the claimant and the attorney who represents him, if any.  2. No claim need be considered or allowed if it does not contain all the information in subsection 1 of this section which may be applicable. The liquidator may require that a prescribed form be used, and may require that other information and documents be included. The court before which the liquidation proceedings are pending may establish by court order or local court rule additional claims procedures which are not contrary to the provisions of law or supreme court rule.  3. At any time the liquidator may request the claimant to present information or evidence supplementary to that required under subsection 1 of this section and may take testimony under oath, require production of affidavits or depositions, or otherwise obtain additional information or evidence.  4. No judgment or order against an insured or the insurer entered after the date of filing of a successful petition for liquidation, and no judgment or order against an insured or the insurer entered at any time by default or by collusion need be considered as evidence of liability or of the amount of damages. No judgment or order against an insured or the insurer entered within four months before the filing of the petition need be considered as evidence of liability or of the amount of damages.  5. All claims of a guaranty association or foreign guaranty association shall be in such form and contain such substantiation as may be agreed to by the association and the liquidator. ­­-------- (L. 1991 H.B. 385, et al. § 85)
MO Rev Stat § 375.1210 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 375 - Provisions Applicable to All Insurance Companies|Section 375.1210 - Contingent claims, allowed when, exceptions.

Effective - 28 Aug 1991   375.1210. Contingent claims, allowed when, exceptions. — 1. The claim of a third party which is contingent only on his first obtaining a judgment against the insured shall be considered and allowed as if there were no such contingency.  2. A claim may be allowed even if contingent, if it is filed in accordance with section 375.1206. It may be allowed and may participate in all distributions declared after it is filed to the extent that it does not prejudice the orderly administration of the liquidation.  3. Claims that are due except for the passage of time shall be treated as absolute claims are treated, except that such claims may be discounted at the legal rate of interest for judgments.  4. Claims made under employment contracts by directors, principal officers, or persons in fact performing similar functions or having similar powers are limited to payment for services rendered prior to the issuance of any order of rehabilitation or liquidation under section 375.1168 or 375.1176. ­­-------- (L. 1991 H.B. 385, et al. § 86)
MO Rev Stat § 375.1214 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 375 - Provisions Applicable to All Insurance Companies|Section 375.1214 - Denial of claim — appeal procedure.

Effective - 28 Aug 1991   375.1214. Denial of claim — appeal procedure. — 1. When a claim is denied in whole or in part by the liquidator, written notice of the determination shall be given to the claimant or his attorney by first class mail at the address shown in the proof of claim. Within sixty days from the mailing of the notice, the claimant may file his objections with the liquidator. If no such filing is made the claimant may not further object to the determination.  2. Whenever objections are filed with the liquidator and the liquidator does not alter his denial of the claim as a result of the objections, the liquidator shall ask the court for a hearing as soon as practicable and give notice of the hearing by first class mail to the claimant or his attorney and to any other persons directly affected, not less than ten nor more than thirty days before the date of the hearing. The matter may be heard by the court or by a court-appointed referee. Hearings before court-appointed referees shall be conducted in an informal manner and the formal rules of evidence shall not apply. The referee shall submit written findings of fact and conclusions of law along with his recommendation for disposition which shall become final if a motion for reconsideration before the court is not filed by the liquidator or claimant with the court within fifteen days that notice of such findings and conclusions is mailed to the parties. The motion for reconsideration shall allege either the existence of new facts which could not, with reasonable diligence, have been discovered and presented before the referee, or such erroneous conclusions of law, that would justify reconsideration of the claim by the court. A motion for reconsideration based upon erroneous conclusions of law may be decided by the court, after opportunity for response by the prevailing party, without necessity of hearing. A motion for reconsideration not ruled upon by the court within ninety days after the motion is filed shall be deemed denied for purposes of appeal. ­­-------- (L. 1991 H.B. 385, et al. § 88)
MO Rev Stat § 375.1215 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 375 - Provisions Applicable to All Insurance Companies|Section 375.1215 - Subrogated claim, allowed when.

Effective - 28 Aug 1991   375.1215. Subrogated claim, allowed when. — Whenever a creditor whose claim against an insurer is secured, in whole or in part, by the undertaking of another person, fails to prove and file that claim, the other person may do so in the creditor's name, and shall be subrogated to the rights of the creditor, whether the claim has been filed by the creditor or by the other person in the creditor's name, to the extent that he discharges the undertaking. In the absence of an agreement with the creditor to the contrary, the other person shall not be entitled to any distribution, however, until the amount paid to the creditor on the undertaking plus the distributions paid on the claim from the insurer's estate to the creditor equals the amount of the entire claim of the creditor. Any excess received by the creditor shall be held by him in trust for such other person. The term "other person", as used in this section, is not intended to apply to a guaranty association or foreign guaranty association. ­­-------- (L. 1991 H.B. 385, et al. § 89)
MO Rev Stat § 375.1216 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 375 - Provisions Applicable to All Insurance Companies|Section 375.1216 - Valuation of security, procedure.

Effective - 28 Aug 1991   375.1216. Valuation of security, procedure. — 1. The value of any security held by a secured creditor shall be determined in one of the following ways, as the court may direct:  (1) By converting the same into money according to the terms of the agreement pursuant to which the security was delivered to such creditors; or  (2) By agreement, arbitration, compromise or litigation between the creditor and the liquidator.  2. The determination shall be under the supervision and control of the court with due regard for the recommendation of the liquidator. The amount so determined shall be credited upon the secured claim, and any deficiency shall be treated as an unsecured claim. If the claimant shall surrender his security to the liquidator, the entire claim shall be allowed as if unsecured. ­­-------- (L. 1991 H.B. 385, et al. § 90)