reglab/statecodes huggingface dataset:
2023 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.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• 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.
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(L. 1991 H.B. 385, et al. § 73)
2023 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.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• 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.
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(L. 1991 H.B. 385, et al. § 74)
2023 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.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• 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.
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(L. 1991 H.B. 385, et al. § 78)
2023 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.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• 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.
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(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.
2023 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.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• 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.
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(L. 1991 H.B. 385, et al. § 81, A.L. 2002 H.B. 1568)
2023 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.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• 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.
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(L. 1991 H.B. 385, et al. § 82, A.L. 2007 S.B. 66)
2023 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.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• 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.
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(L. 1991 H.B. 385, et al. § 84, A.L. 1992 H.B. 1574)
2023 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.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• 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.
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(L. 1991 H.B. 385, et al. § 85)
2023 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.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• 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.
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(L. 1991 H.B. 385, et al. § 86)
2023 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.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• 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.
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(L. 1991 H.B. 385, et al. § 88)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.1215 - Subrogated claim, allowed when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• 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.
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(L. 1991 H.B. 385, et al. § 89)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.1216 - Valuation of security, procedure.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• 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.
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(L. 1991 H.B. 385, et al. § 90)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.1219 - Claims allocated to separate account not chargeable with liabilities, when — treated as class 2 claim, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1993
375.1219. Claims allocated to separate account not chargeable with liabilities, when — treated as class 2 claim, when. —
All claims under policies, contracts or agreements for which assets have been allocated to a separate account established pursuant to section 376.309 and which provide, in effect, that the assets allocated to the separate account shall not be chargeable with liabilities arising out of any other business of the insurer, shall be satisfied out of the assets allocated to the separate account equal to the reserves maintained in such account for such policy, contract or agreement and to the extent, if any, not fully discharged thereby, shall be treated as class 2 claims against the estate of the insurer pursuant to the provisions of section 375.1218.
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(L. 1993 H.B. 709)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.1222 - Payment of claims — duties of liquidator.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1992
375.1222. Payment of claims — duties of liquidator. —
Under the direction of the court, the liquidator shall pay distributions in a manner that will assure the proper recognition of the priorities and a reasonable balance between the expeditious completion of the liquidation and the protection of unliquidated and undetermined claims, including third party claims. Distribution of assets in kind may be made at valuations set by agreement between the liquidator and the creditor and shall be approved by the court. This section shall be applicable to proceedings instituted before and after August 28, 1991.
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(L. 1991 H.B. 385, et al. § 93, A.L. 1992 H.B. 1574)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.1224 - Unclaimed funds, deemed unclaimed property — effect.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1992
375.1224. Unclaimed funds, deemed unclaimed property — effect. —
1. All unclaimed funds subject to distribution remaining in the liquidator's hands when he is ready to apply to the court for discharge, including the amount distributable to any creditor, shareholder, member or other person who is unknown or cannot be found, shall be deposited with the director of the department of economic development to be held and disposed of as provided by laws for unclaimed property.
2. All funds withheld under section 375.1212 which are not distributed shall upon discharge of the liquidator be deposited with the director of the department of economic development as provided by laws for unclaimed property and distributed by him in accordance with section 375.1218. Any sums remaining which under section 375.1218 would revert to the undistributed assets of the insurer shall be converted to cash and paid to the state treasurer for deposit to the general revenue fund of the state.
3. This section shall be applicable to proceedings instituted before and after August 28, 1991.
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(L. 1991 H.B. 385, et al. § 94, A.L. 1992 H.B. 1574)
CROSS REFERENCE:
Dissolution of business, unclaimed intangible personal property presumed abandoned, when, 447.527
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.1225 - Discharge of liquidator, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1992
375.1225. Discharge of liquidator, when. —
When all assets justifying the expense of collection and distribution have been collected and distributed under sections 375.1150 to 375.1246, the liquidator shall apply to the court for discharge. The court may grant the discharge and make any other orders, including an order to transfer any remaining funds that are uneconomical to distribute pursuant to section 375.1224, as may be deemed appropriate. This section shall be applicable to proceedings instituted before and after August 28, 1991.
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(L. 1991 H.B. 385, et al. § 95, A.L. 1992 H.B. 1574)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.1226 - Reopening of proceedings, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1992
375.1226. Reopening of proceedings, when. —
After the liquidation proceeding has been terminated and the liquidator discharged, the director or other interested party may at any time petition the court to reopen the proceedings for good cause, including the discovery of additional assets. If the court is satisfied that there is justification for reopening, it shall so order. The provisions of this section shall apply to delinquency proceedings instituted before and after August 28, 1991.
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(L. 1991 H.B. 385, et al. § 96, A.L. 1992 H.B. 1574)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.1228 - Records may be destroyed after discharge, exceptions.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1991
375.1228. Records may be destroyed after discharge, exceptions. —
1. Whenever it shall appear to the director that the records of any insurer after discharge of the liquidator are no longer useful, he may, after complying with sections 109.200 to 109.310, recommend to the court and the court shall direct what records should be retained for future reference and what should be destroyed, provided that the following records shall be retained for five years after the date of discharge:
(1) Financial records regarding administration of the estate;
(2) Records of claims and allowances or disallowances thereof.
2. Notwithstanding the provisions of section 375.1158, the provisions of this section shall apply to delinquency proceedings commenced before and after August 28, 1991.
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(L. 1991 H.B. 385, et al. § 97)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.1230 - Audit of receivership may be ordered, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1991
375.1230. Audit of receivership may be ordered, when. —
The court may, as it deems desirable, cause audits to be made of the books of the receiver relating to any receivership established under sections 375.1150 to 375.1246, and a report of each audit shall be filed with the receiver and with the court. The books, records and other documents of the receivership shall be made available to the auditor at any time without notice. The expenses of each audit shall be considered a cost of administration of the receivership.
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(L. 1991 H.B. 385, et al. § 98)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.1232 - Foreign insurers, director may petition to act as conservator, procedures — court may issue order — termination of conservatorship, application for.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1991
375.1232. Foreign insurers, director may petition to act as conservator, procedures — court may issue order — termination of conservatorship, application for. —
1. If a domiciliary liquidator has not been appointed, the director may apply to the circuit court of Cole County by verified petition for an order directing him to act as conservator to conserve the property of an alien insurer not domiciled in this state or a foreign insurer on any one or more of the following grounds:
(1) Any of the grounds in section 375.1165;
(2) That any of its property has been sequestered by official action in its domiciliary state, or in any other state;
(3) That enough of its property has been sequestered in a foreign country to give reasonable cause to fear that the insurer is or may become insolvent;
(4) (a) That its certificate of authority to do business in this state has been revoked or that none was ever issued; and
(b) That there are residents of this state with outstanding claims or outstanding policies.
2. When an order is sought under subsection 1 of this section, the court shall cause the insurer to be given such notice and time to respond thereto as is reasonable under the circumstances.
3. The court may issue the order in whatever terms it shall deem appropriate. The filing or recording of the order with the clerk of the court or the recorder of deeds of the county in which the principal business of the company is located, shall impart the same notice as a deed, bill of sale or other evidence of title duly filed or recorded with that recorder of deeds would have imparted.
4. The conservator may at any time petition for and the court may grant an order under section 375.1234 to liquidate assets of a foreign or alien insurer under conservation, or, if appropriate, for an order under section 375.1236, to be appointed ancillary receiver.
5. The conservator may at any time petition the court for an order terminating conservation of an insurer. If the court finds that the conservation is no longer necessary, it shall order that the insurer be restored to possession of its property and the control of its business. The court may also make such finding and issue such order at any time upon motion of any interested party, but if such motion is denied all costs shall be assessed against such party.
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(L. 1991 H.B. 385, et al. § 99)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.1234 - Foreign insurers, petition to liquidate assets, grounds — granted when — effects.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1991
375.1234. Foreign insurers, petition to liquidate assets, grounds — granted when — effects. —
1. If no domiciliary receiver has been appointed, the director may apply to the circuit court of Cole County by verified petition for an order directing him to liquidate the assets found in this state of a foreign insurer or an alien insurer not domiciled in this state, on any of the following grounds:
(1) Any of the grounds in section 375.1165 or 375.1175; or
(2) Any of the grounds specified in subdivisions (2), (3) and (4) of subsection 1 of section 375.1232.
2. When an order is sought under subsection 1 of this section, the court shall cause the insurer to be given such notice and time to respond thereto as is reasonable under the circumstances.
3. If it shall appear to the court that the best interests of creditors, policyholders and the public require, the court may issue an order to liquidate in whatever terms it shall deem appropriate. The filing or recording of the order with the clerk of the court or the recorder of deeds of the county in which the principal business of the company is located or the county in which its principal office or place of business is located, shall impart the same notice as a deed, bill of sale or other evidence of title duly filed or recorded with that recorder of deeds would have imparted.
4. If a domiciliary liquidator is appointed in a reciprocal state while a liquidation is proceeding under this section, the liquidator under this section shall thereafter act as ancillary receiver under section 375.1236. If a domiciliary liquidator is appointed in a nonreciprocal state while a liquidation is proceeding under this section, the liquidator under this section may petition the court for permission to act as ancillary receiver under section 375.1236.
5. On the same grounds as are specified in subsection 1 of this section, the director may petition any appropriate federal district court to be appointed receiver to liquidate that portion of the insurer's assets and business over which the court will exercise jurisdiction, or any lesser part thereof that the director deems desirable for the protection of the policyholders and creditors in this state.
6. The court may order the director, when he has liquidated the assets of a foreign or alien insurer pursuant to this section, to pay claims of residents of this state against the insurer under such rules as to the liquidation of insurers under sections 375.1150 to 375.1246, sections 374.216 and 374.217, and section 382.302 as are otherwise compatible with the provisions of this section.
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(L. 1991 H.B. 385, et al. § 100)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.1235 - Reciprocal state, powers and duties of domiciliary liquidator — nonreciprocal state, duties of director — claims filed, where.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1991
375.1235. Reciprocal state, powers and duties of domiciliary liquidator — nonreciprocal state, duties of director — claims filed, where. —
1. The domiciliary liquidator of an insurer domiciled in a reciprocal state shall, except as to the special deposits and security on secured claims under subsection 3 of section 375.1236, be vested by operation of law with the title to all of the assets, property, contracts and rights of action, agents' balances, and all of the books, accounts and other records of the insurer located in this state. The date of vesting shall be the date of the filing of the petition, if that date is specified by the domiciliary law for the vesting of property in the domiciliary state. Otherwise, the date of vesting shall be the date of entry of the order directing possession to be taken. The domiciliary liquidator shall have the immediate right to recover balances due from agents and to obtain possession of the books, accounts and other records of the insurer located in this state. He also shall have the right to recover all other assets of the insurer located in this state, subject to section 375.1236.
2. If a domiciliary liquidator is appointed for an insurer not domiciled in a reciprocal state, the director shall be vested by operation of law with the title to all of the property, contracts and right of action, and all of the books, accounts and other records of the insurer located in this state, at the same time that the domiciliary liquidator is vested with title in the domicile. The director may petition for a conservation or liquidation order under section 375.1232 or 375.1234, or for an ancillary receivership under section 375.1236, or after approval by the court may transfer title to the domiciliary liquidator, as the interests of justice and the equitable distribution of the assets require.
3. Claimants residing in this state may file claims with the liquidator or ancillary receiver, if any, in this state or with the domiciliary liquidator, if the domiciliary law permits. The claims must be filed on or before the last date fixed for the filing of claims in the domiciliary liquidation proceedings.
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(L. 1991 H.B. 385, et al. § 101)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.1238 - Power of director to institute proceedings, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1992
375.1238. Power of director to institute proceedings, when. —
The director in his sole discretion may institute proceedings under sections 375.1160 to 375.1164 at the request of the director of the state department of commerce and insurance, or other appropriate insurance official of the domiciliary state of any foreign or alien insurer having property located in this state.
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(L. 1991 H.B. 385, et al. § 103, A.L. 1992 H.B. 1574)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.1240 - Nonresident claims, filed where.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1991
375.1240. Nonresident claims, filed where. —
1. In a liquidation proceeding begun in this state against an insurer domiciled in this state, claimants residing in foreign countries or in states which are not reciprocal states must file claims in this state, and claimants residing in reciprocal states may file claims either with the ancillary receivers, if any, in their respective states, or with the domiciliary liquidator. Claims must be filed on or before the last date fixed for the filing of claims in the domiciliary liquidation proceedings.
2. Claims belonging to claimants residing in reciprocal states may be proved either in the liquidation proceeding in this state as provided in sections 375.1150 to 375.1246, or in ancillary proceedings, if any, in the reciprocal states. If notice of the claims and opportunity to appear and be heard is afforded the domiciliary liquidator of this state as provided in subsection 2 of section 375.1242 with respect to ancillary proceedings, the final allowance of claims by the courts in ancillary proceedings in reciprocal states shall be conclusive as to amount and as to priority against special deposits or other security located in such ancillary states, but shall not be conclusive with respect to priorities against general assets as provided in section 375.1218.
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(L. 1991 H.B. 385, et al. § 104)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.1242 - Proof of claims, nonresident insurer — procedures.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1991
375.1242. Proof of claims, nonresident insurer — procedures. —
1. In a liquidation proceeding in a reciprocal state against an insurer domiciled in that state, claimants against the insurer who reside within this state may file claims either with the ancillary receiver, if any, in this state, or with the domiciliary liquidator. Claims must be filed on or before the last dates fixed for the filing of claims in the domiciliary liquidation proceeding.
2. Claims belonging to claimants residing in this state may be proved either in the domiciliary state under the law of that state, or in ancillary proceedings, if any, in this state. If a claimant elects to prove his claim in this state, he shall file his claim with the liquidator in the manner provided in sections 375.1206 and 375.1208. The ancillary receiver shall make his recommendation to the court as provided by section 375.1220. He shall also arrange a date for hearing if necessary under section 375.1214 and shall give notice to the liquidator in the domiciliary state, either by certified mail or by personal service at least forty days prior to the date set for hearing. If the domiciliary liquidator, within thirty days after the giving of such notice, gives notice in writing to the ancillary receiver and to the claimant, either by certified mail or by personal service, of his intention to contest the claim, he shall be entitled to appear or to be represented in any proceeding in this state involving the adjudication of the claim.
3. The final allowance of the claim by the courts of this state shall be accepted as conclusive as to amount and as to priority against special deposits or other security located in this state.
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(L. 1991 H.B. 385, et al. § 105)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.1244 - Stay of actions during liquidation proceedings.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1991
375.1244. Stay of actions during liquidation proceedings. —
During the pendency in this or any other state of a liquidation proceeding, whether called by that name or not, no action or proceeding in the nature of an attachment, garnishment or levy of execution shall be commenced or maintained in this state against the delinquent insurer or its assets.
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(L. 1991 H.B. 385, et al. § 106)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.1245 - Priority of nonresident claims, reciprocal states — special deposits, priority.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1991
375.1245. Priority of nonresident claims, reciprocal states — special deposits, priority. —
1. In a liquidation proceeding in this state involving one or more reciprocal states, the order of distribution of the domiciliary state shall control as to all claims of residents of this and reciprocal states. All claims of residents of reciprocal states shall be given equal priority of payment from general assets regardless of where such assets are located.
2. The owners of special deposit claims against an insurer for which a liquidator is appointed in this or any other state shall be given priority against the special deposits in accordance with statutes governing the creation and maintenance of the deposits. If there is a deficiency in any deposit, so that the claims secured by it are not fully discharged from it, the claimants may share in the general assets, but the sharing shall be deferred until general creditors, and also claimants against other special deposits who have received smaller percentages from their respective special deposits, have been paid percentages of their claims equal to the percentage paid from the special deposit.
3. The owner of a secured claim against an insurer for which a liquidator has been appointed in this or any other state may surrender his security and file his claim as a general creditor, or the claim may be discharged by resort to the security in accordance with section 375.1218, in which case the deficiency, if any, shall be treated as a claim against the general assets of the insurer on the same basis as claims of unsecured creditors.
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(L. 1991 H.B. 385, et al. § 107)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.1246 - Nonresident ancillary receiver, claims filed with — priority.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1991
375.1246. Nonresident ancillary receiver, claims filed with — priority. —
If an ancillary receiver in another state or foreign country, whether called by that name or not, fails to transfer to the domiciliary liquidator in this state any assets within his control other than special deposits, diminished only by the allocated loss adjustment expenses of the ancillary receivership, if any, the claims filed in the ancillary receivership, other than special deposit claims or secured claims, shall be considered a class 7 claim as provided by section 375.1218.
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(L. 1991 H.B. 385, et al. § 108)