reglab/statecodes huggingface dataset:
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.321 - Director to review petition for merger — hearing to be held, when — procedure — costs.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.321. Director to review petition for merger — hearing to be held, when — procedure — costs. —
1. Whenever two companies propose to merge under the provisions of section 380.281 and their membership has approved the plan of merger, a petition shall be presented to the director, accompanied by the articles of merger, and praying for the approval or modification of the plan of merger.
2. The director shall review the petition and may waive any hearing if he finds the proposed merger does not prejudice the interests of the policyholders of the companies.
3. If the director deems it necessary, he shall issue an order of notice, requiring notice to be given, to the policyholders of the company, of the pendency of the petition, and the time and place at which the same will be heard, by publication of the order of notice in not less than two daily newspapers designated by the director, at least one of which shall be published in the city of Jefferson City, for at least once a week for two successive weeks on the same day of each week, the last notice appearing not more than five calendar days before the time appointed for the hearing upon the petition and any further notice which the director may require to be given by the petitioners.
4. At the time and place fixed in the notice, or at such time and place as shall be fixed by order of the director, or by recess from time to time or adjournment, the director shall proceed with the hearing, and may make such examination into the affairs and conditions of the companies as is proper. The director may summon and compel the attendance and testimony of witnesses and the production of books and papers at the hearing. Any policyholder or member of the company or companies or any member of the public with an interest may appear at the hearing and be heard in reference to the petition.
5. The director, if satisfied that the interests of the policyholders of the companies are properly protected, and that no reasonable objections exist thereto, may approve and authorize the proposed merger, or order such modification thereof as may seem best for the interests of the policyholders.
6. Expenses and costs incident to the proceeding under the provisions of this section shall be paid by the company or companies bringing the petition upon order of the director.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.331 - Certificate of merger issued, when — director and secretary of state's duties.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.331. Certificate of merger issued, when — director and secretary of state's duties. —
1. Upon approval or modification of the plan of merger, the director shall certify a copy of his order of approval and two copies of the articles of merger and forward same to the secretary of state.
2. When all required taxes or fees have been paid, the secretary of state shall file the same keeping one copy as a permanent record and shall issue a certificate of merger and a certified copy of such certificate, to which he shall affix the other copy of such articles.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.341 - Merger effective when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.341. Merger effective when. —
Upon the issuance of the certificate of merger by the secretary of state, the merger or consolidation shall be effected.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.351 - Certificate of merger returned to whom.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.351. Certificate of merger returned to whom. —
The certificate of merger and certified copy thereof, with a copy of the articles of merger affixed thereto by the secretary of state, shall be returned to the surviving corporation or new corporation, as the case may be, or to its representative.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.361 - Surviving corporation after merger, rights and liabilities.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.361. Surviving corporation after merger, rights and liabilities. —
1. The several corporations parties to the plan of merger shall be a single corporation, which shall be that corporation designated in the plan of merger as the surviving corporation.
2. The separate existence of all corporations parties to the plan of merger except the surviving corporation shall cease.
3. The surviving corporation shall have all the rights, privileges, immunities, and powers and shall be subject to all the duties and liabilities of a corporation organized under the provisions of sections 380.201 to 380.591.
4. The surviving corporation shall thereupon and thereafter possess all the rights, privileges, immunities and franchises, of a public as well as of a private nature, of each of the merging corporations; and all property, real, personal, and mixed, and all debts due on whatever account and all other choses in action, and all and every other interest, of or belonging to or due to each of the corporations so merged shall be taken and deemed to be transferred to and vested in the single corporation without further act or deed; and the title to any real estate, or any interest therein, under the laws of this state vested in any of the corporations shall not revert or be in any manner impaired by reason of the merger.
5. The surviving corporation shall thenceforth be responsible and liable for all the liabilities and obligations of each of the corporations so merged; and any claim existing or action or proceeding pending by or against any of the corporations may be prosecuted to judgment as if the merger had not taken place, or the surviving corporation may be substituted in its place. Neither the rights of creditors nor any liens upon the property of any of the corporations shall be impaired by the merger.
6. The articles of incorporation of the surviving corporation shall be deemed to be amended to the extent, if any, that changes in its articles are stated in the articles of merger.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.371 - Powers of a company, generally.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.371. Powers of a company, generally. —
Subject to the provisions of sections 380.201 to 380.591 every company operating hereunder shall have all the powers of a corporate body, including but not limited to the following: To borrow money; to sue and be sued; to make contracts of insurance or indemnity with any person, firm, public or private corporation, board, association or estate or any trustee or legal representative of the same; to cede reinsurance to and/or accept it from any company lawfully operating in this state or elsewhere; to participate with other insurance companies in pools or plans for reinsurance or catastrophe protection; to prescribe the qualifications and the manner and form of the admission or withdrawal of the members; to have and to use a common seal which may be changed or altered at pleasure; to be capable in its corporate name, or in the name of a trustee chosen by the board of directors, to take, purchase, lease, hold and dispose of real or personal property for carrying into effect the purpose of the corporation; to classify risks according to the hazards involved, to establish rates according to such classification and to make all lawful rules and regulations concerning the acceptability of any risk or risks, the hazards insured, the payments to be required, and the adjustment and payment of losses; to fix the compensation of its directors and officers and require bond for the faithful performance of their duties; to adopt or amend bylaws, policy and application forms not inconsistent with law or the provisions of the articles of incorporation, and to exercise all such other powers as may be necessary, proper or convenient to effect the purposes of such company.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.381 - Board of directors, election — terms — vacancies — annual meeting, quorum, voting rights.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.381. Board of directors, election — terms — vacancies — annual meeting, quorum, voting rights. —
1. The management of any company operating under the provisions of sections 380.201 to 380.591 shall be vested as provided in the articles of incorporation in a board of at least five directors each of whom shall be the owner of property insured in the company. Directors shall be elected by a majority vote of the members voting at the annual meeting of the members for a term of not less than one year nor more than seven years; however, the articles of incorporation may provide for the classification of directors into three groups the terms of which expire in different years. Vacancies in the board may be filled for the unexpired term by the remaining directors.
2. The annual meeting of the members of the company shall be held annually as provided in the articles of incorporation. A quorum shall consist of such number of members not less than eight as the articles of incorporation may provide. Each member of the company shall be entitled to one vote in all meetings of members. Votes by proxy may be received if the articles of incorporation so provide but only in accordance therewith.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.391 - Misuse of company assets for private gain, penalty.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 2017, 2 histories, see footnote
380.391. Misuse of company assets for private gain, penalty. —
1. It is unlawful for any officer, director, member, agent or employee of any company operating under the provisions of sections 380.201 to 380.611 to directly or indirectly use or employ, or permit others to use or employ, any of the money, funds or securities of the company for private profit or gain.
2. Any person who willfully engages in any act, practice, omission, or course of business in violation of this section is guilty of a class E felony.
3. The director may refer such evidence as is available concerning violations of this section to the proper prosecuting attorney, who with or without a criminal reference, or the attorney general under section 27.030, may institute the appropriate criminal proceedings.
4. Nothing in this section shall limit the power of the state to punish any person for any conduct that constitutes a crime in any other state statute.
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(L. 1984 H.B. 1498, A.L. 2007 S.B. 66, A.L. 2014 S.B. 491)
Effective 1-01-17
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.401 - Record of investigations of company operations by director — violations, duties of prosecutor or attorney general.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.401. Record of investigations of company operations by director — violations, duties of prosecutor or attorney general. —
1. The director shall, as he may deem proper, make careful inquiry and investigation as to the manner in which the money, funds or securities of companies operating under the provisions of sections 380.201 to 380.591 are invested or employed, and record the result of such inquiry or investigation in records kept in his office for the inspection of policyholders and public officials.
2. In the event of a violation of the provisions of section 380.391, the prosecuting attorney of the proper county, or the attorney general of this state shall proceed at once by information or indictment against the offenders.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.411 - Officers, how selected, tenure.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.411. Officers, how selected, tenure. —
Unless the articles of incorporation shall provide otherwise concerning the election of such officers, the directors shall elect from their number a president and a vice president. The directors shall also select a secretary and treasurer and such additional officers as they may deem necessary, who may or may not be members of the company. The offices of secretary and treasurer may be occupied by one person. Unless otherwise provided in the articles of incorporation, the term of all of such officers shall be not less than one year nor more than three years and until their successors are elected or selected and qualified.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.421 - Membership in a company, eligibility.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 28 Aug 1984
380.421. Membership in a company, eligibility. —
1. Any person having a risk insurable under the provisions of sections 380.201 to 380.591 in the territory in which the company operates may become a member of such company by insuring therein, and shall be entitled to all the rights and privileges appertaining thereto. Any public corporation, private corporation or quasi-corporation, and any board, commission, estate or association owning property within the territory of such company may make application, enter into agreements for and hold policies in any such company.
2. Any officer, trustee, board member or legal representative of any such corporation, board, estate or association may be recognized as acting for or on its behalf for the purpose of such membership, but shall not be personally liable upon such contract of insurance, by reason of acting in such representative capacity.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.431 - Initial charge — guaranty fund to be maintained, how funded, purpose — policies providing for assessment of member — requirements.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
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.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.441 - Liability of members — suspension of company liability during delinquency of members.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.441. Liability of members — suspension of company liability during delinquency of members. —
Each member of any company operating under the provisions of sections 380.201 to 380.591 shall be liable in accordance with the terms of his insurance contract or policy for his pro rata share of the amount necessary to pay all losses and expenses incurred during the time for which his respective policy is in force, and to create and maintain such guaranty fund as may be deemed necessary by the directors of such company. A company may in its articles of incorporation or bylaws provide for the suspension of its liability for loss under any policy while an assessment payment is delinquent and the payment of such assessment shall reinstate such policy only from the date of the receipt of such payment but no deduction or credit shall be made in any assessment because of such suspension.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.451 - Policyholder not liable for obligations after termination of policy — notice of assessment after termination.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.451. Policyholder not liable for obligations after termination of policy — notice of assessment after termination. —
A policyholder shall not be liable to assessment for any losses or expenses incurred by the company subsequent to the termination of his policy nor shall he be liable to assessment for any obligations incurred by the company prior to such termination unless notice of the assessment is given within one year after such termination.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.461 - Company may borrow to pay losses — assessment to pay loan.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.461. Company may borrow to pay losses — assessment to pay loan. —
The company may borrow money for the payment of accrued losses and expenses; but any sum necessary to pay the loan in full shall be included in the next assessment and the assessment shall be levied not later than twelve months after the incurring of the losses or expenses paid from the loan unless otherwise permitted by the director.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.471 - Approved investments.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 28 Aug 1990
380.471. Approved investments. —
Any company operating under the provisions of sections 380.201 to 380.591 may invest in bonds of the United States, or of this state, or of any county, or of any municipality of this state, or in improvement bonds issued for street improvements in any city or town of this state, or in bonds issued by any county of this state for the improvement of highways, or in notes, bonds, debentures or other similar obligations issued by the federal land banks, federal intermediate credit banks, or banks for cooperatives or any other obligations issued pursuant to the provisions of an act of the Congress of the United States known as the Farm Credit Act of 1971, and acts amendatory thereto, or in bonds issued by building and loan funds, mutual investment fund, or in bonds or mortgages upon unencumbered real estate in this state or in any other state provided such real estate shall be worth at least twice the amount loaned thereon. The value of such real estate shall be determined by a valuation made under oath by two residents of the county where the real estate is located, and if buildings are considered as part of the value of such real estate, they shall be insured for the benefit of the mortgagee. To constitute a proper investment, county, city, town, school district, sanitary district or other political subdivision bonds or other evidence of indebtedness must be issued by authority of the law, and interest thereon must not be in default. Any company operating under sections 380.201 to 380.591 may also invest in certificates of deposit issued by any bank, savings and loan, or credit union, in an amount which is fully insured, and may loan or advance money to any other insurance company, provided that each such loan or advancement shall not exceed an amount equal to fifty percent of the average annual income of the borrowing company during the last five-year period. Any company may make such other investments as may be approved by the director.
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(L. 1984 H.B. 1498, A.L. 1990 H.B. 1070)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.482 - Annual statement of company.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.482. Annual statement of company. —
Every company operating under sections 380.201 to 380.591, on or before the first day of March in each year, shall prepare an annual statement on a form prescribed by the director, verified by the affidavit of its president and secretary, showing the condition of the company as of the end of the calendar year ending on the thirty-first day of December next preceding. The annual statement shall be filed with the director on or before the first day of March in each year for the calendar year next preceding and shall be presented at the annual meeting of the company.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.491 - Director to examine, when — expenses.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.491. Director to examine, when — expenses. —
If the director believes that a company may be conducting its affairs in a manner contrary to law or detrimental to the interests of the policyholders or if requested by resolution adopted at any special or annual meeting of its members, he shall cause the books and affairs of any company operating under the provisions of sections 380.201 to 380.591 to be examined and shall furnish a report of such examination to the company examined. If the company is conducting its affairs in a manner contrary to law and detrimental to the interests of the policyholders, the director shall take such action as shall best protect their interests. The expense of necessary examinations shall be paid by the company examined.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.501 - Company may dissolve — procedure.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.501. Company may dissolve — procedure. —
A company may at any meeting of members, due notice of the time, place and object of which shall have been given, by a vote of three-fourths or more of the members voting, voluntarily discontinue its operations and settle its affairs. Thereupon it shall designate a committee of three members who shall on behalf of the company, within a time fixed in their designation or any extension thereof and under the supervision of the director, liquidate its assets, pay its debts and expenses, and divide any surplus among the existing members and those who were members within the preceding three years, as they may be entitled. Upon final settlement by such committee, it shall make a report of the proceedings had under the provisions of this section, which shall be signed by its members and filed with the director. If he approves the same, he shall transmit to such committee a certificate of his approval and thereupon the company shall be deemed dissolved and shall cease to exist under sections 380.201 to 380.591. The director shall certify the liquidation and dissolution to the secretary of state who shall rescind the corporation's charter.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.511 - Company exempt from insurance laws, exception.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.511. Company exempt from insurance laws, exception. —
1. Any company operating under sections 380.201 to 380.591 shall be exempt from all provisions of other insurance laws of this state except as otherwise specifically designated in this chapter. No law hereafter passed shall apply to any company operating under the provisions of sections 380.201 to 380.591 unless such law shall expressly declare that it is applicable to such company.
2. Any company operating under the provisions of sections 380.201 to 380.591
*
writing automobile insurance, however, shall be subject to the provisions of sections 375.445, 375.936 to 375.948, 379.110 to 379.120, 379.203, 303.170, 303.180, 303.200 and 303.210 with respect to said business.
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(L. 1984 H.B. 1498)
Effective 1-01-85
*Section number "380.590" appears in original rolls.
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.521 - License for agents — agencies and brokers.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.521. License for agents — agencies and brokers. —
1. No company organized or operating under the provisions of sections 380.201 to 380.591
*
shall pay any commission or other compensation to any person for any services, as agent, in obtaining in this state any contract of insurance except to an agent, agency or broker licensed by the department of commerce and insurance of the state of Missouri.
2. Any insurance agent, agency or broker that acts as such in connection with the procurement of an insurance contract through a company organized or operating under the provisions of sections 380.201 to 380.591 shall be subject to the provisions of sections 375.012 to 375.146.
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(L. 1984 H.B. 1498)
Effective 1-01-85
*Section numbers "380.200 to 380.590" appear in original rolls.
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.531 - Notices, how given.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.531. Notices, how given. —
Except as otherwise specifically provided in sections 380.201 to 380.591, notice for all purposes required by any provision of those sections shall consist of written or printed notice delivered to the insured or other person to be notified or deposited in the post office directed to him at his address as shown on the records of the company.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.541 - Policy cancellation — exceptions.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.541. Policy cancellation — exceptions. —
Any policy issued by a company operating under the provisions of sections 380.201 to 380.591 may be cancelled in whole or in part by the company upon giving five days' notice thereof to the policyholder as provided in the policy except automobile insurance policies whose cancellation and nonrenewal is governed by the provisions of sections 379.110 to 379.120.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.551 - Waiver of provision or defense, what constitutes — evidence.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.551. Waiver of provision or defense, what constitutes — evidence. —
No provision or condition of any insurance policy issued under the provisions of sections 380.201 to 380.591 and no right or defense of any company operating under the provisions of those sections shall be waived by such company or held to be waived by it, unless such provision, condition, right or defense is specifically waived by letter or other written or printed instrument purporting on its face that it is intended to be a waiver of such specified provision, condition, right or defense. The letter or other written or printed instrument, to be effective as a waiver, must bear the signature, not in facsimile, of an officer or other representative of the company authorized to execute such waivers. The letter or other written or printed instrument shall be the only admissible evidence of the waiver by the company of any such provision, condition, right or defense except that a specific admission under oath by a duly authorized officer or other duly authorized representative of the company that such letter or other written or printed instrument was intentionally delivered or deposited in the United States mail for the purpose of effecting such waiver may be received as evidence thereof.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.561 - Rules, authority for, procedure.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 28 Aug 1995
380.561. Rules, authority for, procedure. —
The director may promulgate such reasonable rules and regulations not inconsistent with the provisions of sections 380.201 to 380.591 to effectuate or aid in the interpretation of these sections. The procedure for promulgation of rules and regulations shall be in accordance with the provisions of chapter 536, and the director shall hold a public hearing before promulgating any rule or regulation. No rule or portion of a rule promulgated under the authority of this chapter shall become effective unless it has been promulgated pursuant to the provisions of section 536.024.
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(L. 1984 H.B. 1498, A.L. 1993 S.B. 52, A.L. 1995 S.B. 3)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.571 - Violations, penalties.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 28 Aug 2007
380.571. Violations, penalties. —
1. If the director determines that any 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 sections 380.201 to 380.611 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 sections 380.201 to 380.611 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 any of these sections is a level two violation under section 374.049, except a violation of section 380.391 is a level four violation under section 374.049. The director may also suspend or revoke the certificate of authority of such person for any willful violation.
2. 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 sections 380.201 to 380.611 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 sections 380.201 to 380.611 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 any of these sections is a level two violation under section 374.049, except a violation of section 380.391 is a level four violation under section 374.049.
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(L. 1984 H.B. 1498, A.L. 2007 S.B. 66)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.581 - Powers of company in general.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.581. Powers of company in general. —
Any company operating under the provisions of sections 380.201 to 380.591 shall have all the powers, rights, privileges and obligations of a corporation organized under the provisions of chapter 351 except insofar as such provisions are inconsistent with the provisions of sections 380.301 to 380.591.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.591 - Suits against company commenced when — limitation.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.591. Suits against company commenced when — limitation. —
1. No suit or action for any loss under an assessable policy shall be commenced until such loss becomes due in accordance with the policy, and in no event until sixty days have elapsed after proof of loss has been given the company. No such suit or action shall be sustainable in any court unless all the requirements of the policy have been complied with, nor unless commenced within twelve months next after the loss. The limitations permitted under the provisions of this section shall be clearly and prominently declared on the face page of any assessable policy.
2. Any action based upon a policy issued on a nonassessable basis shall be subject to the statutes of limitations applicable to a similar cause of action.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.601 - Conversion to a mutual insurance company — procedure.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.601. Conversion to a mutual insurance company — procedure. —
Any Missouri mutual insurance company operating under the provisions of sections 380.011 to 380.151 or any company operating under the provisions of sections 380.201 to 380.591 may convert to a mutual insurance company in the manner provided in sections 379.585 to 379.625; but, for purposes of conversion under the provisions of this section, the assent otherwise required by the provisions of section 379.605 for such conversion need not exceed seventy-five percent of the members voting thereon, both in person and by proxy, at a meeting called for that purpose.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.611 - Sale of corporate charter, penalty — exclusive right to control a company, approval by director, requirements.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 01 Jan 1985, see footnote
380.611. Sale of corporate charter, penalty — exclusive right to control a company, approval by director, requirements. —
1. It is unlawful for any person to sell the corporate charter of a Missouri mutual insurance company operating under the provisions of sections 380.011 to 380.151 or operating under the provisions of sections 380.201 to 380.591. Any violation of this provision is a class A misdemeanor.
2. An agreement of contract under which any person, organization or corporation is granted the exclusive or dominant right to manage or control a Missouri mutual insurance company operating under the provisions of sections 380.011 to 380.151, or operating under the provisions of sections 380.201 to 380.591, shall be filed with and approved by the director of the department of commerce and insurance. The director of the department of commerce and insurance shall approve such agreements or contracts only if they are not detrimental to the policyholders of the company or the public.
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(L. 1984 H.B. 1498)
Effective 1-01-85
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 380 - County, Town and Farmers' Mutual Property Insurance Companies › Section 380.651 - Provisions inapplicable to mutual companies.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380
• Effective - 28 Aug 1993
380.651. Provisions inapplicable to mutual companies. —
Nothing contained in this section and sections 375.1250 to 375.1275, sections 375.1280 to 375.1295, sections 376.1000 to 376.1045, and sections 376.1075 to 376.1095 shall apply to an insurance company formed and existing under the provisions of this chapter, dealing with county, town and farmers' mutual property insurance companies.
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(L. 1993 H.B. 709 & 21)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 381 - Title Insurance Law › Section 381.011 - Citation of law — purpose statement.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 381
• Effective - 01 Jan 2008, 2 histories, see footnote
381.011. Citation of law — purpose statement. —
1. Sections 381.011 to 381.412 shall be known and may be cited as the "Missouri Title Insurance Act".
2. The purpose of sections 381.011 to 381.405 is to provide the state of Missouri with a comprehensive body of law for the effective regulation and supervision of title insurance business transacted within this state in response to the McCarran-Ferguson Act, Sections 1011-1015, Title 15, United States Code.
3. Except as otherwise expressly provided in this chapter and except where the context otherwise requires, all provisions of the laws of this state relating to insurance and insurance companies generally shall apply to title insurance, title insurers, and title agents.
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(L. 1987 S.B. 251 § 1, Repealed L. 2000 S.B. 894 § D, L. 2007 S.B. 66)
Effective 1-01-08
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 381 - Title Insurance Law › Section 381.015 - Title insurance commitment, required statement, when — lender's insurance policy without owner's title insurance, notice given when, contents, retention — penalty for violation.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 381
• Effective - 01 Jan 2008, see footnote
381.015. Title insurance commitment, required statement, when — lender's insurance policy without owner's title insurance, notice given when, contents, retention — penalty for violation. —
1. As used in sections 381.011 to 381.412, the term
"title insurance commitment"
or
"commitment"
means a preliminary report, commitment, or binder issued prior to the issuance of a title insurance policy containing the terms, conditions, exceptions, and other matters incorporated by reference under which the title insurer is willing to issue its title insurance policy. A title insurance commitment is not an abstract of title.
2. A title insurer, title agency, or title agent issuing a lender's title insurance policy in conjunction with a mortgage loan made simultaneously with the purchase of all or part of the real estate securing the loan, where no owner's title insurance policy has been requested, shall give written notice, on a form prescribed or approved by the director, to the purchaser-mortgagor at the time the commitment is prepared. The notice shall explain that a lender's title insurance policy is to be issued protecting the mortgage-lender, and that the policy does not provide title insurance protection to the purchaser-mortgagor as the owner of the property being purchased. The notice shall explain that the purchaser-mortgagor may obtain an owner's title insurance policy protecting the property owner, within sixty days of closing and at a specified cost or approximate cost, if the proposed coverages are or amount of insurance is not then known. A copy of the notice, signed by the purchaser-mortgagor, shall be retained in the relevant underwriting file at least fifteen years after the effective date of the policy.
3. A violation of any provision under this section is a level one violation under section 374.049.
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(L. 2000 S.B. 894, A.L. 2007 S.B. 66)
Effective 1-01-08
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 381 - Title Insurance Law › Section 381.018 - Written contract with title insurer required for commitment or policy issuance, statement of financial condition when, contents, review and notification requirements, inventory, proof of licensure, penalty for violation.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 381
• Effective - 01 Jan 2008, see footnote
381.018. Written contract with title insurer required for commitment or policy issuance, statement of financial condition when, contents, review and notification requirements, inventory, proof of licensure, penalty for violation. —
1. The title insurer shall not allow the issuance of its commitments or policies by a title agency or title agent not affiliated with a title agency unless there is in force a written contract between the parties.
2. The title insurer shall maintain an inventory of all policy numbers allocated to each title agency or title agent not affiliated with a title agency.
3. The title insurer shall have on file proof that the title agency or title agent is licensed by this state at the time a written contract is entered into or before it becomes effective.
4. The title insurer shall establish the underwriting guidelines and, where applicable, limitations on title claims settlement authority to be incorporated into contracts with its title agencies and title agents not affiliated with a title agency.
5. If a title insurer terminates its contract with a title agency licensed under this chapter, the insurer shall, within seven days of the termination, notify the director of the reasons for termination, including any information that is required to be reported under subsection 5 of section 375.022.
6. A violation of any provision under this section is a level two violation under section 374.049.
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(L. 2000 S.B. 894, A.L. 2007 S.B. 66)
Effective 1-01-08
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 381 - Title Insurance Law › Section 381.019 - Required disclosures.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 381
• Effective - 01 Jan 2008, see footnote
381.019. Required disclosures. —
1. A title insurer, title agency or title agent participating in a settlement or closing of a residential real estate transaction shall provide clear, conspicuous, and distinct disclosure of premiums and charges. The director shall adopt rules not in conflict with provisions of the federal Real Estate Settlement Procedures Act, as amended, under section 381.042 to implement disclosure of the following:
(1) Premium;
(2) Abstract or title search and examination fee and any other associated charges or fees; and
(3) Settlement, escrow, or closing fees.
2. A violation of any provision under this section is a level two violation under section 374.049.
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(L. 2007 S.B. 66)
Effective 1-01-08
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 381 - Title Insurance Law › Section 381.024 - Denial of access and failure to cooperate prohibited, penalty.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 381
• Effective - 01 Jan 2008, see footnote
381.024. Denial of access and failure to cooperate prohibited, penalty. —
1. It is unlawful for any title agency or title agent not affiliated with an agency to unreasonably deny access or fail to cooperate with its underwriters in the title insurers' reviews of the agency's or agent's escrow, settlement, closing and security deposit accounts.
2. It is unlawful for any title agency or title agent not affiliated with an agency, appointed by two or more title insurers, to deny any of the title insurers access to the fiduciary trust accounts in connection with providing escrow or closing settlement services, and any or all of the supporting account information in order to ascertain the safety and security of the funds held by the title agency or title agent.
3. A violation of any provision under this section is a level two violation under section 374.049.
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(L. 2007 S.B. 66)
Effective 1-01-08