reglab/statecodes huggingface dataset:
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.426 - Director to make rules and regulations.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1965
375.426. Director to make rules and regulations. —
The director shall have the power to make such rules and regulations as may be necessary for the execution of the functions vested in him by sections 375.422 to 375.426, and may for such purpose classify such insurance companies, securities, and other persons or matters within his jurisdiction. All such rules and regulations shall conform to, and be subject to, the provisions of chapter 536 as now constituted or hereafter amended. No provision of sections 375.422, 375.423 and 375.424, imposing any liability shall apply to any act done or omitted in good faith in conformity with any rule or regulation of the director, notwithstanding that such rule or regulation may, after such act or omission, be amended or rescinded or determined by judicial or other authority to be invalid for any reason.
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(L. 1965 p. 575 § 8)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.427 - Department rules for payment of fees by and integration of systems of insurers and entities administering claims for injured employees not applicable, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 2002
375.427. Department rules for payment of fees by and integration of systems of insurers and entities administering claims for injured employees not applicable, when. —
Notwithstanding any other provision of law to the contrary, no rule promulgated by the department setting forth criteria for payment of fees by or integration of systems of an insurer and an entity administering claims involving injured employees shall apply to such parties, unless a contractual relationship between such parties to administer claims on behalf of one or more employers is established and the provisions of the rule are not contrary to specific terms in the contract.
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(L. 2002 S.B. 895 § 375.919, subsec. 2)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.430 - Certificate revoked if judgment not satisfied.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1939
375.430. Certificate revoked if judgment not satisfied. —
Whenever any judgment shall be obtained in any of the courts of this state against any insurance company doing business in this state, and said judgment shall remain unsatisfied for fifteen days after execution shall have been lawfully issued thereon, the certificate of authority or license to do business issued or granted to such insurance company shall immediately be suspended or revoked by the director of the department of commerce and insurance, upon said director being notified thereof, and such insurance company shall, after such suspension or revocation, be prohibited from transacting any business in this state until such judgment shall be satisfied.
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(RSMo 1939 § 6041)
Prior revisions: 1929 § 5930; 1919 § 6338; 1909 § 7069
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.440 - Revocation of license for failure to comply with judicial decree.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1939
375.440. Revocation of license for failure to comply with judicial decree. —
Any person, who has heretofore obtained or may hereafter obtain, in any of the courts of this state, a decree against any insurance company, doing business in this state, commanding or directing said insurance company to specifically perform a contract of insurance, may, if the insurance company against which said decree is obtained, fails, for a period of fifteen days after the rendition of said decree, to comply with the same, obtain a copy of said decree, certified to under the hand and seal of the clerk of the court in which said decree was rendered, and transmit the same, together with the certificate of said clerk, reciting therein, the failure of such insurance company to comply with said decree, and transmit the same to the director of the department of commerce and insurance of the state of Missouri, and immediately upon receipt thereof, the said director of the department of commerce and insurance shall cause such insurance company to be notified of the fact of the filing of such certified copy of said decree and certificate, and if such insurance company fails for a period of thirty days thereafter to comply with said decree, the certificate of authority or license to do business issued or granted to such insurance company, shall immediately be suspended or revoked by the director of the department of commerce and insurance, until such decree shall be satisfied; provided, however, the foregoing shall not be applicable while an appeal is pending if a supersedeas bond shall have been given.
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(RSMo 1939 § 6042)
Prior revisions: 1929 § 5931; 1919 § 6339
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.445 - Company operating fraudulently or in bad faith, penalties.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 2007
375.445. Company operating fraudulently or in bad faith, penalties. —
1. It is unlawful for any insurance company transacting business under the laws of this state to:
(1) Conduct its business fraudulently;
(2) Fail to carry out its contracts in good faith; or
(3) Habitually and as a matter of business practice compelling claimants under policies or liability judgment creditors of the insured to either accept less than the amount due under the terms of the policy or resort to litigation against the company to secure payment of the amount due.
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. Each practice in violation of this section is a level two violation under section 374.049. Each act as a part of a practice does not constitute a separate violation under section 374.049. The director may also suspend or revoke the license or certificate of authority of such 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. Each practice violation of this section is a level two violation under section 374.049. Each act as part of a practice does not constitute a separate violation under section 374.049.
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(L. 1967 p. 516, 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 375.460 - Director to keep deposits — rights of companies.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1939
375.460. Director to keep deposits — rights of companies. —
1. The director of the department of commerce and insurance shall receive the deposits and securities required by law to be transferred to and deposited with him, and shall give vouchers for the same to the parties so depositing.
2. He shall at all times require each company to keep up its deposits aforesaid to the full actual value required by law.
3. It shall be the duty of the director of the department of commerce and insurance, upon receipt of securities from any insurance company, to forthwith deposit the same in the presence of the president, vice president or authorized agent of the company, in a strong iron box, which shall require two distinct and different keys to unlock the same, one key to be kept by the director and the other by the company; and the box shall not be opened except in the presence of the director or deputy, and said president, vice president, or authorized agent of the company; provided, however, that in case the company having such securities on deposit shall be adjudged insolvent, or be dissolved, or in cases arising under section 375.490, the court shall make and enforce the necessary orders to place said securities, or any part of them, at the sole disposal of the director.
4. The boxes shall be kept in the vault of the Safe Deposit Company of St. Louis, or other like depositary to be selected by said director, and the insurance companies shall pay the several fees for the safekeeping of their respective boxes.
5. So long as any company so depositing shall continue solvent, the director shall permit such company to collect and receive the interest or dividends on its securities so deposited and transferred, and from time to time to withdraw any such securities on depositing other securities in the stead of those to be withdrawn, such new securities to be of the same value and of the kinds required by law in the first instance.
6. The director shall not be subject to garnishment, attachment or any other process or order in respect to such securities than by law provided.
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(RSMo 1939 § 6044)
Prior revisions: 1929 § 5933; 1919 § 6341; 1909 § 7071
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.470 - Penalty for violations by director.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1939
375.470. Penalty for violations by director. —
If said director or his deputy shall willfully fail, refuse or neglect to faithfully keep, deposit, account or surrender, in the manner by law authorized or required, any such securities as aforesaid, transferred to and received by him or into his custody, under the provisions of law, such director shall be responsible upon his official bond, and suit may be brought upon said bond by any person injured; and said director or his deputy so offending shall, upon conviction thereof, be adjudged guilty of a felony, and punished by a fine not exceeding ten thousand dollars, and by imprisonment in the state penitentiary for not less than two or more than ten years; and for any other willful violation or failure or neglect to perform any duty prescribe by law, and pertaining to his office, said director or his deputy, upon conviction thereof, shall be deemed guilty of a misdemeanor, and punished by a fine not exceeding one thousand dollars, or by imprisonment in the county jail not exceeding twelve months, or by both such fine and imprisonment.
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(RSMo 1939 § 6044)
Prior revisions: 1929 § 5933; 1919 § 6341; 1909 § 7071
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.480 - Withdrawal of securities — notice — examination by director.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 2007
375.480. Withdrawal of securities — notice — examination by director. —
1. When any company, which has on deposit the securities named in section 376.170 with the director of the department of commerce and insurance, shall desire to relinquish and cease its business in this state, said director shall, upon application of such company, under the oath of the president or vice president and secretary or assistant secretary, give notice of such intention in any newspaper of general circulation published in the county or city in which said company is located, if it is a company of this state, or in some newspaper published in the city of St. Louis, if it is a company of another state or government, at least twice a week for six weeks.
2. After such publication he shall deliver up and transfer to said company the securities held by him and belonging to the company; but before making such transfer, the director shall be satisfied, by an examination of the books and papers of such company, to be made by himself or some competent person to be appointed by him, or by the oath of the acting president and secretary or assistant secretary of said company if it be a company organized under the laws of this state, that all debts and liabilities of every kind that are due, or may become due, upon all contracts or agreements made with the policyholders in said company, or in any company reinsured by said company, if the deposit is that of a reinsured company and is held for the security of the policyholders of said reinsured company under sections 375.010 to 375.920, are released, satisfied or extinguished; or if it be a company not organized under the laws of this state, that all debts and liabilities of every kind, whether fixed or contingent, due or that may become due to this state or to any county or municipality or citizen thereof, are released, satisfied or extinguished; and the said director may, from time to time, authorize the delivery in the manner aforesaid, to such company or its assigns, of any portion of such securities, on being satisfied in the manner and form aforesaid, that all debts and liabilities of every kind as aforesaid are less than one-half the amount of the said securities which are retained.
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(RSMo 1939 § 6045, A.L. 2007 S.B. 66)
Prior revisions: 1929 § 5934; 1919 § 6342; 1909 § 7072
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.490 - Payment of judgments out of deposits.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1939
375.490. Payment of judgments out of deposits. —
1. Any court of competent jurisdiction, wherein a judgment shall have been recovered against any company by which any securities have been deposited, as by law required, upon a policy issued by such company, and execution issued upon such judgment shall have been returned partly or wholly unsatisfied, shall, upon motion of the plaintiff in such executions, upon three days' notice to said director, order said director to forthwith dispose of enough of said securities at the best price he can obtain for the same to satisfy said judgment, execution and costs, so far as such securities shall suffice; and the director shall, upon realizing the amount necessary to pay said claim, with interest and costs, pay the same into the hands of the officer holding the original execution, and the receipt of said officer to him shall be a full acquittance from any further liability for the amount so turned over; provided, however, that in case of companies organized under the laws of this state, if the director has reason to believe that such company is insolvent, and will not be able to replace the securities to be withdrawn, he shall make return to the order to that effect, and thereupon the execution of such order shall be stayed until the question of solvency is determined; if the company is declared solvent, the director shall satisfy said execution out of said securities as above provided; if it is found insolvent, the judgment upon which said execution or order issued shall be liquidated or disposed of in the same manner as is provided by law for the adjustment of policy claims against insolvent companies.
2. Whenever any securities such as aforesaid shall have been disposed of by the director as aforesaid, said director, unless the company whose securities shall have been withdrawn as aforesaid shall, within ten days thereafter, deposit with him other securities of like kind and value, and for the like purpose as the securities so withdrawn, shall proceed, in respect to such company, in the manner authorized by law in case of insolvent or unsound companies.
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(RSMo 1939 § 6047)
Prior revisions: 1929 § 5936; 1919 § 6344; 1909 § 7074
(1958) So long as no action had been taken to impound and subject deposits of foreign company with the insurance superintendent to the payment of claims, although the company was then in the process of liquidation in the foreign jurisdiction, the judgment creditor of the foreign insurance company had an unqualified right to have the deposits with the insurance superintendent applied to the payment of his judgment in the manner provided by this section. Morris v. I.C.T. Insurance Co. (Mo.), 316 S.W.2d 636.
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.500 - Distribution of assets.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1949
375.500. Distribution of assets. —
1. Whenever any company has been or shall be adjudged insolvent, or shall be or has been dissolved, if a distribution of its assets among its policyholders and creditors is or shall be decreed, it shall be the duty of the director of the department of commerce and insurance to hold all securities on deposit for the benefit of all policyholders in such company, whether the claims of such policyholders are in judgment or not, to reduce such securities to money, and when so reduced, to apply the same, less the expenses herein provided for, to the liquidation of policy claims pro rata; in case there should be any surplus after the payment of all policy claims in full, such surplus shall become a part of the general assets of the company.
2. If the policy claimants are not paid in full out of the proceeds of said securities, they shall be entitled to share in the distribution of its general assets for the remainder of their claims, as is provided by law, and as to said remainder shall not be charged with the amount received by them on their policy claims out of the proceeds of said securities; provided, however, that when said securities have been deposited to secure registered policies or annuity bonds, as provided by sections 375.010 to 375.920, the proceeds of the securities so deposited shall be first applied to the payment of the registered policies and annuity bonds, for the security of which the same were deposited.
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(RSMo 1939 § 6048, A. 1949 H.B. 2092)
Prior revisions: 1929 § 5937; 1919 § 6345; 1909 § 7075
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.510 - Reinsurance — rights and liabilities — insolvency.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1949
375.510. Reinsurance — rights and liabilities — insolvency. —
1. If any insolvent and dissolved company shall be reinsured under the provisions of law, the securities on deposit with the director at the date of the dissolution of the said company shall remain on deposit with him, as a fund for the benefit of the policyholders of the reinsured company, so long as their said policies remain in force; and the same shall not, by virtue of the reinsurance, be transferred to or become a part of the deposit of the reinsuring company, except that said reinsuring company shall have the same right as to the withdrawal or substitution, and as to receiving the interest thereon, as the depositing company had; and said reinsuring company shall be subject to the same liabilities, penalties and obligations as the company depositing would have been with respect to policy claims against it.
2. In case the reinsuring company becomes insolvent, the director of the department of commerce and insurance shall dispose of the deposits as provided in case of insolvent companies, paying first, out of the net proceeds thereof, the policy claims against the reinsured company, and the remainder, if any, into the general assets of the reinsuring company.
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(RSMo 1939 § 6048, A. 1949 H.B. 2092)
Prior revisions: 1929 § 5937; 1919 § 6345; 1909 § 7075
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.520 - Costs to be paid from deposits — amount.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1949
375.520. Costs to be paid from deposits — amount. —
1. The deposits of a company shall be subject to or liable for the following costs only:
(1) The actual cost of collecting the deposits; and
(2) An amount not to exceed one percent of all policies proved up and allowed which amount shall be full compensation for the services of all actuaries, clerks or other persons employed or appointed by the director or the court in the adjusting and settling of policy claims.
2. The cost of collecting deposits shall be the amount actually paid out by the director and in no case shall exceed two and one-half percent of the amount collected. The director, subject to the approval of the court as to amount, shall pay such costs from the proceeds of the deposits.
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(RSMo 1939 § 6048, A. 1949 H.B. 2092)
Prior revisions: 1929 § 5937; 1919 § 6345; 1909 § 7075
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.530 - Accounting among beneficiaries of foreign deposits.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1939
375.530. Accounting among beneficiaries of foreign deposits. —
If any company of this state shall, under the requirements of any law of another state or foreign government, have on deposit in such other state or foreign government securities upon which the citizens or residents of such state or government have, by virtue of its laws, a lien, claim or right, prior or superior to that of the citizens or residents of other states, then no citizen or resident of the state or country in which such deposit is held shall be entitled to share in the distribution of the proceeds of the deposits or other assets in this state, until the amount deposited in such other state or country shall be deducted from the claims of the persons who by the laws of such state or country hold such prior or superior lien, and until the other policy claimants and creditors of said company shall have received from the proceeds of deposits or other assets an equal percent upon their claims.
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(RSMo 1939 § 6049)
Prior revisions: 1929 § 5938; 1919 § 6346; 1909 § 7076
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.532 - Investment in debt of institution permitted, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 2007, 2 histories
375.532. Investment in debt of institution permitted, when. —
1. The capital, reserve and surplus of a domestic insurer may be invested in bonds, notes or other evidences of indebtedness, or preferred or guaranteed stocks or shares, issued, assumed or guaranteed by an institution organized under the laws of the United States, any state, territory or possession of the United States, or the District of Columbia, if such bonds, notes or other evidences of indebtedness, or preferred or guaranteed stocks or shares, shall carry at least the second highest designation or quality rating conferred by the Securities Valuation Office of the National Association of Insurance Commissioners, or some similar or equivalent rating by a nationally recognized rating agency which has been approved by the director.
2. As used in this section, the term
"institution"
means a corporation, a joint stock company, an association, a trust, a business partnership, a business joint venture or similar entity.
3. This section shall not apply to an insurer organized under chapter 376.
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(L. 1991 H.B. 385, et al. § 21, A.L. 1992 S.B. 831, A.L. 2005 H.B. 69 merged with S.B. 131, 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 375.534 - Foreign governments or corporations, investment in permitted — conditions, requirements.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 2015, 2 histories
375.534. Foreign governments or corporations, investment in permitted — conditions, requirements. —
1. In addition to other foreign investments permitted by Missouri law for the type or kind of insurance company involved, the capital, reserves and surplus of all insurance companies of whatever kind and character organized under the laws of this state, having admitted assets of not less than one hundred million dollars, may be invested in securities, investments and deposits issued, guaranteed or assumed by a foreign government or foreign corporation, or located in a foreign country, whether denominated in United States dollars or in foreign currency, subject to the following conditions:
(1) Such securities, investments and deposits shall be of substantially the same kind, class and quality of like United States investments eligible for investment by an insurance company under Missouri law;
(2) An insurance company shall not invest or deposit in the aggregate more than twenty percent of its admitted assets under this section, except that an insurance company may reinvest or redeposit any income or profits generated by investments permitted under this section;
(3) The aggregate amount of foreign investments then held by the insurer under this subsection in a single foreign jurisdiction shall not exceed ten percent of its admitted assets as to a foreign jurisdiction that has a sovereign debt rating of SVO "1" or five percent of its admitted assets as to any other foreign jurisdiction; and
(4) Such securities, investments and deposits shall be aggregated with United States investments of the same class in determining compliance with percentage limitations imposed under Missouri law for investments in that class for the type or kind of insurance company involved.
2. This section shall not apply to an insurer organized under chapter 376.
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(L. 1991 H.B. 385, et al. § 22, A.L. 2007 S.B. 66, A.L. 2015 S.B. 164)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.535 - Director to issue charges when he believes assumption of additional risks financially hazardous — hearing — cease and desist order, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1967
375.535. Director to issue charges when he believes assumption of additional risks financially hazardous — hearing — cease and desist order, when. —
Whenever the director has reason to believe that any insurance company licensed to do business in this state is, because of the nature and extent of the risks assumed by the company, in such financial condition that the assumption of additional risks would be hazardous to creditors, policyholders, or the general public, he may issue and serve upon the company a statement of charges and notice of hearing thereon. If after a hearing the director finds that the company is in such financial condition that the assumption of additional risks would be hazardous to creditors, policyholders or the general public, he shall order the company to cease and desist from writing any new business until the company's financial condition is no longer hazardous thereto.
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(L. 1967 p. 516)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.537 - Impaired insurer, defined — duty to notify director — penalties for failure to notify.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 01 Jan 2017, 2 histories, see footnote
375.537. Impaired insurer, defined — duty to notify director — penalties for failure to notify. —
1. As used in this section, the following terms mean:
(1)
"Chief executive officer"
, the person, irrespective of his title, designated by the board of directors or trustees of an insurer as the person charged with the responsibility of administering and implementing the insurer's policies and procedures;
(2)
"Director"
, the director of the department of commerce and insurance;
(3)
"Impaired"
, a financial situation in which the assets of an insurer are less than the sum of the insurer's minimum required capital, minimum required surplus and all liabilities as determined in accordance with the requirements for the preparation and filing of the annual statement of an insurer;
(4)
"Insurer"
, any insurance company or other insurer licensed to do business in this state.
2. Whenever an insurer is impaired, its chief executive officer shall immediately notify the director in writing of such impairment and shall also immediately notify in writing all of the board of directors or trustees of the insurer.
3. Any officer, director or trustee of an insurer shall notify the person serving as chief executive officer of the impairment of such insurer in the event such officer, director or trustee knows or has reason to know that the insurer is impaired.
4. Any person who knowingly or recklessly violates subsection 2 or 3 of this section shall, upon conviction thereof, be fined not more than fifty thousand dollars or be imprisoned for not more than one year, or both. Any person who knowingly does any of the following shall be guilty of a class E felony:
(1) Conceals any property belonging to an insurer;
(2) Transfers or conceals in contemplation of a state insolvency proceeding his own property or property belonging to an insurer;
(3) Conceals, destroys, mutilates, alters or makes a false entry in any document which affects or relates to the property of an insurer or withholds any such document from a receiver, trustee or other officer of a court entitled to its possession;
(4) Gives, obtains or receives a thing of value for acting or forbearing to act in any court proceedings; and any such act or acts results in or contributes to an insurer's becoming impaired or insolvent.
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(L. 1991 H.B. 385, et al. § 23, A.L. 2014 S.B. 491)
Effective 1-01-17
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.570 - Manner of commencing proceedings — petition, contents.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1992
375.570. Manner of commencing proceedings — petition, contents. —
1. Terms used in sections 375.570 to 375.750 shall mean as defined in section 375.1152.
2. A formal delinquency proceeding, or seizure as described in section 375.1164, shall be commenced by filing a verified petition in the name of the director, as plaintiff, against the insurer, proceeded against as defendant, and said petition shall contain a brief statement of the condition of the defendant, or of the causes upon which the proceeding is based; it may also contain a prayer for temporary or permanent relief, or for both, and shall conclude with a prayer for general relief, under which prayer the court may grant any relief or issue any injunction or writ, and make any decrees or orders, under and within the provisions of sections 375.1150 to 375.1246, as shall be found advisable or necessary.
3. The petition shall contain a brief statement of the grounds upon which the proceeding is based. The petition may also contain a prayer for any orders as described in section 375.640 or 375.1155.
4. If the petition prays for any preliminary order as described in section 375.580, the petition must be verified by the director or his chief deputy or assistant director. The director need not plead or prove irreparable harm or inadequate remedy at law as a requirement for the issuance of any such preliminary order. The director shall be required to give only such notice to the insurer prior to the issuance of such a preliminary order as is reasonable under the circumstances.
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(RSMo 1939 § 6053, A.L. 1992 H.B. 1574)
Prior revisions: 1929 § 5942; 1919 § 6350; 1909 § 7080
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.580 - Issuance, service and return of process.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1992
375.580. Issuance, service and return of process. —
1. If any order as described in section 375.640 or 375.1155 to be issued preliminarily to the summary hearing provided by section 375.600 is prayed for:
(1) The petition shall be first presented ex parte to the court, which may issue its initial order containing the preliminary orders prayed for as though the director were the receiver, but which shall provide in its order that any such preliminary order shall not continue beyond the time and date set for the return of summons, unless the court shall expressly enter a further order at the return of summons continuing such preliminary order;
(2) The court shall note the time and date of the issuance of its initial order;
(3) The court shall set a time and date of the return of summons, at which time the defendant or defendants may appear before the court for a summary hearing. The time and date for the return of summons shall not exceed ten days from the time and date of the issuance of the initial order;
(4) After the issuance of the initial order, the director shall immediately make arrangements with the clerk of the court for prompt personal service upon the defendant or defendants of the verified petition and orders. The clerk of the court shall maintain the court's file as confidential, except for good cause shown, until personal service is made.
2. If no preliminary order is prayed for, the proceedings shall be the same as in subsection 1 of this section, except that the court's file shall be open to the public as provided by section 375.1172.
3. Any preliminary order issued pursuant to this section may be served and enforced as provided by law in injunctions issued in other cases, but the director shall not be required to give any bond as preliminary to or in the course of any proceedings to which he is a party as such director, pursuant to sections 375.570 to 375.750 and 375.1150 to 375.1246, either for costs or for any order, or in case of appeal to either the supreme court or to any appellate tribunal.
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(RSMo 1939 § 6054, A.L. 1978 H.B. 1634, A.L. 1992 H.B. 1574)
Prior revisions: 1929 § 5943; 1919 § 6351; 1909 § 7081
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.600 - Pleadings and proceedings, general procedures — summary hearing, purpose — effect of nonattendance by defendant.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1992
375.600. Pleadings and proceedings, general procedures — summary hearing, purpose — effect of nonattendance by defendant. —
1. The pleadings and proceedings, insofar as not otherwise regulated by sections 375.570 to 375.750, 375.950 to 375.990 and 375.1150 to 375.1246, shall be as in other civil causes.
2. At the time and date for the return of summons, the court shall hold a summary hearing.
3. If any defendant fails to appear for the summary hearing:
(1) The court shall, if personal service has not been made as to any defendant:
(a) Make such provision for alternative service upon that defendant as is best designed to notify the defendant of the pendency of the formal delinquency proceeding before the time and date of the summary hearing as reset by the court;
(b) Reset the time and date of the summary hearing to a time and date not more than ten days from the time and date of the original summary hearing;
(c) Expressly continue any preliminary order until the reset time and date of the summary hearing; and
(d) Order any confidential file to be an open and public record;
(2) The court shall, if personal service has been made as to any defendant, grant judgment by default in favor of the director against the defendant.
4. If any defendant appears for the summary hearing, the court shall:
(1) Require the defendant to answer the petition;
(2) Consider whether to extend any preliminary orders pending final judgment; and
(3) Set the case for trial, which shall be not more than ten days from the date of the summary hearing.
5. If any defendant fails to appear for a reset summary hearing, the court shall, if honest and reasonable efforts have been made to effect personal service upon the defendant, order notice published of the petition, of the continuance of any restraining order, and of the second reset summary hearing, which shall not be less than ten nor more than twenty days after the publication of notice. If the defendant fails to appear for any second reset summary hearing, the court may grant default judgment in favor of the director and against the defendant.
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(RSMo 1939 § 6055, A.L. 1992 H.B. 1574)
Prior revisions: 1929 § 5944; 1919 § 6352; 1909 § 7082
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.620 - Referee or master to hear and report — exceptions, filed by either party.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1992
375.620. Referee or master to hear and report — exceptions, filed by either party. —
1. If the case is referred, the referee or master shall forthwith proceed to hear the same, and shall file his report within ten days after the conclusion of the testimony.
2. Any referee or master failing to at once proceed with the hearing, or to file his report within the time aforesaid, may be removed by the court, in which case he shall not receive any pay or allowance whatever for his services; and the court may thereupon hear the case or appoint a new referee or master. The fees of the referee or master shall be taxed and paid as costs in the case.
3. Exceptions to the report of the referee or master may be filed by either party. If no exceptions are filed within three days after the report is presented to the court, it shall be confirmed, and judgment entered thereon.
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(RSMo 1939 § 6056, A.L. 1992 H.B. 1574)
Prior revisions: 1929 § 5945; 1919 § 6353; 1909 § 7083
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.640 - Insurance director to take charge.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1992
375.640. Insurance director to take charge. —
If the director shall apply, either at the time of or after the filing of the petition referred to in section 375.570, the court may, if the court deems it necessary, authorize him or a special deputy appointed for such purpose to temporarily take charge of the property of the defendant and to receive its premiums and other income until a final decree is rendered.
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(RSMo 1939 § 6057, A.L. 1992 H.B. 1574)
Prior revisions: 1929 § 5946; 1919 § 6354; 1909 § 7084
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.650 - Title of assets to vest in director — special deputy receiver, appointment, duties.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1992
375.650. Title of assets to vest in director — special deputy receiver, appointment, duties. —
1. Upon the rendition of a final judgment dissolving an insurer, or declaring it insolvent, all the general assets of such insurer shall vest in fee simple and absolutely in the director, and his successor or successors in office, who shall hold and dispose of the same in his capacity as receiver for the use and benefit of the creditors and policyholders of such insurer and such other persons as may be interested in such assets.
2. Upon the rendition of a final judgment dissolving an insurer, or declaring it insolvent, the director may appoint a special deputy receiver whose appointment is approved by the court to manage the receivership. The director in his capacity as receiver of such insurer, any special deputy receiver who is appointed by the director and whose appointment is approved by the court, all employees and agents of such receivership and all employees of the state of Missouri when acting with respect to the receivership shall be considered to be officers of the court when acting in such capacities and as such shall be subject to the orders and directions of the court with respect to their actions or omissions in connection with the receivership. The receiver, special deputy receiver, commissioners and special masters appointed by the court, the agents and employees of the receivership and the commissioners and employees of the state of Missouri when acting with respect to the receivership shall enjoy absolute judicial immunity and be immune from any claim against them personally for any act or omission while acting in good faith in the performance of their functions and duties in connection with the receivership.
3. This section shall apply only to proceedings instituted before August 28, 1991.
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(RSMo 1939 § 6058, A.L. 1986 H.B. 1103, A.L. 1988 S.B. 430, A.L. 1992 H.B. 1574)
Prior revisions: 1929 § 5947; 1919 § 6355; 1909 § 7085
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.660 - Disposition of assets.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1992
375.660. Disposition of assets. —
1. If the court directs the director to liquidate, settle or wind up the affairs of the defendant, said director shall take immediate possession of the assets, books and papers of the defendant, and unless disposition of the assets of the defendant is made by a reinsurance agreement as may be provided by law, he shall sell and dispose of the real estate and other property of the defendant, subject to the approval of the court, and may execute in his own name, as director, all necessary and proper conveyances of the same; he may also, in his own name as such director, maintain and defend all actions in the courts of this or any other state, or of the United States, relating to the defendant, its assets, liabilities and business.
2. This section shall apply only to proceedings instituted before August 28, 1991.
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(RSMo 1939 § 6059, A.L. 1992 H.B. 1574)
Prior revisions: 1929 § 5948; 1919 § 6356; 1909 § 7086
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.670 - Allowance of demands — receiver to review claims against receivership.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1992
375.670. Allowance of demands — receiver to review claims against receivership. —
1. The court, upon the application of the receiver, shall establish claims procedures and shall limit and may extend the time for the presentation of claims against the receivership, and notice thereof shall be given in such manner as said court shall direct; and any creditor neglecting to present his claim within the time so limited shall be debarred of all right to share in the assets of the insurer.
2. Claims presented against the receivership shall be reviewed by the receiver. The receiver shall either consent to the claim in whole or in part or shall contest the claim. If the receiver consents to the claim in whole or in part, he shall also classify the claim according to the priority to which it is entitled under section 375.700. A written notice of his consent shall be given to the claimant or his attorney by first class mail at the address shown in the proof of claim. Whenever the receiver objects to all or any portion of the claim, the claim shall be subject to the provisions of section 375.1214.
3. This section shall apply only to proceedings instituted before August 28, 1991.
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(RSMo 1939 § 6060, A.L. 1988 S.B. 430, A.L. 1992 H.B. 1574)
Prior revisions: 1929 § 5949; 1919 § 6357; 1909 § 7087
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 375 - Provisions Applicable to All Insurance Companies › Section 375.710 - Conflict of interests — power of court — trustees.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 375
• Effective - 28 Aug 1992
375.710. Conflict of interests — power of court — trustees. —
In case of any conflict of interests on any matter, or concerning the enforcement or settlement of any conflicting claims between two or more insurers, the settlement and winding up of whose affairs shall be under the charge of the director, it shall be the duty of the director, and the right of any person interested in any of the insurers to report the fact of conflict and the question or questions involved to the court in which any of the causes is pending, and such court, thereupon, shall have power to appoint a trustee, to have charge and control of the interests of any of the insurers as regards the settlement or enforcement of its claims in respect to the matter in controversy, or to make such other orders providing for the settlement, adjustment or enforcement of the rights of the insurer in the matter as to the court shall seem best adapted to the protection of the rights of all.
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(RSMo 1939 § 6062, A. 1949 H.B. 2092, A.L. 1992 H.B. 1574)
Prior revisions: 1929 § 5951; 1919 § 6359; 1909 § 7089