Section 375.430 – Certificate revoked if judgment not satisfied.
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 […]
Section 375.440 – Revocation of license for failure to comply with judicial decree.
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 […]
Section 375.345 – Derivative transactions permitted, conditions — definitions — rules.
Effective – 28 Aug 2007 375.345. Derivative transactions permitted, conditions — definitions — rules. — 1. As used in this section, the following words and terms mean: (1) “Admitted assets”, assets permitted to be reported as admitted assets on the statutory financial statement of the insurance company most recently required to be filed with the […]
Section 375.347 – Restriction on ownership of certain assets not exclusively controlled by an insurance company.
Effective – 28 Aug 2000 375.347. Restriction on ownership of certain assets not exclusively controlled by an insurance company. — Securities and other related assets not exclusively controlled by an insurance company shall only be held by banks, trust companies, or securities depositories that are members of or regulated by the Securities and Exchange Commission, […]
Section 375.350 – Reacquisition and holding of own stock, when — approval of director, when — effect on assets and solvency.
Effective – 28 Aug 1984 375.350. Reacquisition and holding of own stock, when — approval of director, when — effect on assets and solvency. — 1. No insurance company shall, directly or indirectly, purchase or hold, either absolutely or as collateral, its own stock, after the same has been once issued, without prior approval of […]
Section 375.355 – Acquisition of control of one company by another, director may authorize, procedure, exceptions.
Effective – 28 Aug 2001, 2 histories 375.355. Acquisition of control of one company by another, director may authorize, procedure, exceptions. — 1. Any insurance company organized under the laws of this state may hereafter, with the approval of the director first obtained, (1) Organize any subsidiary insurance company in which it shall own and […]
Section 375.360 – Note not considered payment — not to loan when insolvent.
Effective – 28 Aug 1939 375.360. Note not considered payment — not to loan when insolvent. — No note or obligation given by any stockholder, whether secured by deed of trust, mortgage or otherwise, shall be considered as payment of any part of the capital stock; and no loan of any money shall be made […]
Section 375.370 – Collateral to be assigned to company.
Effective – 28 Aug 1939 375.370. Collateral to be assigned to company. — All stocks and other evidence of indebtedness, except such as are transferable by delivery, held by insurance companies doing business in this state, as collateral for moneys loaned or other obligations, shall be regularly assigned and transferred over to said companies by […]
Section 375.380 – Dividends shall not be paid, when — penalty — liability of stockholder.
Effective – 28 Aug 1939 375.380. Dividends shall not be paid, when — penalty — liability of stockholder. — 1. It shall not be lawful for the directors, trustees or managers of any insurance company to make any dividend, except from the surplus profits arising from their business, nor for any company to solicit or […]
Section 375.390 – Officers not to use funds for private gain — penalty.
Effective – 28 Aug 1939 375.390. Officers not to use funds for private gain — penalty. — No officer, stockholder, agent or employee of any insurance company, formed under the laws of this state, or doing business herein, shall, directly or indirectly, use or employ, or permit others to use or employ, any of the […]