Section 375.470 – Penalty for violations by director.
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 […]
Section 375.480 – Withdrawal of securities — notice — examination by director.
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 […]
Section 375.490 – Payment of judgments out of deposits.
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 […]
Section 375.500 – Distribution of assets.
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 […]
Section 375.510 – Reinsurance — rights and liabilities — insolvency.
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 […]
Section 375.520 – Costs to be paid from deposits — amount.
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 […]
Section 375.530 – Accounting among beneficiaries of foreign deposits.
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, […]
Section 375.532 – Investment in debt of institution permitted, when.
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 […]
Section 375.445 – Company operating fraudulently or in bad faith, penalties.
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 […]
Section 375.420 – Vexatious refusal to pay claim, damages for, exception.
Effective – 28 Aug 1975 375.420. Vexatious refusal to pay claim, damages for, exception. — In any action against any insurance company to recover the amount of any loss under a policy of automobile, fire, cyclone, lightning, life, health, accident, employers’ liability, burglary, theft, embezzlement, fidelity, indemnity, marine or other insurance except automobile liability insurance, […]