Section 375.1196 – Claims of creditor, surrender of preference required.
Effective – 28 Aug 1991 375.1196. Claims of creditor, surrender of preference required. — 1. No claims of a creditor who has received or acquired a preference, lien, conveyance, transfer, assignment or encumbrance voidable under sections 375.1150 to 375.1246 shall be allowed unless he surrenders the preference, lien, conveyance, transfer, assignment or encumbrance. If an […]
Section 375.1198 – Mutual credits or debts, setoffs allowed — exceptions.
Effective – 28 Aug 2004 375.1198. Mutual credits or debts, setoffs allowed — exceptions. — 1. Mutual debts or mutual credits, whether arising out of one or more contracts, between the insurer and another person in connection with any action or proceeding under sections 375.1150 to 375.1246, sections 374.216 and 374.217, and section 382.302 shall […]
Section 375.1200 – Report to court by liquidator, when, contents — assessment against members, court to compute an order, when.
Effective – 28 Aug 1991 375.1200. Report to court by liquidator, when, contents — assessment against members, court to compute an order, when. — 1. As soon as practicable, but not more than two years from the date of an order of liquidation under section 375.1176 of an insurer issuing assessable policies, the liquidator shall […]
Section 375.1202 – Reinsurers, amounts recoverable not reduced due to delinquency proceedings — exceptions.
Effective – 28 Aug 2002 375.1202. Reinsurers, amounts recoverable not reduced due to delinquency proceedings — exceptions. — 1. The amount recoverable by the liquidator from reinsurers shall not be reduced as a result of the delinquency proceedings, regardless of any provision in the reinsurance contract or other agreement. Payment made directly to an insured […]
Section 375.1204 – Payment of unearned premiums required — violation, penalties.
Effective – 28 Aug 2007 375.1204. Payment of unearned premiums required — violation, penalties. — 1. A producer, premium finance company, or any other person, other than the insured, responsible for the payment of a premium, shall be obligated to pay any unpaid earned premium due the insurer at the time of the declaration of […]
Section 375.1190 – List of insurer’s assets to be prepared — filing — not needed, when.
Effective – 28 Aug 1991 375.1190. List of insurer’s assets to be prepared — filing — not needed, when. — 1. As soon as practicable after the liquidation order but not later than one hundred twenty days thereafter, the liquidator shall prepare in duplicate a list of the insurer’s assets. The list shall be amended […]
Section 375.1191 – Netting agreements and qualified financial contracts, exercise of certain rights and acts not to be prohibited — termination of netting agreement, transfer of amount owed, receiver’s duties — applicability of statute.
Effective – 28 Aug 2010 375.1191. Netting agreements and qualified financial contracts, exercise of certain rights and acts not to be prohibited — termination of netting agreement, transfer of amount owed, receiver’s duties — applicability of statute. — 1. Notwithstanding any other provision of sections 375.1150 to 375.1246, including any provision permitting the modification of […]
Section 375.1192 – Fraudulent and voidable transfers — requirements — effects.
Effective – 28 Aug 1991 375.1192. Fraudulent and voidable transfers — requirements — effects. — 1. Every transfer made or suffered and every obligation incurred by an insurer within one year prior to the filing of a successful petition for rehabilitation or liquidation under sections 375.1150 to 375.1246 is fraudulent as to then existing and […]
Section 375.1194 – Transfer of real property not voidable, when.
Effective – 28 Aug 1991 375.1194. Transfer of real property not voidable, when. — 1. After a petition for rehabilitation or liquidation has been filed, a transfer of any of the real property of the insurer made to a person acting in good faith shall be valid against the receiver if made for a present […]
Section 375.1174 – Director may petition for liquidation, grounds — termination of rehabilitation proceedings, when, effect.
Effective – 28 Aug 1991 375.1174. Director may petition for liquidation, grounds — termination of rehabilitation proceedings, when, effect. — 1. Whenever the director believes further attempts to rehabilitate an insurer would substantially increase the risk of loss to creditors, policyholders or the public, or would be futile, the director may petition the court for […]