Effective – 28 Aug 1991 375.1150. Citation of law — applicability. — 1. Sections 375.1150 to 375.1246 shall be cited as the “Insurers Supervision, Rehabilitation and Liquidation Act”. 2. The proceedings authorized by sections 375.1150 to 375.1246 may be applied to: (1) All insurers conducting business which are doing, or have done, an insurance business […]
Effective – 28 Aug 2010 375.1152. Definitions. — For purposes of sections 375.570 to 375.750 and 375.1150 to 375.1246, the following words and phrases shall mean: (1) “Allocated loss adjustment expenses”, those fees, costs or expenses reasonably chargeable to the investigation, negotiation, settlement or defense of an individual claim or loss or to the protection […]
Effective – 28 Aug 1991 375.1154. Delinquency proceeding, director to initiate — law to govern proceedings — situs of insurer and property this state, when — venue. — 1. No delinquency proceeding shall be commenced after August 28, 1991, by anyone other than the director and no court shall have jurisdiction to entertain, hear or […]
Effective – 28 Aug 2010 375.1155. Receiver may petition for injunctions, restraining orders — purposes — delinquency proceeding does not stay other rights and enforcement. — 1. Any receiver appointed in a proceeding under sections 375.1150 to 375.1246 may at any time apply for, and any court of general jurisdiction may grant, such restraining orders, […]
Effective – 28 Aug 2007 375.1156. Cooperation with receiver and director required — penalty. — 1. Any officer, manager, director, trustee, owner, employee or agent of any insurer, or any other persons with authority over or in charge of any segment of the insurer’s affairs, shall cooperate with the director or any receiver in any […]
Effective – 28 Aug 1992 375.1158. Provisions apply prospectively, exceptions — restrictions on insurer in delinquency proceeding. — 1. Unless otherwise provided, the portions of sections 375.1150 to 375.1246 which substantively affect the rights of any person shall be only applicable prospectively. The provisions of sections 375.650 to 375.700, sections 375.740 and 375.750, and sections […]
Effective – 28 Aug 2007 375.1160. Administrative supervision by director, procedures, allowed when — proceedings confidential, exceptions — powers of administrative supervisor — penalties for violations — director may adopt rules — immunity from liability for director and employees. — 1. As used in this section: (1) “Exceeded its powers” means one or more of […]
Effective – 28 Aug 2007 375.1161. Violations, penalties. — 1. 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 sections 375.1150 to 375.1246 or a rule adopted or order issued pursuant thereto, […]
Effective – 28 Aug 1991 375.1162. Director may order activities to prevent delinquency proceeding. — Whenever the director has reasonable cause to believe, and determines that any domestic insurer has committed or engaged in, or is about to commit or engage in, any act, practice, or transaction that would subject it to delinquency proceedings under […]
Effective – 28 Aug 1992 375.1164. Seizure order, director may petition for, when — effects. — 1. The director may file in a court of this state a petition alleging, with respect to a domestic insurer: (1) That there exist any grounds that would justify a court order for a formal delinquency proceeding against an […]
Effective – 28 Aug 1991 375.1165. Rehabilitation of insurer, director may petition, when — grounds. — The director may apply by petition to the court for an order authorizing him to rehabilitate a domestic insurer or an alien insurer domiciled in this state on any one or more of the following grounds: (1) The insurer […]
Effective – 28 Aug 1992 375.1166. Director to serve as rehabilitator — duties — periodic accounting required — immunity, when. — 1. An order to rehabilitate the business of a domestic insurer, or an alien insurer domiciled in this state, shall appoint the director and his successors as rehabilitator, and shall direct the rehabilitator forthwith […]
Effective – 28 Aug 1991 375.1168. Director may appoint special deputies, powers — rehabilitation procedures — criminal conduct of party, power of director — advisory committee may be appointed, when. — 1. The director as rehabilitator may appoint one or more special deputies, who shall have all the powers and responsibilities of the rehabilitator granted […]
Effective – 28 Aug 1991 375.1170. Stay of other pending actions, duration — statute of limitations not to run. — 1. Any court in this state before which any action or proceeding in which the insurer is a party, or is obligated to defend a party, is pending when a rehabilitation order against the insurer […]
Effective – 28 Aug 1992 375.1172. Records deemed public, when — exceptions. — In all proceedings and judicial reviews thereof under sections 375.1164 to 375.1170, all records of the insurer, other documents, and all department of commerce and insurance files and court records and papers, so far as they pertain to or are a part […]
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 […]
Effective – 03 Aug 2010 375.1175. Grounds for liquidation — voluntary dissolution and liquidation, conditions. — 1. The director may petition the court for an order directing him to liquidate a domestic insurer or an alien insurer domiciled in this state on the basis: (1) Of any ground for an order of rehabilitation as specified […]
Effective – 01 Jan 2017, 2 histories 375.1176. Director to be liquidator — powers and duties — special deputy may be appointed, powers — effect of liquidation — order for, issued when — plan for continued operation during appeal, contents — penalty for interference with records or property. — 1. An order to liquidate the […]
Effective – 28 Aug 1991 375.1178. Life and health policies, termination of, when. — 1. Policies of life or health insurance or annuities shall continue in force for such period and under such terms as is provided for by any applicable guaranty association or foreign guaranty association. 2. Policies of life or health insurance or […]
Effective – 28 Aug 1991 375.1180. Dissolution order, director may petition for — effect. — The director may petition for an order dissolving the corporate existence of a domestic insurer or the United States branch of an alien insurer domiciled in this state at the time he applies for a liquidation order. The court may […]
