2011 Missouri Revised Statutes
TITLE XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 380 County, Town and Farmers' Mutual Property Insurance Companies
Section 380.081. Noncompliance--notice, content hearing--judicial review--failure to comply, director's powers.
Noncompliance--notice, content hearing--judicial review--failure to comply, director's powers.
380.081. 1. If at any time the director of the department of insurance, financial institutions and professional registration shall find that a Missouri mutual insurance company is not operating in compliance with the provisions of sections 380.011 to 380.151, he shall notify in writing the officers and directors of such fact. The notice shall clearly set forth the director's belief, his reasons and his proposed action. The director may, after a hearing held pursuant to the provisions of chapter 536, order the company to bring its operations into compliance. Judicial review of the director's order may be sought as provided in chapter 536.
2. Refusal or neglect by any such company to comply with the requirements of the above order shall be sufficient cause for the institution of proceedings to wind up the affairs of the company. The director may, in his discretion, institute proceedings to enjoin or restrain such company from the further prosecution of its business as provided in section 380.071.
(L. 1984 H.B. 1498)Effective 1-1-85
Annotation Copyright Missouri Joint Committee on Legislative Research
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