2017 Missouri Revised Statutes
Title VI COUNTY, TOWNSHIP AND POLITICAL SUBDIVISION GOVERNMENT
Chapter 67 Political Subdivisions, Miscellaneous Powers
Section 67.1272 Director of the department of insurance, financial institutions and professional registration, right to examine association and to take over association, when.
Effective 28 Aug 1998
Title VI COUNTY, TOWNSHIP AND POLITICAL SUBDIVISION GOVERNMENT
Chapter 6767.1272. Director of the department of insurance, financial institutions and professional registration, right to examine association and to take over association, when. — 1. The director of the department of insurance, financial institutions and professional registration shall be authorized in accordance with sections 375.171* and 375.173**, to examine the affairs of any association organized pursuant to the provisions of sections 67.1260 to 67.1275.
2. If at any time any association fails or refuses to pay any claim finally adjudged to be due pursuant to the provisions of its articles of association and bylaws, or if the director of the department of insurance, financial institutions and professional registration determines that the association is unable to satisfy its contractual obligations, he or she shall immediately take charge of the association, its assets and affairs, and wind up those affairs as now provided by law in the case of life insurance companies.
(L. 1998 S.B. 676 § 67.172)
*Section 375.171 was repealed by H.B. 1574 § A, 1992.
**Section 375.173 was repealed by H.B. 385, et al. § A, 1991.
