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2017 Missouri Revised Statutes
Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 384 Surplus Lines Insurance
Section 384.025 Ineligibility of nonadmitted insurer, grounds, when — notice to licensees.
Universal Citation: MO Rev Stat § 384.025 (2017)
Effective 28 Aug 2009
Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 384384.025. Ineligibility of nonadmitted insurer, grounds, when — notice to licensees. — 1. If at any time the director has reason to believe that an eligible surplus lines insurer:
(1) Is in unsound financial condition;
(2) Is no longer eligible under section 384.021;
(3) Has willfully violated the laws of this state; or
(4) Does not make reasonably prompt payment of just losses and claims in this state or elsewhere; the director may declare it ineligible.
2. The director shall promptly publish notice of all such declarations in any public electronic format.
(L. 1987 H.B. 700 § 5, A.L. 2009 H.B. 577)
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