Missouri Revised Statutes













Chapter 375

Provisions Applicable to All Insurance Companies

←375.1156

Section 375.1158.1

375.1160→

August 28, 2015

Provisions apply prospectively, exceptions--restrictions on insurer in delinquency proceeding.

375.1158. 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 375.950 to 375.990

shall be effective and apply only to proceedings instituted pursuant to those

sections prior to August 28, 1991. The provisions of sections 375.1150 to

375.1246 which are procedural in nature and which do not conflict with any

provision of sections 375.570 to 375.750 and sections 375.950 to 375.990

applicable to any proceeding instituted prior to August 28, 1991, shall be

applicable to proceedings instituted prior to August 28, 1991; provided that

the provisions of this subsection shall not affect any final order entered by

a court of competent jurisdiction prior to August 28, 1991.



2. No insurer that is subject to any delinquency proceedings, whether

formal or informal, administrative or judicial, shall:



(1) Be released from such proceeding, unless such proceeding is converted

into a judicial rehabilitation or liquidation proceeding;



(2) Be permitted to solicit or accept new business or request or accept

the restoration of any suspended or revoked license or certificate of

authority;



(3) Be returned to the control of its shareholders or private management;

or



(4) Have any of its assets returned to the control of its shareholders or

private management. Until all payments of or on account of the insurer's

contractual obligations by all guaranty associations and all expenses on

account of such delinquency proceedings, along with all expenses thereof and

interest on all such payments and expenses, shall have been repaid to the

department of insurance, financial institutions and professional registration

and guaranty associations or a plan of repayment by the insurer shall have

been approved by the director. Moneys collected by the director pursuant to

this section shall be transferred to the state treasurer and deposited to the

general revenue fund.



3. In any delinquency proceeding under sections 375.1150 to 375.1246,

certified copies of the statement made by the company proceeded against, or

of reports of examinations of the company made by the director or persons

appointed by him, shall be received, if offered by the director, as prima

facie evidence of the facts therein contained pertaining to the condition and

affairs of the insurer.



(L. 1991 H.B. 385, et al. § 55, A.L. 1992 H.B. 1574)







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