LegalFix
Sign In

Section 382.280 Director to take possession, when.

MO Rev Stat § 382.280 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Effective 28 Aug 1971

382.280. Director to take possession, when. — Whenever it appears to the director that any person has committed a violation of sections 382.010 to 382.300 which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders or the public, then the director may proceed as provided by law to take possession of the property of such domestic insurer and to conduct the business thereof.

­­--------

(L. 1971 S.B. 101 § 31)

Previous Section
Section 382.277 Violation, basis for disapproving dividends or distributions and placing insurer under order of suspension.
Next Section
Section 382.285 Liquidation or rehabilitation, effects — maximum amount recoverable — liability, parent company, when.