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Section 384.025 Ineligibility of nonadmitted insurer, grounds, when — notice to licensees.

MO Rev Stat § 384.025 (2019) (N/A)
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Effective 28 Aug 2009

384.025. 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.

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(L. 1987 H.B. 700 § 5, A.L. 2009 H.B. 577)

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