354.340. Unsatisfied judgments against corporation--suspension or revocation of certificate of authority until judgment satisfied. - Missouri Statutes

Unsatisfied judgments against corporation--suspension or revocationof certificate of authority until judgment satisfied.

354.340. Whenever any judgment shall be obtained in any of the courts ofthis state against any corporation subject to the provisions of sections354.010 to 354.380 doing business in this state, and said judgment shallremain unsatisfied for fifteen days after execution shall have been lawfullyissued thereon, the certificate of authority or license to do business issuedor granted to such corporation shall immediately be suspended or revoked bythe director of the department of insurance, financial institutions andprofessional registration, upon said director being notified thereof, and suchinsurance company shall, after such suspension or revocation, be prohibitedfrom transacting any business in this state until such judgment shall besatisfied.

(L. 1983 H.B. 127)