374.220. Expenses, how paid. - Missouri Statutes

Expenses, how paid.

374.220. 1. The expenses of proceedings against insurance companies,and examinations of the assets or liabilities and valuations of policies ofinsurance companies doing business in this state, shall be assessed by thedirector upon the company proceeded against or examined, or whose policieshave been valued.

2. If the company has been or shall be adjudged insolvent, or shallneglect, fail or refuse to pay the expenses, the director may approve thepayment of the expenses, in whole or in part, which shall be paid in likemanner as other expenses of the department; and the amount so paid,together with cost, charges and fees for collecting the same, shall be afirst lien upon all the assets and property of such company, and may berecovered by the director of revenue in any court of competentjurisdiction; or if said company be in liquidation, or process of beingwound up, the cost and expenses of settling its affairs shall be allowedand taxed as cost against said company, and shall be a first lien upon andpayable out of its assets. The director of revenue shall deposit such sumsin the state treasury to reimburse the insurance fund.

3. Before any costs of any examination or valuation shall be paid,vouchers for the same shall be submitted to and approved by thecommissioner of administration.

4. When any examination or valuation is made by the director inperson or by any salaried employee of the department, the cost of makingthe same shall be certified to the director of revenue for collection.

(RSMo 1939 § 5795, A.L. 1945 p. 1018, A. 1949 H.B. 2115, A.L. 1967 p. 516, A.L. 1991 H.B. 385, et al., A.L. 2008 S.B. 788)

Prior revisions: 1929 § 5685; 1919 § 6096; 1909 § 6890