375.1155. Receiver may petition for injunctions, restraining orders--purposes. - Missouri Statutes

Receiver may petition for injunctions, restraining orders--purposes.

375.1155. 1. Any receiver appointed in a proceeding undersections 375.1150 to 375.1246 may at any time apply for, and anycourt of general jurisdiction may grant, such restraining orders,preliminary and permanent injunctions, and other orders as may bedeemed necessary and proper to prevent:

(1) The transaction of further business;

(2) The transfer of property;

(3) Interference with the receiver or with a proceedingunder sections 375.1150 to 375.1246;

(4) Waste of the insurer's assets;

(5) Dissipation and transfer of bank accounts;

(6) The institution or further prosecution of any actionsor proceedings;

(7) The obtaining of preferences, judgments, attachments,garnishments or liens against the insurer, its assets or itspolicyholders;

(8) The levying of execution against the insurer, itsassets or its policyholders;

(9) The making of any sale or deed for nonpayment of taxesor assessments that would lessen the value of the assets of theinsurer;

(10) The withholding from the receiver of books, accounts,documents, or other records relating to the business of theinsurer; or

(11) Any other threatened or contemplated action that mightlessen the value of the insurer's assets or prejudice the rightsof policyholders, creditors or shareholders, or theadministration of any proceeding under this act*.

2. The receiver may apply to any court outside of the statefor the relief described in subsection 1 of this section.

(L. 1991 H.B. 385, et al. § 53, A.L. 1992 H.B. 1574)

*"This act" (H.B. 1574, 1992) contained numerous sections. Consult Disposition of Sections table for a definitive listing.