375.1180. Dissolution order, director may petition for--effect. - Missouri Statutes

Dissolution order, director may petition for--effect.

375.1180. The director may petition for an order dissolvingthe corporate existence of a domestic insurer or the UnitedStates branch of an alien insurer domiciled in this state at thetime he applies for a liquidation order. The court may orderdissolution of the corporation upon petition by the director uponor after the granting of a liquidation order. If the dissolutionhas not previously been ordered, it shall be effected byoperation of law upon the discharge of the liquidator if theinsurer is insolvent but may be ordered by the court upon thedischarge of the liquidator if the insurer is under a liquidationorder for some other reason. The court ordering such dissolutionshall continue to supervise the dissolution until the dischargeof the liquidator.

(L. 1991 H.B. 385, et al. § 68)