375.440. Revocation of license for failure to comply with judicial decree. - Missouri Statutes

Revocation of license for failure to comply with judicial decree.

375.440. Any person, who has heretofore obtained or may hereafterobtain, in any of the courts of this state, a decree against any insurancecompany, doing business in this state, commanding or directing said insurancecompany to specifically perform a contract of insurance, may, if the insurancecompany against which said decree is obtained, fails, for a period of fifteendays after the rendition of said decree, to comply with the same, obtain acopy of said decree, certified to under the hand and seal of the clerk of thecourt in which said decree was rendered, and transmit the same, together withthe certificate of said clerk, reciting therein, the failure of such insurancecompany to comply with said decree, and transmit the same to the director ofthe department of insurance, financial institutions and professionalregistration of the state of Missouri, and immediately upon receipt thereof,the said director of the department of insurance, financial institutions andprofessional registration shall cause such insurance company to be notified ofthe fact of the filing of such certified copy of said decree and certificate,and if such insurance company fails for a period of thirty days thereafter tocomply with said decree, the certificate of authority or license to dobusiness issued or granted to such insurance company, shall immediately besuspended or revoked by the director of the department of insurance, financialinstitutions and professional registration, until such decree shall besatisfied; provided, however, the foregoing shall not be applicable while anappeal is pending if a supersedeas bond shall have been given.

(RSMo 1939 § 6042)

Prior revisions: 1929 § 5931; 1919 § 6339