375.720. Penalty for failure or refusal to deliver assets to director.

MISSOURI STATUTES AND CODES

375.720. Penalty for failure or refusal to deliver assets to director.

Penalty for failure or refusal to deliver assets to director.

375.720. 1. Whenever, by this chapter, or by any other law of thisstate, the director is authorized or required to take possession of any ofthe general assets of any insurer, it is unlawful for any person or companyto knowingly neglect or refuse to deliver to the director, on order ordemand of the director, any books, papers, evidences of title or debt, orany property belonging to any such insurer in its, his or their possession,or under his, its or their control.

2. If the director determines that a person has engaged, is engagingin, or has taken a substantial step toward engaging in an act, practice orcourse of business constituting a violation of this section or a ruleadopted or order issued pursuant thereto, or that a person has materiallyaided or is materially aiding an act, practice, omission, or course ofbusiness constituting a violation of this section or a rule adopted ororder issued pursuant thereto, the director may issue such administrativeorders as authorized under section 374.046, RSMo. A violation of thissection is a level three violation under section 374.049, RSMo. Thedirector may also suspend or revoke the license or certificate of authorityof such person for any willful violation.

3. If the director believes that a person has engaged, is engagingin, or has taken a substantial step toward engaging in an act, practice orcourse of business constituting a violation of this section or a ruleadopted or order issued pursuant thereto, or that a person has materiallyaided or is materially aiding an act, practice, omission, or course ofbusiness constituting a violation of this section or a rule adopted ororder issued pursuant thereto, the director may maintain a civil action forrelief authorized under section 374.048, RSMo. A violation of this sectionis a level three violation under section 374.049, RSMo.

4. Any person who knowingly engages in any act, practice, omission,or course of business in violation of this section is guilty of a class Cfelony. If the offender holds a license or certificate of authority underthe insurance laws of this state, the court imposing sentence shall orderthe director to revoke such license.

5. The director may refer such evidence as is available concerningviolations of this section to the proper prosecuting attorney, who with orwithout a criminal reference, or the attorney general under section 27.030,RSMo, may institute the appropriate criminal proceedings.

6. Nothing in this section shall limit the power of the state topunish any person for any conduct that constitutes a crime under any otherstate statute.