376.1015. Department not to grant approval, when. - Missouri Statutes

Department not to grant approval, when.

376.1015. The department shall not grant or renew approvalas to any plan if the department determines:

(1) Any trustee is incompetent or untrustworthy;

(2) That any trustee has been found guilty of, or has pledguilty or no contest to a felony, a crime involving moralturpitude, or a crime punishable by imprisonment of one year ormore under the law of any state, territory, or country, whetheror not a judgment of conviction has been entered;

(3) That any trustee has had any type of insurance licenserevoked, suspended, or disciplined in this or any other state; or

(4) That the business operations of the plan are or havebeen marked, to the detriment of the employers participating inthe plan, of persons receiving benefits from the plan, or ofcreditors or the public, by the improper manipulation of assets,accounts, or specific or aggregate excess incurrence or by badfaith or if the number of covered employees in* any calendarquarter is found to be less than two hundred fifty.

(L. 1993 H.B. 709 § 28)

*Word "in" does not appear in original rolls.