376.1027. Plan in unsound condition, powers of director. - Missouri Statutes

Plan in unsound condition, powers of director.

376.1027. 1. If the director is of the opinion that amultiple employer self-insured health plan is in an unsoundcondition, that it has failed to comply with the law or anyapplicable regulations or orders issued by the director, or thatit is in a condition which renders its proceedings hazardous tothe public or to persons covered under the plan, the directormay, after notice and opportunity for a hearing, revoke orsuspend the license of the plan or, in lieu thereof, bring acivil action in the county which has venue of an action againstthe multiple employer self-insured health plan under otherprovisions of law. The court may impose a fine not to exceedfifty thousand dollars for each violation or ground.

2. If the director is of the opinion that any of thegrounds set forth in subsection 1 of this section exist regardinga plan domiciled in this state, he may commence delinquencyproceedings against the plan and supervise, rehabilitate, orliquidate such plan in accordance with the procedures set forthin sections 375.1150 to 375.1246, RSMo.

(L. 1993 H.B. 709 § 33)