376.730. Liens, association may impose, when. - Missouri Statutes

Liens, association may impose, when.

376.730. In carrying out its duties under the provisions ofsections 376.715 to 376.758, the association may, subject toapproval by the court:

(1) Impose permanent policy or contract liens in connectionwith any guarantee, assumption or reinsurance agreement, if theassociation finds that the amounts which can be assessed undersections 376.715 to 376.758 are less than the amounts needed toassure full and prompt performance of the association's dutiesunder sections 376.715 to 376.758, or that the economic orfinancial conditions as they affect member insurers aresufficiently adverse to render the imposition of such permanentpolicy or contract liens, to be in the public interest;

(2) Impose temporary moratoriums or liens on payments ofcash values and policy loans, or any other right to withdrawfunds held in conjunction with policies or contracts, inaddition to any contractual provisions for deferral of cash orpolicy loan value.

(L. 1988 S.B. 430 § 11)