380.081. Noncompliance--notice, content hearing--judicial review--failure to comply, director's powers. - Missouri Statutes

Noncompliance--notice, content hearing--judicial review--failure tocomply, director's powers.

380.081. 1. If at any time the director of the department of insurance,financial institutions and professional registration shall find that aMissouri mutual insurance company is not operating in compliance with theprovisions of sections 380.011 to 380.151, he shall notify in writing theofficers and directors of such fact. The notice shall clearly set forth thedirector's belief, his reasons and his proposed action. The director may,after a hearing held pursuant to the provisions of chapter 536, RSMo, orderthe company to bring its operations into compliance. Judicial review of thedirector's order may be sought as provided in chapter 536, RSMo.

2. Refusal or neglect by any such company to comply with therequirements of the above order shall be sufficient cause for the institutionof proceedings to wind up the affairs of the company. The director may, inhis discretion, institute proceedings to enjoin or restrain such company fromthe further prosecution of its business as provided in section 380.071.

(L. 1984 H.B. 1498)

Effective 1-1-85