380.491. Director to examine, when--expenses. - Missouri Statutes

Director to examine, when--expenses.

380.491. If the director believes that a company may beconducting its affairs in a manner contrary to law or detrimentalto the interests of the policyholders or if requested byresolution adopted at any special or annual meeting of itsmembers, he shall cause the books and affairs of any companyoperating under the provisions of sections 380.201 to 380.591 tobe examined and shall furnish a report of such examination to thecompany examined. If the company is conducting its affairs in amanner contrary to law and detrimental to the interests of thepolicyholders, the director shall take such action as shall bestprotect their interests. The expense of necessary examinationsshall be paid by the company examined.

(L. 1984 H.B. 1498)

Effective 1-1-85