Section 375.1154

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 375

Effective - 28 Aug 1991   

  375.1154.  Delinquency proceeding, director to initiate — law to govern proceedings — situs of insurer and property this state, when — venue. — 1.  No delinquency proceeding shall be commenced after August 28, 1991, by anyone other than the director and no court shall have jurisdiction to entertain, hear or determine any proceedings commenced by any other person.

  2.  No court of this state shall have jurisdiction to entertain, hear or determine any complaint praying for the dissolution, liquidation, rehabilitation, sequestration, supervision, conservation or receivership of any insurer; or praying for an injunction or restraining order or other relief preliminary to, incidental to or relating to such proceedings other than in accordance with sections 375.1150 to 375.1246.

  3.  All assets of or owing to an insurer which was incorporated under the laws of this state and which is subject to a formal delinquency proceeding shall be deemed to have a situs within the jurisdiction of the court supervising such proceeding, and jurisdiction and venue of any action by the receiver to collect such assets shall be proper in such court.

  4.  In addition to other grounds for jurisdiction provided by the law of this state, a court of this state having jurisdiction of the subject matter has jurisdiction over a person served pursuant to applicable laws or supreme court rule in an action brought by the receiver of a domestic insurer or an alien insurer domiciled in this state:

  (1)  If the person served is an agent, broker, or other person who has at any time written policies of insurance for or has acted in any manner whatsoever on behalf of an insurer against which a delinquency proceeding has been instituted, in any action resulting from or incident to such a relationship with the insurer; or

  (2)  If the person served is a reinsurer who has at any time entered into a contract of reinsurance with an insurer against which a delinquency proceeding has been instituted, or is an agent or broker of or for the reinsurer, in any action on or incident to the reinsurance contract; or

  (3)  If the person served is or has been an officer, director, manager, trustee, organizer, promoter, or other person in a position of comparable authority or influence over an insurer against which a delinquency proceeding has been instituted, in any action resulting from or incident to such a relationship with the insurer; or

  (4)  If the person served is or was at the time of the institution of the delinquency proceeding against the insurer holding assets in which the receiver claims an interest on behalf of the insurer, in any action concerning the assets; or

  (5)  If the person served is obligated to the insurer in any way whatsoever, in any action on or incident to the obligation.

  5.  If the court on motion of any party finds that any action should as a matter of substantial justice be tried in a forum outside this state, the court may enter an appropriate order to stay further proceedings on the action in this state.

  6.  All actions herein authorized shall be brought in the circuit court of Cole County or of any county where the principal office of the insurer is or was last located, and venue of all proceedings and cases ancillary or related to such actions shall be proper in said court.

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(L. 1991 H.B. 385, et al. § 52)