Section 375.440

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 375

Effective - 28 Aug 1939   

  375.440.  Revocation of license for failure to comply with judicial decree. — Any person, who has heretofore obtained or may hereafter obtain, in any of the courts of this state, a decree against any insurance company, doing business in this state, commanding or directing said insurance company to specifically perform a contract of insurance, may, if the insurance company against which said decree is obtained, fails, for a period of fifteen days after the rendition of said decree, to comply with the same, obtain a copy of said decree, certified to under the hand and seal of the clerk of the court in which said decree was rendered, and transmit the same, together with the certificate of said clerk, reciting therein, the failure of such insurance company to comply with said decree, and transmit the same to the director of the department of commerce and insurance of the state of Missouri, and immediately upon receipt thereof, the said director of the department of commerce and insurance shall cause such insurance company to be notified of the fact of the filing of such certified copy of said decree and certificate, and if such insurance company fails for a period of thirty days thereafter to comply with said decree, the certificate of authority or license to do business issued or granted to such insurance company, shall immediately be suspended or revoked by the director of the department of commerce and insurance, until such decree shall be satisfied; provided, however, the foregoing shall not be applicable while an appeal is pending if a supersedeas bond shall have been given.

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(RSMo 1939 § 6042)

Prior revisions: 1929 § 5931; 1919 § 6339