☰ Revisor of Missouri

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 375

< > Effective - 01 Jan 2017, 2 histories, see footnote bottom

  375.720.  Penalty for failure or refusal to deliver assets to director. — 1.  Whenever, by this chapter, or by any other law of this state, the director is authorized or required to take possession of any of the general assets of any insurer, it is unlawful for any person or company to knowingly neglect or refuse to deliver to the director, on order or demand of the director, any books, papers, evidences of title or debt, or any property belonging to any such insurer in its, his or their possession, or under his, its or their control.

  2.  If the director determines that a person has engaged, is engaging in, or has taken a substantial step toward engaging in an act, practice or course of business constituting a violation of this section or a rule adopted or order issued pursuant thereto, or that a person has materially aided or is materially aiding an act, practice, omission, or course of business constituting a violation of this section or a rule adopted or order issued pursuant thereto, the director may issue such administrative orders as authorized under section 374.046.  A violation of this section is a level three violation under section 374.049.  The director may also suspend or revoke the license or certificate of authority of such person for any willful violation.

  3.  If the director believes that a person has engaged, is engaging in, or has taken a substantial step toward engaging in an act, practice or course of business constituting a violation of this section or a rule adopted or order issued pursuant thereto, or that a person has materially aided or is materially aiding an act, practice, omission, or course of business constituting a violation of this section or a rule adopted or order issued pursuant thereto, the director may maintain a civil action for relief authorized under section 374.048.  A violation of this section is a level three violation under section 374.049.

  4.  Any person who knowingly engages in any act, practice, omission, or course of business in violation of this section is guilty of a class D felony.  If the offender holds a license or certificate of authority under the insurance laws of this state, the court imposing sentence shall order the director to revoke such license.

  5.  The director may refer such evidence as is available concerning violations of this section to the proper prosecuting attorney, who with or without a criminal reference, or the attorney general under section 27.030, may institute the appropriate criminal proceedings.

  6.  Nothing in this section shall limit the power of the state to punish any person for any conduct that constitutes a crime under any other state statute.

­­--------

(RSMo 1939 § 6063, A.L. 1986 H.B. 1103, A.L. 1992 H.B. 1574, A.L. 2007 S.B. 66, A.L. 2014 S.B. 491)

Prior revisions: 1929 § 5952; 1919 § 6360; 1909 § 7090

Effective 1-01-17


---- end of effective  01 Jan 2017 ----

use this link to bookmark section  375.720


 - All versions
Effective End
375.720 1/1/2017
375.720 8/28/2007 1/1/2017

Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law
In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions End Report

Site changes Pictures Contact

Other Links
Legislative Research Oversight MOLIS
Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House