Missouri § 375.1292 Consent to transfer, effect.

Missouri Statutes

§ 375.1292 — Consent to transfer, effect.

Missouri § 375.1292

Title XXIVBUSINESS AND FINANCIAL INSTITUTIONS

Ch. 375Provisions Applicable to All Insurance Companies

This text of Missouri § 375.1292 (Consent to transfer, effect.) is published on Counsel Stack Legal Research, covering Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mo. Rev. Stat. § 375.1292 (2026).

Text

If a policyholder consents to the transfer pursuant to section 375.1290 , or if the transfer is effected under section 375.1294 , there shall be a novation of the contract of insurance subject to the assumption reinsurance agreement with the result that the transferring insurer shall thereby be relieved of all insurance obligations or risks transferred under the assumption reinsurance agreement, and the assuming insurer shall become directly and solely liable to the policyholder for those insurance obligations or risks.

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If a policyholder consents to the transfer pursuant to section 375.1290 , or if the transfer is effected under section 375.1294 , there shall be a novation of the contract of insurance subject to the assumption reinsurance agreement with the result that the transferring insurer shall thereby be relieved of all insurance obligations or risks transferred under the assumption reinsurance agreement, and the assuming insurer shall become directly and solely liable to the policyholder for those insurance obligations or risks.