Missouri § 379.988 Mutual holding company subject to supervision of director, dissolution or liquidation — demutualization.

Missouri Statutes

§ 379.988 — Mutual holding company subject to supervision of director, dissolution or liquidation — demutualization.

Missouri § 379.988

Title XXIVBUSINESS AND FINANCIAL INSTITUTIONS

Ch. 379Insurance Other Than Life

This text of Missouri § 379.988 (Mutual holding company subject to supervision of director, dissolution or liquidation — demutualization.) 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. § 379.988 (2026).

Text

1.A mutual holding company is subject to supervision of the director in the same manner as an insurer subject to the provisions of this chapter and shall automatically be a party to any proceeding pursuant to sections 375.1150 to 375.1246 involving an insurance company which, as a result of a reorganization pursuant to sections 375.1150 to 375.1246 , is a subsidiary of the mutual holding company or a stock holding company created pursuant to section 379.982 . In a proceeding pursuant to sections 375.1150 to 375.1246 involving the reorganized insurance company, the assets of the mutual holding company are deemed to be assets of the estate of the reorganized insurance company for purposes of satisfying the claims of the reorganized company's policyholders. A mutual holding company shall

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1. A mutual holding company is subject to supervision of the director in the same manner as an insurer subject to the provisions of this chapter and shall automatically be a party to any proceeding pursuant to sections 375.1150 to 375.1246 involving an insurance company which, as a result of a reorganization pursuant to sections 375.1150 to 375.1246 , is a subsidiary of the mutual holding company or a stock holding company created pursuant to section 379.982 . In a proceeding pursuant to sections 375.1150 to 375.1246 involving the reorganized insurance company, the assets of the mutual holding company are deemed to be assets of the estate of the reorganized insurance company for purposes of satisfying the claims of the reorganized company's policyholders. A mutual holding company shall not dissolve or liquidate without the approval of the director or as ordered by the court pursuant to sections 375.1150 to 375.1246 .

2. Sections 375.201 , 375.206 , 375.216 , 375.221 and 375.226 are applicable to a demutualization of a mutual holding company as if it were a mutual insurance company. This section does not apply to those companies organized under chapter 354 or chapter 355 and does apply only to for-profit mutual property and casualty insurance companies.