Missouri § 382.409 Noncompliance with law, powers of director — receiver in liquidation, powers.

Missouri Statutes

§ 382.409 — Noncompliance with law, powers of director — receiver in liquidation, powers.

Missouri § 382.409

Title XXIVBUSINESS AND FINANCIAL INSTITUTIONS

Ch. 382Insurance Holding Companies

This text of Missouri § 382.409 (Noncompliance with law, powers of director — receiver in liquidation, powers.) 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. § 382.409 (2026).

Text

1.

(1)If the director believes that the controlling producer or any other person has not materially complied with sections 382.400 to 382.410 * , or any regulation or order promulgated hereunder, after notice and opportunity to be heard, the director may order the controlling producer to cease placing business with the controlled insurer; and

(2)If it was found that because of such material noncompliance that the controlled insurer or any policyholder thereof has suffered any loss or damage, the director may maintain a civil action or intervene in an action brought by or on behalf of the insurer or policyholder for recovery of compensatory damages for the benefit of the insurer or policyholder or other appropriate relief. 2. If an order of liquidation or rehabilitation of the contr

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1. (1) If the director believes that the controlling producer or any other person has not materially complied with sections 382.400 to 382.410 * , or any regulation or order promulgated hereunder, after notice and opportunity to be heard, the director may order the controlling producer to cease placing business with the controlled insurer; and

(2) If it was found that because of such material noncompliance that the controlled insurer or any policyholder thereof has suffered any loss or damage, the director may maintain a civil action or intervene in an action brought by or on behalf of the insurer or policyholder for recovery of compensatory damages for the benefit of the insurer or policyholder or other appropriate relief.

2. If an order of liquidation or rehabilitation of the controlled insurer has been entered pursuant to sections 375.1150 to 375.1246 , and the receiver appointed under that order believes that the controlling producer or any other person has not materially complied with sections 382.400 to 382.410 * , or any regulation or order promulgated hereunder, and the insurer suffered any loss or damage therefrom, the receiver may maintain a civil action for recovery of damages or other appropriate sanctions for the benefit of the insurer.

3. Nothing contained in this section shall affect the right of the director to impose any other penalties provided for by law.

4. Nothing contained in this section is intended to or shall in any manner alter or affect the rights of policyholders, claimants, creditors or other third parties.