Director may suspend or revoke permits and ask for a receiver
If an insurance company breaks the rules in this law, the director of commerce and insurance can take away that company's permission to do business in Missouri. If an insurance company does not pay money it owes to an injured worker and has no good reason for not paying, the director can take away its permission to operate and can ask a court to put someone else in charge of that company.
287.360. may or permits and ask for a . — For any violation of the of this chapter the may suspend or revoke the of any to do business in this state. If any insurance carrier fails or delays to pay any finally determined to be due, the director shall hear the , and if such failure is without reasonable excuse he may revoke or suspend the authority of such to do business in this state, and in a proper case may apply for the appointment of a receiver for such carrier.
(RSMo 1939 § 3720)
Prior revision: 1929 § 3330
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Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.