375.1152. For purposes of sections 375.570 to 375.750 and 375.1150 to375.1246, the following words and phrases shall mean:
(1) "Allocated loss adjustment expenses", those fees, costs or expensesreasonably chargeable to the investigation, negotiation, settlement or defenseof an individual claim or loss or to the protection and perfection of thesubrogation rights of any insolvent insurer arising out of a policy ofinsurance issued by the insolvent insurer. "Allocated loss adjustmentexpenses" shall include all court costs, fees and expenses; fees for serviceof process; fees to attorneys; costs of undercover operative and detectiveservices; fees of independent adjusters or attorneys for investigation oradjustment of claims beyond initial investigation; costs of employing expertsfor preparation of maps, photographs, diagrams, chemical or physical analysisor for advice, opinion or testimony concerning claims under investigation orin litigation; costs for legal transcripts or testimony taken at coroner'sinquests, criminal or civil proceedings; costs for copies of any publicrecords; costs of depositions and court-reported or -recorded statements."Allocated loss adjustment expenses" shall not include the salaries ofofficials, administrators or other employees or normal overhead charges suchas rent, postage, telephone, lighting, cleaning, heating or similar expenses;
(2) "Ancillary state", any state other than a domiciliary state;
(3) "Creditor", a person having any claim, whether matured or unmatured,liquidated or unliquidated, secured or unsecured, absolute, fixed orcontingent;
(4) "Delinquency proceeding", any proceeding instituted against aninsurer for the purpose of liquidating, rehabilitating, reorganizing orconserving such insurer, and any summary proceeding under sections 375.1160,375.1162 and 375.1164;
(5) "Director", the director of the department of insurance, financialinstitutions and professional registration;
(6) "Doing business" includes any of the following acts, whethereffected by mail or otherwise:
(a) The issuance or delivery of contracts of insurance to personsresident in this state;
(b) The solicitation of applications for such contracts, or othernegotiations preliminary to the execution of such contracts;
(c) The collection of premiums, membership fees, assessments, or otherconsideration for such contracts;
(d) The transaction of matters subsequent to execution of such contractsand arising out of them; or
(e) Operating under a license or certificate of authority, as aninsurer, issued by the department of insurance, financial institutions andprofessional registration;
(7) "Domiciliary state", the state in which an insurer is incorporatedor organized or, in the case of an alien insurer, its state of entry;
(8) "Fair consideration" is given for property or obligation:
(a) When in exchange for such property or obligation, as a fairequivalent thereof, and in good faith, property is conveyed or services arerendered or an obligation is incurred or an antecedent debt is satisfied; or
(b) When such property or obligation is received in good faith to securea present advance or antecedent debt in an amount not disproportionately smallas compared to the value of the property or obligation obtained;
(9) "Foreign country", any jurisdiction not in the United States;
(10) "Formal delinquency proceeding", any liquidation or rehabilitationproceeding;
(11) "General assets", all property, real, personal, or otherwise, notspecifically mortgaged, pledged, deposited or otherwise encumbered for thesecurity or benefit of specified persons or classes of persons. As tospecifically encumbered property, "general assets" includes all such propertyor its proceeds in excess of the amount necessary to discharge the sum or sumssecured thereby. Assets held in trust and on deposit for the security orbenefit of all policyholders or all policyholders and creditors, in more thana single state, shall be treated as general assets;
(12) "Guaranty association", the Missouri property and casualtyinsurance guaranty association created by sections 375.771 to 375.779, asamended, the Missouri life and health insurance guaranty association createdby sections 376.715 to 376.758, RSMo, as amended, and any other similar entitynow or hereafter created by the laws of this state for the payment of claimsof insolvent insurers. "Foreign guaranty association" means any similarentities now in existence or hereafter created by the laws of any other state;
(13) "Insolvency" or "insolvent" means:
(a) For an insurer issuing only assessable fire insurance policies:
a. The inability to pay an obligation within thirty days after itbecomes payable; or
b. If an assessment be made within thirty days after such date, theinability to pay such obligation thirty days following the date specified inthe first assessment notice issued after the date of loss;
(b) For any other insurer, that it is unable to pay its obligations whenthey are due, or when its admitted assets do not exceed its liabilities plusthe greater of:
a. Any capital and surplus required by law for its organization; or
b. The total par or stated value of its authorized and issued capitalstock;
(c) As to any insurer licensed to do business in this state as of August28, 1991, which does not meet the standards established under paragraph (b) ofthis subdivision, the term "insolvency" or "insolvent" shall mean, for aperiod not to exceed three years from August 28, 1991, that it is unable topay its obligations when they are due or that its admitted assets do notexceed its liabilities plus any required capital contribution ordered by thedirector under any other provisions of law;
(d) For purposes of this subdivision "liabilities" shall include but notbe limited to reserves required by statute or by the department of insurance,financial institutions and professional registration regulations or specificrequirements imposed by the director upon a subject company at the time ofadmission or subsequent thereto;
(e) For purposes of this subdivision, an obligation is payable withinninety days of the resolution of any dispute regarding the obligation;
(14) "Insurer", any person who has done, purports to do, is doing or islicensed to do insurance business as described in section 375.1150, and is orhas been subject to the authority of, or to liquidation, rehabilitation,reorganization, supervision, or conservation by, any insurance department ofany state. For purposes of sections 375.1150 to 375.1246, any other personsincluded under section 375.1150 shall be deemed to be insurers;
(15) "Preferred claim", any claim with respect to which the terms ofsections 375.1150 to 375.1246 accord priority of payment from the generalassets of the insurer;
(16) "Receiver", a receiver, liquidator, administrative supervisor,rehabilitator or conservator, as the context requires;
(17) "Reciprocal state", any state other than this state in which insubstance and effect, provisions substantially similar to subsection 1 ofsection 375.1176 and sections 375.1235, 375.1236, 375.1240, 375.1242 and375.1244 have been enacted and are in force, and in which laws are in forcerequiring that the director of the state department of insurance, financialinstitutions and professional registration or equivalent official be thereceiver of a delinquent insurer, and in which some provision exists for theavoidance of fraudulent conveyances and preferential transfers;
(18) "Secured claim", any claim secured by mortgage, trust deed, pledge,deposit as security, escrow, or otherwise, including a pledge of assetsallocated to a separate account established pursuant to section 376.309, RSMo;but not including special deposit claims or claims against general assets.The term also includes claims which have become liens upon specific depositclaims or claims against general assets. The term also includes claims whichhave become liens upon specific assets by reason of judicial process;
(19) "Special deposit claim", any claim secured by a deposit madepursuant to statute for the security or benefit of a limited class or classesof persons, but not including any claim secured by general assets;
(20) "State", any state, district, or territory of the United States andthe Panama Canal Zone;
(21) "Transfer" shall include the sale and every other and differentmode, direct or indirect, of disposing of or of parting with property or withan interest therein, or with the possession thereof, or of fixing a lien uponproperty or upon an interest therein, absolutely or conditionally,voluntarily, by or without judicial proceedings. The retention of a securitytitle to property delivered to a debtor shall be deemed a transfer suffered bythe debtor.
375.1152. For purposes of sections 375.570 to 375.750 and 375.1150 to375.1246, the following words and phrases shall mean:
(1) "Allocated loss adjustment expenses", those fees, costs or expensesreasonably chargeable to the investigation, negotiation, settlement or defenseof an individual claim or loss or to the protection and perfection of thesubrogation rights of any insolvent insurer arising out of a policy ofinsurance issued by the insolvent insurer. "Allocated loss adjustmentexpenses" shall include all court costs, fees and expenses; fees for serviceof process; fees to attorneys; costs of undercover operative and detectiveservices; fees of independent adjusters or attorneys for investigation oradjustment of claims beyond initial investigation; costs of employing expertsfor preparation of maps, photographs, diagrams, chemical or physical analysisor for advice, opinion or testimony concerning claims under investigation orin litigation; costs for legal transcripts or testimony taken at coroner'sinquests, criminal or civil proceedings; costs for copies of any publicrecords; costs of depositions and court-reported or -recorded statements."Allocated loss adjustment expenses" shall not include the salaries ofofficials, administrators or other employees or normal overhead charges suchas rent, postage, telephone, lighting, cleaning, heating or similar expenses;
(2) "Ancillary state", any state other than a domiciliary state;
(3) "Creditor", a person having any claim, whether matured or unmatured,liquidated or unliquidated, secured or unsecured, absolute, fixed orcontingent;
(4) "Delinquency proceeding", any proceeding instituted against aninsurer for the purpose of liquidating, rehabilitating, reorganizing orconserving such insurer, and any summary proceeding under sections 375.1160,375.1162 and 375.1164;
(5) "Director", the director of the department of insurance, financialinstitutions and professional registration;
(6) "Doing business" includes any of the following acts, whethereffected by mail or otherwise:
(a) The issuance or delivery of contracts of insurance to personsresident in this state;
(b) The solicitation of applications for such contracts, or othernegotiations preliminary to the execution of such contracts;
(c) The collection of premiums, membership fees, assessments, or otherconsideration for such contracts;
(d) The transaction of matters subsequent to execution of such contractsand arising out of them; or
(e) Operating under a license or certificate of authority, as aninsurer, issued by the department of insurance, financial institutions andprofessional registration;
(7) "Domiciliary state", the state in which an insurer is incorporatedor organized or, in the case of an alien insurer, its state of entry;
(8) "Fair consideration" is given for property or obligation:
(a) When in exchange for such property or obligation, as a fairequivalent thereof, and in good faith, property is conveyed or services arerendered or an obligation is incurred or an antecedent debt is satisfied; or
(b) When such property or obligation is received in good faith to securea present advance or antecedent debt in an amount not disproportionately smallas compared to the value of the property or obligation obtained;
(9) "Foreign country", any jurisdiction not in the United States;
(10) "Formal delinquency proceeding", any liquidation or rehabilitationproceeding;
(11) "General assets", all property, real, personal, or otherwise, notspecifically mortgaged, pledged, deposited or otherwise encumbered for thesecurity or benefit of specified persons or classes of persons. As tospecifically encumbered property, "general assets" includes all such propertyor its proceeds in excess of the amount necessary to discharge the sum or sumssecured thereby. Assets held in trust and on deposit for the security orbenefit of all policyholders or all policyholders and creditors, in more thana single state, shall be treated as general assets;
(12) "Guaranty association", the Missouri property and casualtyinsurance guaranty association created by sections 375.771 to 375.779, asamended, the Missouri life and health insurance guaranty association createdby sections 376.715 to 376.758, RSMo, as amended, and any other similar entitynow or hereafter created by the laws of this state for the payment of claimsof insolvent insurers. "Foreign guaranty association" means any similarentities now in existence or hereafter created by the laws of any other state;
(13) "Insolvency" or "insolvent" means:
(a) For an insurer issuing only assessable fire insurance policies:
a. The inability to pay an obligation within thirty days after itbecomes payable; or
b. If an assessment be made within thirty days after such date, theinability to pay such obligation thirty days following the date specified inthe first assessment notice issued after the date of loss;
(b) For any other insurer, that it is unable to pay its obligations whenthey are due, or when its admitted assets do not exceed its liabilities plusthe greater of:
a. Any capital and surplus required by law for its organization; or
b. The total par or stated value of its authorized and issued capitalstock;
(c) As to any insurer licensed to do business in this state as of August28, 1991, which does not meet the standards established under paragraph (b) ofthis subdivision, the term "insolvency" or "insolvent" shall mean, for aperiod not to exceed three years from August 28, 1991, that it is unable topay its obligations when they are due or that its admitted assets do notexceed its liabilities plus any required capital contribution ordered by thedirector under any other provisions of law;
(d) For purposes of this subdivision "liabilities" shall include but notbe limited to reserves required by statute or by the department of insurance,financial institutions and professional registration regulations or specificrequirements imposed by the director upon a subject company at the time ofadmission or subsequent thereto;
(e) For purposes of this subdivision, an obligation is payable withinninety days of the resolution of any dispute regarding the obligation;
(14) "Insurer", any person who has done, purports to do, is doing or islicensed to do insurance business as described in section 375.1150, and is orhas been subject to the authority of, or to liquidation, rehabilitation,reorganization, supervision, or conservation by, any insurance department ofany state. For purposes of sections 375.1150 to 375.1246, any other personsincluded under section 375.1150 shall be deemed to be insurers;
(15) "Preferred claim", any claim with respect to which the terms ofsections 375.1150 to 375.1246 accord priority of payment from the generalassets of the insurer;
(16) "Receiver", a receiver, liquidator, administrative supervisor,rehabilitator or conservator, as the context requires;
(17) "Reciprocal state", any state other than this state in which insubstance and effect, provisions substantially similar to subsection 1 ofsection 375.1176 and sections 375.1235, 375.1236, 375.1240, 375.1242 and375.1244 have been enacted and are in force, and in which laws are in forcerequiring that the director of the state department of insurance, financialinstitutions and professional registration or equivalent official be thereceiver of a delinquent insurer, and in which some provision exists for theavoidance of fraudulent conveyances and preferential transfers;
(18) "Secured claim", any claim secured by mortgage, trust deed, pledge,deposit as security, escrow, or otherwise, including a pledge of assetsallocated to a separate account established pursuant to section 376.309, RSMo;but not including special deposit claims or claims against general assets.The term also includes claims which have become liens upon specific depositclaims or claims against general assets. The term also includes claims whichhave become liens upon specific assets by reason of judicial process;
(19) "Special deposit claim", any claim secured by a deposit madepursuant to statute for the security or benefit of a limited class or classesof persons, but not including any claim secured by general assets;
(20) "State", any state, district, or territory of the United States andthe Panama Canal Zone;
(21) "Transfer" shall include the sale and every other and differentmode, direct or indirect, of disposing of or of parting with property or withan interest therein, or with the possession thereof, or of fixing a lien uponproperty or upon an interest therein, absolutely or conditionally,voluntarily, by or without judicial proceedings. The retention of a securitytitle to property delivered to a debtor shall be deemed a transfer suffered bythe debtor.
375.1152. For purposes of sections 375.570 to 375.750 and 375.1150 to375.1246, the following words and phrases shall mean:
(1) "Allocated loss adjustment expenses", those fees, costs or expensesreasonably chargeable to the investigation, negotiation, settlement or defenseof an individual claim or loss or to the protection and perfection of thesubrogation rights of any insolvent insurer arising out of a policy ofinsurance issued by the insolvent insurer. "Allocated loss adjustmentexpenses" shall include all court costs, fees and expenses; fees for serviceof process; fees to attorneys; costs of undercover operative and detectiveservices; fees of independent adjusters or attorneys for investigation oradjustment of claims beyond initial investigation; costs of employing expertsfor preparation of maps, photographs, diagrams, chemical or physical analysisor for advice, opinion or testimony concerning claims under investigation orin litigation; costs for legal transcripts or testimony taken at coroner'sinquests, criminal or civil proceedings; costs for copies of any publicrecords; costs of depositions and court-reported or -recorded statements."Allocated loss adjustment expenses" shall not include the salaries ofofficials, administrators or other employees or normal overhead charges suchas rent, postage, telephone, lighting, cleaning, heating or similar expenses;
(2) "Ancillary state", any state other than a domiciliary state;
(3) "Creditor", a person having any claim, whether matured or unmatured,liquidated or unliquidated, secured or unsecured, absolute, fixed orcontingent;
(4) "Delinquency proceeding", any proceeding instituted against aninsurer for the purpose of liquidating, rehabilitating, reorganizing orconserving such insurer, and any summary proceeding under sections 375.1160,375.1162 and 375.1164;
(5) "Director", the director of the department of insurance, financialinstitutions and professional registration;
(6) "Doing business" includes any of the following acts, whethereffected by mail or otherwise:
(a) The issuance or delivery of contracts of insurance to personsresident in this state;
(b) The solicitation of applications for such contracts, or othernegotiations preliminary to the execution of such contracts;
(c) The collection of premiums, membership fees, assessments, or otherconsideration for such contracts;
(d) The transaction of matters subsequent to execution of such contractsand arising out of them; or
(e) Operating under a license or certificate of authority, as aninsurer, issued by the department of insurance, financial institutions andprofessional registration;
(7) "Domiciliary state", the state in which an insurer is incorporatedor organized or, in the case of an alien insurer, its state of entry;
(8) "Fair consideration" is given for property or obligation:
(a) When in exchange for such property or obligation, as a fairequivalent thereof, and in good faith, property is conveyed or services arerendered or an obligation is incurred or an antecedent debt is satisfied; or
(b) When such property or obligation is received in good faith to securea present advance or antecedent debt in an amount not disproportionately smallas compared to the value of the property or obligation obtained;
(9) "Foreign country", any jurisdiction not in the United States;
(10) "Formal delinquency proceeding", any liquidation or rehabilitationproceeding;
(11) "General assets", all property, real, personal, or otherwise, notspecifically mortgaged, pledged, deposited or otherwise encumbered for thesecurity or benefit of specified persons or classes of persons. As tospecifically encumbered property, "general assets" includes all such propertyor its proceeds in excess of the amount necessary to discharge the sum or sumssecured thereby. Assets held in trust and on deposit for the security orbenefit of all policyholders or all policyholders and creditors, in more thana single state, shall be treated as general assets;
(12) "Guaranty association", the Missouri property and casualtyinsurance guaranty association created by sections 375.771 to 375.779, asamended, the Missouri life and health insurance guaranty association createdby sections 376.715 to 376.758, RSMo, as amended, and any other similar entitynow or hereafter created by the laws of this state for the payment of claimsof insolvent insurers. "Foreign guaranty association" means any similarentities now in existence or hereafter created by the laws of any other state;
(13) "Insolvency" or "insolvent" means:
(a) For an insurer issuing only assessable fire insurance policies:
a. The inability to pay an obligation within thirty days after itbecomes payable; or
b. If an assessment be made within thirty days after such date, theinability to pay such obligation thirty days following the date specified inthe first assessment notice issued after the date of loss;
(b) For any other insurer, that it is unable to pay its obligations whenthey are due, or when its admitted assets do not exceed its liabilities plusthe greater of:
a. Any capital and surplus required by law for its organization; or
b. The total par or stated value of its authorized and issued capitalstock;
(c) As to any insurer licensed to do business in this state as of August28, 1991, which does not meet the standards established under paragraph (b) ofthis subdivision, the term "insolvency" or "insolvent" shall mean, for aperiod not to exceed three years from August 28, 1991, that it is unable topay its obligations when they are due or that its admitted assets do notexceed its liabilities plus any required capital contribution ordered by thedirector under any other provisions of law;
(d) For purposes of this subdivision "liabilities" shall include but notbe limited to reserves required by statute or by the department of insurance,financial institutions and professional registration regulations or specificrequirements imposed by the director upon a subject company at the time ofadmission or subsequent thereto;
(e) For purposes of this subdivision, an obligation is payable withinninety days of the resolution of any dispute regarding the obligation;
(14) "Insurer", any person who has done, purports to do, is doing or islicensed to do insurance business as described in section 375.1150, and is orhas been subject to the authority of, or to liquidation, rehabilitation,reorganization, supervision, or conservation by, any insurance department ofany state. For purposes of sections 375.1150 to 375.1246, any other personsincluded under section 375.1150 shall be deemed to be insurers;
(15) "Preferred claim", any claim with respect to which the terms ofsections 375.1150 to 375.1246 accord priority of payment from the generalassets of the insurer;
(16) "Receiver", a receiver, liquidator, administrative supervisor,rehabilitator or conservator, as the context requires;
(17) "Reciprocal state", any state other than this state in which insubstance and effect, provisions substantially similar to subsection 1 ofsection 375.1176 and sections 375.1235, 375.1236, 375.1240, 375.1242 and375.1244 have been enacted and are in force, and in which laws are in forcerequiring that the director of the state department of insurance, financialinstitutions and professional registration or equivalent official be thereceiver of a delinquent insurer, and in which some provision exists for theavoidance of fraudulent conveyances and preferential transfers;
(18) "Secured claim", any claim secured by mortgage, trust deed, pledge,deposit as security, escrow, or otherwise, including a pledge of assetsallocated to a separate account established pursuant to section 376.309, RSMo;but not including special deposit claims or claims against general assets.The term also includes claims which have become liens upon specific depositclaims or claims against general assets. The term also includes claims whichhave become liens upon specific assets by reason of judicial process;
(19) "Special deposit claim", any claim secured by a deposit madepursuant to statute for the security or benefit of a limited class or classesof persons, but not including any claim secured by general assets;
(20) "State", any state, district, or territory of the United States andthe Panama Canal Zone;
(21) "Transfer" shall include the sale and every other and differentmode, direct or indirect, of disposing of or of parting with property or withan interest therein, or with the possession thereof, or of fixing a lien uponproperty or upon an interest therein, absolutely or conditionally,voluntarily, by or without judicial proceedings. The retention of a securitytitle to property delivered to a debtor shall be deemed a transfer suffered bythe debtor.
