Provisions apply prospectively, exceptions--restrictions on insurerin delinquency proceeding.
375.1158. 1. Unless otherwise provided, the portions of sections375.1150 to 375.1246 which substantively affect the rights of any person shallbe only applicable prospectively. The provisions of sections 375.650 to375.700, sections 375.740 and 375.750, and sections 375.950 to 375.990 shallbe effective and apply only to proceedings instituted pursuant to thosesections prior to August 28, 1991. The provisions of sections 375.1150 to375.1246 which are procedural in nature and which do not conflict with anyprovision of sections 375.570 to 375.750 and sections 375.950 to 375.990applicable to any proceeding instituted prior to August 28, 1991, shall beapplicable to proceedings instituted prior to August 28, 1991; provided thatthe provisions of this subsection shall not affect any final order entered bya court of competent jurisdiction prior to August 28, 1991.
2. No insurer that is subject to any delinquency proceedings, whetherformal or informal, administrative or judicial, shall:
(1) Be released from such proceeding, unless such proceeding isconverted into a judicial rehabilitation or liquidation proceeding;
(2) Be permitted to solicit or accept new business or request or acceptthe restoration of any suspended or revoked license or certificate ofauthority;
(3) Be returned to the control of its shareholders or privatemanagement; or
(4) Have any of its assets returned to the control of its shareholdersor private management.
Until all payments of or on account of the insurer's contractual obligationsby all guaranty associations and all expenses on account of such delinquencyproceedings, along with all expenses thereof and interest on all such paymentsand expenses, shall have been repaid to the department of insurance, financialinstitutions and professional registration and guaranty associations or a planof repayment by the insurer shall have been approved by the director. Moneyscollected by the director pursuant to this section shall be transferred to thestate treasurer and deposited to the general revenue fund.
3. In any delinquency proceeding under sections 375.1150 to 375.1246,certified copies of the statement made by the company proceeded against, or ofreports of examinations of the company made by the director or personsappointed by him, shall be received, if offered by the director, as primafacie evidence of the facts therein contained pertaining to the condition andaffairs of the insurer.
Provisions apply prospectively, exceptions--restrictions on insurerin delinquency proceeding.
375.1158. 1. Unless otherwise provided, the portions of sections375.1150 to 375.1246 which substantively affect the rights of any person shallbe only applicable prospectively. The provisions of sections 375.650 to375.700, sections 375.740 and 375.750, and sections 375.950 to 375.990 shallbe effective and apply only to proceedings instituted pursuant to thosesections prior to August 28, 1991. The provisions of sections 375.1150 to375.1246 which are procedural in nature and which do not conflict with anyprovision of sections 375.570 to 375.750 and sections 375.950 to 375.990applicable to any proceeding instituted prior to August 28, 1991, shall beapplicable to proceedings instituted prior to August 28, 1991; provided thatthe provisions of this subsection shall not affect any final order entered bya court of competent jurisdiction prior to August 28, 1991.
2. No insurer that is subject to any delinquency proceedings, whetherformal or informal, administrative or judicial, shall:
(1) Be released from such proceeding, unless such proceeding isconverted into a judicial rehabilitation or liquidation proceeding;
(2) Be permitted to solicit or accept new business or request or acceptthe restoration of any suspended or revoked license or certificate ofauthority;
(3) Be returned to the control of its shareholders or privatemanagement; or
(4) Have any of its assets returned to the control of its shareholdersor private management.
Until all payments of or on account of the insurer's contractual obligationsby all guaranty associations and all expenses on account of such delinquencyproceedings, along with all expenses thereof and interest on all such paymentsand expenses, shall have been repaid to the department of insurance, financialinstitutions and professional registration and guaranty associations or a planof repayment by the insurer shall have been approved by the director. Moneyscollected by the director pursuant to this section shall be transferred to thestate treasurer and deposited to the general revenue fund.
3. In any delinquency proceeding under sections 375.1150 to 375.1246,certified copies of the statement made by the company proceeded against, or ofreports of examinations of the company made by the director or personsappointed by him, shall be received, if offered by the director, as primafacie evidence of the facts therein contained pertaining to the condition andaffairs of the insurer.
Provisions apply prospectively, exceptions--restrictions on insurerin delinquency proceeding.
375.1158. 1. Unless otherwise provided, the portions of sections375.1150 to 375.1246 which substantively affect the rights of any person shallbe only applicable prospectively. The provisions of sections 375.650 to375.700, sections 375.740 and 375.750, and sections 375.950 to 375.990 shallbe effective and apply only to proceedings instituted pursuant to thosesections prior to August 28, 1991. The provisions of sections 375.1150 to375.1246 which are procedural in nature and which do not conflict with anyprovision of sections 375.570 to 375.750 and sections 375.950 to 375.990applicable to any proceeding instituted prior to August 28, 1991, shall beapplicable to proceedings instituted prior to August 28, 1991; provided thatthe provisions of this subsection shall not affect any final order entered bya court of competent jurisdiction prior to August 28, 1991.
2. No insurer that is subject to any delinquency proceedings, whetherformal or informal, administrative or judicial, shall:
(1) Be released from such proceeding, unless such proceeding isconverted into a judicial rehabilitation or liquidation proceeding;
(2) Be permitted to solicit or accept new business or request or acceptthe restoration of any suspended or revoked license or certificate ofauthority;
(3) Be returned to the control of its shareholders or privatemanagement; or
(4) Have any of its assets returned to the control of its shareholdersor private management.
Until all payments of or on account of the insurer's contractual obligationsby all guaranty associations and all expenses on account of such delinquencyproceedings, along with all expenses thereof and interest on all such paymentsand expenses, shall have been repaid to the department of insurance, financialinstitutions and professional registration and guaranty associations or a planof repayment by the insurer shall have been approved by the director. Moneyscollected by the director pursuant to this section shall be transferred to thestate treasurer and deposited to the general revenue fund.
3. In any delinquency proceeding under sections 375.1150 to 375.1246,certified copies of the statement made by the company proceeded against, or ofreports of examinations of the company made by the director or personsappointed by him, shall be received, if offered by the director, as primafacie evidence of the facts therein contained pertaining to the condition andaffairs of the insurer.
