State Codes and Statutes
Statutes > Missouri > T24 > C378 > 378_631Foreign society, director may enjoin business, when.
378.631. 1. When the director upon investigation findsthat a foreign or alien society transacting or applying totransact business in this state:
(1) Has exceeded its powers;
(2) Has failed to comply with any of the provisions of thischapter;
(3) Is not fulfilling its contracts in good faith; or
(4) Is conducting its business fraudulently or in a mannerhazardous to its members or creditors or the public,
the director shall notify the society of such deficiency ordeficiencies and state in writing the reasons for his or herdissatisfaction. The director shall at once issue a writtennotice to the society requiring that the deficiency ordeficiencies which exist are corrected. After such notice thesociety shall have a thirty-day period in which to comply withthe director's request for correction, and if the society failsto comply, the director shall notify the society of such findingsof noncompliance and require the society to show cause on a datenamed why its license should not be suspended, revoked orrefused. If on such a date the society does not present good andsufficient reason why its authority to do business in this stateshould not be suspended, revoked or refused, the director maysuspend or refuse the license of the society to do business inthis state until satisfactory evidence is furnished to thedirector that such suspension or refusal should be withdrawn orthe director may revoke the authority of the society to dobusiness in this state.
2. Nothing contained in this section shall be taken orconstrued as preventing any such society from continuing in goodfaith all contracts made in this state during the time suchsociety was legally authorized to transact business herein.
(L. 1992 S.B. 831)Effective 1-1-93
