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Mo. Rev. Stat. § 375.535

Director to issue charges when he believes assumption of additional risks..

Known as the Insurance Producers Act

The act spans §§ 375–375 (383 sections).

Effective: 28 Aug 1967; (L. 1967 p. 516)

Whenever the director has reason to believe that any insurance company licensed to do business in this state is, because of the nature and extent of the risks assumed by the company, in such financial condition that the assumption of additional risks would be hazardous to creditors, policyholders, or the general public, he may issue and serve upon the company a statement of charges and notice of hearing thereon. If after a hearing the director finds that the company is in such financial condition that the assumption of additional risks would be hazardous to creditors, policyholders or the general public, he shall order the company to cease and desist from writing any new business until the company's financial condition is no longer hazardous thereto.

Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.