1. It is unlawful for any person to sell the corporate charter of a Missouri mutual
insurance company operating under the provisions of sections 380.011 to 380.151 or operating under the provisions of sections 380.201 to 380.591. Any violation of this provision is a class A misdemeanor.
2. An agreement of contract under which any person, organization or corporation is
granted the exclusive or dominant right to manage or control a Missouri mutual insurance
company operating under the provisions of sections 380.011 to 380.151, or operating under the provisions of sections 380.201 to 380.591, shall be filed with and approved by the director of the department of commerce and
insurance. The director of the department of commerce and insurance shall approve such agreements
or contracts only if they are not detrimental to the policyholders of the company
or the public.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.