Missouri § 375.1174 - Director may petition for liquidation, grounds — termination of rehabilitation proceedings, when, effect.
Full text of Missouri Revised Statutes of Missouri § 375.1174 — Director may petition for liquidation, grounds — termination of rehabilitation proceedings, when, effect., with citation guidance and answers to common questions.
§ 375.1174. Director may petition for liquidation, grounds — termination of rehabilitation proceedings, when, effect.
1. Whenever the director believes further attempts to rehabilitate an insurer would substantially increase the risk of loss to creditors, policyholders or the public, or would be futile, the director may petition the court for an order of liquidation. A petition under this subsection shall have the same effect as a petition under section 375.1175. The court shall permit the directors of the insurer to take such actions as are reasonably necessary to defend against the petition and may order payment from the estate of the insurer of such reasonable costs and other expenses of defense as justice may require.
2. If the payment of policy obligations is suspended in substantial part for a period of six months at any time after the appointment of the rehabilitator and the rehabilitator has not filed an application for approval of a plan under subsection 4 of section 375.1168, the rehabilitator shall petition the court for an order of liquidation on grounds of insolvency.
3. The rehabilitator may at any time petition the court for an order terminating rehabilitation of an insurer. The court shall also permit the directors of the insurer to petition the court for an order terminating rehabilitation of the insurer and may order payment from the estate of the insurer of such costs and other expenses of such petition as justice may require. If the court finds that grounds for rehabilitation under section 375.1165 no longer exist, it shall order that the insurer be restored to possession of its property and the control of the business. The court may also make that finding and issue that order at any time upon its own motion.
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(L. 1991 H.B. 385, et al. § 64)
---- end of effective 28 Aug 1991 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 375.1174
What does Revised Statutes of Missouri § 375.1174 cover?
Section 375.1174 ("Director may petition for liquidation, grounds — termination of rehabilitation proceedings, when, effect.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 375.1174?
A common citation format is "Revised Statutes of Missouri § 375.1174" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 375.1174 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.