Summary of the Introduced Bill

HB 459 -- Insurance Liquidation

Co-Sponsors:  Liese, Luetkemeyer

This bill extends to December 31, 2005, the sunset clause on a
provision regarding the liquidation of insurance companies.
That law expired on December 31, 2000.  The provision allows an
estimation of contingent liabilities to be used to fix
creditors' claims during the liquidation process.  The bill also
requires a reinsurer's payments to be made directly to the
liquidator, except where the contract specifically provides for
another payee or where another insurer assumes the ceding
insurer's policy obligations.

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Missouri House of Representatives
Last Updated September 13, 2001 at 2:02 pm