SCS HB 459 -- INSURANCE LIQUIDATION

This bill extends to December 31, 2005, the sunset clause on a
section of law regarding the liquidation of insurance companies.
Portions of this section expired on December 31, 2000.  The
section allows an estimation of contingent liabilities to be
used to fix creditors' claims during the liquidation process.
The section 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.

The bill contains an emergency clause.

Missouri House of Representatives
Last Updated November 26, 2001 at 11:44 am