§ 380.611, RSMo - Sale of corporate charter, penalty-exclusive right to control a company, approval by director, requirements
|Cite as:||§ 380.611, RSMo|
|Currency:||Current with changes from the 2020 Legislative Session enacted through 7/15/2020|
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 ope...
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