Missouri Laws 287.885 – Limitations on actions
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Terms Used In Missouri Laws 287.885
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Notwithstanding any other provision of this chapter, if a covered claim, as defined herein, for which settlement is not effected and for which suit is not instituted against the insured or the corporation within the time period provided in sections 287.430 and 287.440, suit on such claim shall be barred.