1. Whenever it shall appear to the director that the records of any insurer after discharge of the liquidator are no longer useful, he may, after complying with sections 109.200 to 109.310, recommend to the court and the court shall direct what records should be retained for future reference and what should be destroyed, provided that the following records shall be retained for five years after the date of discharge:

(1) Financial records regarding administration of the estate;

Terms Used In Missouri Laws 375.1228

  • Director: the director of the department of commerce and insurance. See Missouri Laws 375.001
  • following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
  • Insurer: all insurance companies, reciprocals, or interinsurance exchanges transacting the business of insurance in this state. See Missouri Laws 375.001

(2) Records of claims and allowances or disallowances thereof.

2. Notwithstanding the provisions of section 375.1158, the provisions of this section shall apply to delinquency proceedings commenced before and after August 28, 1991.

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