Current with changes from the 2024 Legislative Session
Section 374.220 - Expenses, how paid1. The expenses of proceedings against insurance companies, and examinations of the assets or liabilities and valuations of policies of insurance companies doing business in this state, shall be assessed by the director upon the company proceeded against or examined, or whose policies have been valued.2. If the company has been or shall be adjudged insolvent, or shall neglect, fail or refuse to pay the expenses, the director may approve the payment of the expenses, in whole or in part, which shall be paid in like manner as other expenses of the department; and the amount so paid, together with cost, charges and fees for collecting the same, shall be a first lien upon all the assets and property of such company, and may be recovered by the director of revenue in any court of competent jurisdiction; or if said company be in liquidation, or process of being wound up, the cost and expenses of settling its affairs shall be allowed and taxed as cost against said company, and shall be a first lien upon and payable out of its assets. The director of revenue shall deposit such sums in the state treasury to reimburse the insurance fund.3. Before any costs of any examination or valuation shall be paid, vouchers for the same shall be submitted to and approved by the commissioner of administration.4. When any examination or valuation is made by the director in person or by any salaried employee of the department, the cost of making the same shall be certified to the director of revenue for collection.Prior revisions: 1929 § 5685; 1919 § 6096; 1909 § 6890