Missouri Laws 374.217 – Covenant not to sue officers of insurer, prohibited — no force and effect
1. The director or any other employee of the department of commerce and insurance shall not enter into any covenant not to sue or any agreement to defer, refrain or desist from instituting or asserting against any officer or director of any insurer or any other person or entity in the business of insurance and regulated by the department any claim, demand, action or suit, either administrative or judicial, for injuries, damages or penalties to the state or any person or property.
2. Any covenant or agreement entered into in derogation of subsection 1 of this section, shall be deemed to be in violation of the public policy of this state that the general assembly shall by law provide adequate regulation of insurers in order to protect citizens of this state; and that the department shall carry out and enforce such regulation. The courts of this state shall not enforce or give effect to any such covenant or agreement.
Terms Used In Missouri Laws 374.217
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Department: the department of commerce and insurance. See Missouri Laws 374.005
- Director: the director of the department of commerce and insurance. See Missouri Laws 374.005
- order: as used in this chapter shall include a formal administrative direction or command of the director issued under this section or in any contested case subject to the provisions of section 536. See Missouri Laws 374.046
- person: as used in this chapter shall include any individual, partnership, corporation, association or trust, or any other legal entity. See Missouri Laws 374.046
- Property: includes real and personal property. See Missouri Laws 1.020
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020