375.033. Termination of contract, notice--agent not to do business.
Termination of contract, notice--agent not to do business.
375.033. 1. All contracts between an insurer and an independentinsurance producer in effect in the state of Missouri on or after September28, 1979, shall not be terminated or canceled by the insurer except by mutualagreement or unless ninety days' written notice in advance has been given tothe independent insurance producer and the director of the department ofinsurance, financial institutions and professional registration.
2. During the ninety days' notice period the independent insuranceproducer shall not write or bind any new business on behalf of the insurerwithout specific written approval.
(L. 1979 H.B. 506 § 2, A.L. 1986 S.B. 701, A.L. 1987 H.B. 384 Revision, A.L. 2001 S.B. 193)Effective 1-01-03