376.715. Citation of law, purpose.
Citation of law, purpose.
376.715. 1. Sections 376.715 to 376.758 shall be known andmay be cited as the "Missouri Life and Health Insurance GuarantyAssociation Act".
2. The purpose of sections 376.715 to 376.758 is toprotect, subject to certain limitations, the persons specifiedin subsection 1 of section 376.717 against failure in theperformance of contractual obligations, under life and healthinsurance policies and annuity contracts specified in subsection2 of section 376.717, because of the impairment or insolvency ofthe member insurer that issued the policies or contracts.
3. To provide this protection, an association of insurersis created to pay benefits and to continue coverages as limitedherein, and members of the association are subject to assessmentto provide funds to carry out the purpose of sections 376.715 to376.758.
(L. 1988 S.B. 430 §§ 1, 2)