537.645. Director may take charge of entity, when. — If at any time any association fails or refuses to pay any claim finally adjudged to be due pursuant to the provisions of its articles of association and bylaws, or if the director of the department of commerce and insurance determines that the association is unable to satisfy its contractual obligations, he shall immediately take charge of the association, its assets and affairs, and wind up same as now provided by law in the case of life insurance companies.
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(L. 1978 H.B. 1650 § 8)
---- end of effective 28 Aug 1978 ----
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