379.450. Director to grant or deny license.
Director to grant or deny license.
379.450. 1. If the director of the department of insurance, financialinstitutions and professional registration finds that the applicant meets thelicensing requirements of sections 379.420 to 379.510 applicable to it and istrustworthy and competent to act as a rating organization and that itsconstitution, articles of agreement or association or certificate ofincorporation, and its bylaws, rules and regulations governing the conduct ofits business conform to the requirements of sections 379.420 to 379.510, heshall issue a license specifying the kinds of insurance or subdivisionsthereof for which the applicant is authorized to act as a rating organization.
2. Every such application shall be granted or denied in whole or in partby the director within sixty days of the date of its filing with him.
3. Licenses issued pursuant to this section shall remain in effect untilrevoked as provided in sections 379.420 to 379.510.
(L. 1947 V. II p. 254 § 3)