MO HB2222

Repeals sections 375.1152 and 375.1155 and enacts three new sections (375.1152, 375.1155, and 375.1191) relating to the Insurers Supervision, Rehabilitation and Liquidation Act.

Adds comprehensive definitions including "netting agreement" and "qualified financial contract" (commodity contracts, forward contracts, repurchase agreements, securities contracts, swap agreements) to the Act's terminology.

Prohibits stays or restrictions on counterparties' rights to terminate, liquidate, set off, or accelerate obligations under netting agreements or qualified financial contracts due to insurer insolvency or formal delinquency proceedings.

Allows receivers to transfer netting agreements and qualified financial contracts either entirely to one party or not at all (on an all-or-nothing basis), with required notice to counterparties by noon the next business day.

Protects pre-petition transfers under netting agreements and qualified financial contracts from being avoided by receivers, except in cases of actual fraud, and establishes that damages claims from disaffirmance are limited to actual direct compensatory damages measured as of the termination date.