Section 379.1530 – Premiums, received by insurer, when — proof of purchase, insurer may require.
Effective – 01 Jan 2012 379.1530. Premiums, received by insurer, when — proof of purchase, insurer may require. — Premiums received by a vendor or supervising business entity shall be deemed received by the insurer. Insurers may require consumers to provide proof of purchase. ——– (L. 2011 S.B. 132) Effective 1-01-12
Section 379.1535 – Violations, director’s authority.
Effective – 01 Jan 2012 379.1535. Violations, director’s authority. — If the director determines that a person has engaged, is engaging in, or has taken a substantial step toward engaging in an act, practice, or course of business constituting a violation of sections 379.1500 to 379.1550 or rule adopted or order issued thereunder, or that […]
Section 379.1540 – Supervising business entity, sanctioning of license, when.
Effective – 01 Jan 2012 379.1540. Supervising business entity, sanctioning of license, when. — The license of a supervising business entity may be suspended, revoked, renewal refused, or an application refused if the director finds that a violation by a portable electronics insurance vendor was known or should have been known by the supervising business […]
Section 379.1545 – Insurers, permissible acts.
Effective – 28 Aug 2018, 2 histories 379.1545. Insurers, permissible acts. — Notwithstanding any other provision of law: (1) An insurer may terminate or otherwise change the terms and conditions of a policy of portable electronics insurance only upon providing the policyholder and enrolled customers with at least thirty days’ notice; (2) If the insurer […]
Section 379.1500 – Definitions.
Effective – 01 Jan 2012 379.1500. Definitions. — As used in sections 379.1500 to 379.1550, the following terms shall mean: (1) “Director”, the director of the department of commerce and insurance; (2) “Insurance company” or “insurer”, any person, reciprocal exchange, interinsurer, or any other legal entity licensed and authorized by the director to write inland […]
Section 379.1505 – Vendor license required — application, fee — termination date.
Effective – 01 Jan 2012 379.1505. Vendor license required — application, fee — termination date. — 1. No vendor shall sell or solicit portable electronics insurance coverage in this state unless such vendor has obtained a portable electronics insurance license. 2. A vendor applying for a portable electronics insurance license shall make application to the […]
Section 379.1394 – Dividend-payments, limitations.
Effective – 28 Aug 2007 379.1394. Dividend-payments, limitations. — 1. A SPLRC may not declare or pay dividends in any form to its owners other than in accordance with the transaction agreements. 2. Dividends may not decrease the capital of the SPLRC below the minimum initial capital requirement. 3. After giving effect to the dividends […]
Section 379.1397 – Changes in plan of operation, directors approval required.
Effective – 28 Aug 2007 379.1397. Changes in plan of operation, directors approval required. — Any material changes to a SPLRC’s plan of operation shall require the prior written approval of the director. However, if initially approved in the plan of operation, the subsequent issuance of securities, additional financing, substitution of a party to a […]
Section 379.1400 – Affiliated agreements to be filed with director.
Effective – 28 Aug 2007 379.1400. Affiliated agreements to be filed with director. — Copies of all completed affiliated agreements to which the SPLRC is a party, including but not limited to the SPLRC contract or contracts and any ceded reinsurance agreements to which the SPLRC is a party must be filed with the director […]
Section 379.1403 – Audited financial report required, requirements.
Effective – 28 Aug 2007 379.1403. Audited financial report required, requirements. — 1. No later than five months after the fiscal year end of the SPLRC, the SPLRC shall file with the director an audited financial report by an independent certified public accountant of the financial statements of the SPLRC and any trust accounts established […]