Section 379.1421 – Rulemaking authority.
Effective – 28 Aug 2007 379.1421. Rulemaking authority. — The director may promulgate all rules and regulations necessary to effectuate the purposes of sections 379.1353 to 379.1421. No regulations promulgated under this authority shall affect SPLRC contracts or other transactions approved prior to the effective date of such rules. Any rule or portion of a […]
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 […]
Section 379.1406 – Examination required, when, procedure.
Effective – 28 Aug 2007 379.1406. Examination required, when, procedure. — An SPLRC must be examined by the director at least once every five years and no more frequently than once every three years. In addition, the director may also examine an SPLRC in the event of an event of insolvency. The SPLRC shall pay […]
Section 379.1364 – License fee, amount.
Effective – 28 Aug 2007 379.1364. License fee, amount. — Each SPLRC shall pay to the director a license fee for the year of registration of seven thousand five hundred dollars for processing its license. The provisions of sections 374.160 to 374.162 and sections 374.202 to 374.207 shall apply to examinations, investigations, and processing conducted […]
Section 379.1367 – Approval of application, findings by director.
Effective – 28 Aug 2007 379.1367. Approval of application, findings by director. — 1. In order to approve an application and issue a license to a SPLRC under sections 379.1353 to 379.1421, the director must find that: (1) The proposed plan of operation provides a reasonable and expected successful operation; (2) The terms of the […]
Section 379.1370 – Corporate status of company.
Effective – 28 Aug 2007 379.1370. Corporate status of company. — A SPLRC may be established as either a stock corporation, a Missouri statutory close corporation, a limited liability company or other form of organization approved by the director. ——– (L. 2007 S.B. 215)
Section 379.1373 – Limitation on activities and name — number of incorporators required.
Effective – 28 Aug 2009, 2 histories 379.1373. Limitation on activities and name — number of incorporators required. — 1. Activities of a SPLRC must be limited to those necessary to accomplish its purpose as outlined in its plan of operation. 2. The name must not be deceptively similar to or likely to be confused […]