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 […]
Section 379.1376 – Contract requirements.
Effective – 28 Aug 2007 379.1376. Contract requirements. — A SPLRC may enter into a SPLRC contract with a ceding company, provided: (1) The SPLRC has been granted a license to transact business as an SPLRC under sections 379.1353 to 379.1421; and (2) The SPLRC provides the director with evidence of an approval or nondisapproval […]
Section 379.1379 – Swap agreements permitted.
Effective – 28 Aug 2007 379.1379. Swap agreements permitted. — The SPLRC may enter into swap agreements for any purpose for which a Missouri domestic life insurer could enter into such a transaction under section 375.345 or when the underlying interests are permitted investments if held directly by the SPLRC. ——– (L. 2007 S.B. 215)
Section 379.1342 – Trust fund required for branch captive insurance company.
Effective – 28 Aug 2007 379.1342. Trust fund required for branch captive insurance company. — In the case of a branch captive insurance company, as security for the payment of liabilities attributable to the branch operations, the director shall require that a trust fund, funded by an irrevocable letter of credit or other acceptable asset, […]
Section 379.1344 – Certificate for branch captive insurance companies.
Effective – 28 Aug 2007 379.1344. Certificate for branch captive insurance companies. — In the case of a captive insurance company licensed as a branch captive, the alien captive insurance company shall petition the director to issue a certificate setting forth the director’s finding that, after considering the character, reputation, financial responsibility, insurance experience, and […]
Section 379.1346 – Reports and statements of branch captive insurance companies to be filed with director.
Effective – 28 Aug 2007 379.1346. Reports and statements of branch captive insurance companies to be filed with director. — Prior to March first of each year, or with the approval of the director within sixty days after its fiscal year end, a branch captive insurance company shall file with the director a copy of […]
Section 379.1348 – Examination of branch captive insurance companies, limitations.
Effective – 28 Aug 2007 379.1348. Examination of branch captive insurance companies, limitations. — 1. The examination of a branch captive insurance company under section 379.1314 shall be of branch business and branch operations only, so long as the branch captive insurance company provides annually to the director a certificate of compliance, or its equivalent, […]