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 379.1382 – Issuance of securities — approved activities by director.
Effective – 28 Aug 2007 379.1382. Issuance of securities — approved activities by director. — 1. A SPLRC may issue securities, subject to and in accordance with applicable law, its approved plan of operation and its organizational documents. A SPLRC may enter into and perform all its obligations under any required contract to facilitate the […]
Section 379.1385 – Management of assets.
Effective – 28 Aug 2007 379.1385. Management of assets. — A SPLRC’s assets must be managed in accordance with an investment management agreement filed with and approved by order of the director. ——– (L. 2007 S.B. 215)
Section 379.1388 – Recognition of admitted assets — value of assets.
Effective – 28 Aug 2009, 2 histories 379.1388. Recognition of admitted assets — value of assets. — 1. A SPLRC may recognize as an admitted asset on its financial statements filed with the director: (1) Permitted investments; (2) Letters of credit; (3) Financial guarantee policies issued for the sole benefit of the ceding company by […]
Section 379.1391 – Prohibited acts.
Effective – 28 Aug 2007 379.1391. Prohibited acts. — A SPLRC shall not: (1) Enter into a SPLRC contract with a person that is not licensed or otherwise authorized to transact the business of insurance or reinsurance in at least its state or country of domicile; (2) Lend or otherwise invest or place in custody, […]
Section 379.1353 – Definitions.
Effective – 28 Aug 2007 379.1353. Definitions. — As used in sections 379.1353 to 379.1421, the following terms shall mean: (1) “Affiliate”, a company that controls, is controlled by or under common control with the special purpose life reinsurance captive “SPLRC” as defined in this section; (2) “Affiliated agreements”, written agreements, including an SPLRC contract, […]
Section 379.1356 – Inapplicability of insurance laws.
Effective – 28 Aug 2007 379.1356. Inapplicability of insurance laws. — No provision of the Missouri insurance laws, other than those specifically referenced in sections 379.1353 to 379.1421 apply to a SPLRC, its operations, assets, investments and SPLRC contracts. In the event of a conflict between a provision of the Missouri insurance laws and sections […]
Section 379.1359 – License application — requirements for transaction of business — licensure requirements — issuance of license, fee.
Effective – 28 Aug 2007 379.1359. License application — requirements for transaction of business — licensure requirements — issuance of license, fee. — 1. A SPLRC, when permitted by its organizational documents, may apply to the director for a license to conduct reinsurance in this state as authorized by sections 379.1353 to 379.1421. 2. A […]
Section 379.1361 – Plan of operation to be filed, contents.
Effective – 28 Aug 2007 379.1361. Plan of operation to be filed, contents. — A SPLRC must file, as part of its application, a plan of operation to consist of a description of the contemplated financing transaction or transactions and a detailed description of transaction documents to which the SPLRC will be a party, including, […]