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 379.1409 – Record-keeping requirements.
Effective – 28 Aug 2007 379.1409. Record-keeping requirements. — The SPLRC shall maintain its books and records in the state and make the same available at any time for examination by the director. Notwithstanding the preceding, original books and records may be kept outside of the state, if a plan is adopted by the SPLRC […]
Section 379.1412 – Premium tax required, amount, procedure.
Effective – 28 Aug 2009, 2 histories 379.1412. Premium tax required, amount, procedure. — 1. Each SPLRC shall pay to the director of revenue on or before May first of each year a premium tax at the rate of two hundred fourteen thousandths of one percent on the first twenty million dollars of assumed reinsurance […]
Section 379.1415 – Confidentiality of records, exceptions.
Effective – 28 Aug 2007 379.1415. Confidentiality of records, exceptions. — Information filed with the director is confidential and may not be disclosed without the prior written consent of the SPLRC, except: (1) Information is discoverable in civil litigation provided: (a) The SPLRC is found by the court to be a necessary party; (b) The […]
Section 379.1418 – Grounds for liquidation — granting of relief, management of assets.
Effective – 28 Aug 2007 379.1418. Grounds for liquidation — granting of relief, management of assets. — 1. The director may apply by petition to the circuit court for an order authorizing the director to conserve, rehabilitate or liquidate a SPLRC domiciled in this state on one or more of the following grounds: (1) There […]
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 […]