Effective – 28 Aug 1989 379.650. Exchange of reciprocal or interinsurance contracts authorized — classes of insurance allowed. — 1. Individuals, partnerships and corporations of this state, hereby designated subscribers, are hereby authorized to exchange either assessable or nonassessable reciprocal or interinsurance contracts with each other, or with individuals, partnerships and corporations of other states […]
Effective – 28 Aug 1967 379.660. Contracts to be executed through attorney in fact. — The contracts may be executed by an attorney in fact, herein designated attorney, duly authorized and acting for the subscribers, and the attorney may be a corporation. The office or offices of the attorney, herein defined as an exchange, may […]
Effective – 28 Aug 1967 379.670. Application for license, contents — requirements. — The subscribers so contracting among themselves shall, through their attorney, file with the director of the department of commerce and insurance of this state a declaration verified by the oath of the attorney setting forth: (1) The name or title of the […]
Effective – 28 Aug 1967 379.680. Service of process on director — method. — 1. Concurrently with the filing of the declaration provided for by the terms of section 379.670, the attorney shall file with the director of the department of commerce and insurance an instrument in writing, executed by him for the subscribers, conditioned […]
Effective – 28 Aug 1967 379.690. Statement of condition and affairs may be required by director — restriction on liability of members. — There shall be filed with the director of the department of commerce and insurance of this state, by the attorney, a statement under the oath of the attorney, showing in the case […]
Effective – 28 Aug 1967 379.700. Reserves required. — There shall be maintained at all times assets in cash or securities authorized by the laws of the state in which the principal office of the attorney is located for the investment of similar funds of insurance companies doing the same kind of business in* an […]
Effective – 28 Aug 1989 379.710. Surplus required — claim reserve fund — phase-in of requirements. — 1. In order to commence writing the business enumerated in only one subdivision of subsection 1 of section 379.650, a reciprocal or interinsurance exchange shall have as a surplus, in addition to other reserves required, a sum in […]
Effective – 28 Aug 1967 379.720. Deficiency how made up — net premium and deposit defined. — 1. If at any time the amounts on hand are less than the requirements of sections 379.700 and 379.710, the subscribers or their attorney for them shall make up the deficiency. 2. Where funds other than those which […]
Effective – 28 Aug 1967 379.730. Annual statement of financial condition required. — 1. The attorney shall make an annual report to the director of the department of commerce and insurance for the calendar year, showing that the financial condition of affairs at the office where the contracts are issued is in accordance with the […]
Effective – 28 Aug 1967 379.740. Corporations generally empowered to become subscribers. — Any corporation now or hereafter organized under the laws of this state shall, in addition to the rights, powers and franchises specified in its articles of incorporation, have full power and authority to exchange insurance contracts of the kind and character herein […]
Effective – 01 Jan 1971 379.750. Certificate of authority from director required — license may be revoked or suspended — renewal. — 1. Each attorney by whom or through whom are issued any policies of or contracts for indemnity of the character referred to in sections 379.650 to 379.790 shall procure from the director of […]
Effective – 28 Aug 2001 379.770. Mergers or consolidation of reciprocal exchanges or interinsurers. — Two or more domestic reciprocal exchanges or interinsurers may merge or consolidate on affirmative vote of not less than two-thirds of the subscribers of each exchange or interinsurer who vote on the merger or consolidation, pursuant to due notice and […]
Effective – 28 Aug 1975 379.780. Exemption from other insurance laws except retaliatory law, and certain enumerated sections. — 1. Except as provided in this section, no law of this state relating to insurance shall apply to the exchange of indemnity contracts. When any other law is applicable, it shall be construed in accordance with […]
Effective – 28 Aug 2007 379.790. Penalty for acting without legal authority. — 1. It is unlawful for any attorney to exchange any contracts of indemnity of the kind and character specified in sections 379.650 to 379.790, or directly or indirectly solicit or negotiate any applications for same without first complying with the foregoing provisions. […]
Effective – 28 Aug 1967 379.800. Sections 374.030 to 379.790 intended as a continuation of existing law. — All of the provisions of the law relating to insurance agents, agencies, brokers and companies, and to the administration and enforcement of the laws of the state relating to insurance by the department of commerce and insurance, […]
