Section 384.011 – Title of law.
Effective – 01 Jul 1987 384.011. Title of law. — Sections 384.011 to 384.071 shall be known and may be cited as “The Missouri Surplus Lines Law”. ——– (L. 1987 H.B. 700 § 1 subsec. 1) Effective 7-01-87
Section 384.015 – Definitions.
Effective – 28 Aug 2014, 2 histories 384.015. Definitions. — As used in this chapter, the following terms shall mean: (1) “Admitted insurer”, an insurer licensed to do an insurance business in this state; (2) “Capital”, funds paid in for stock or other evidence of ownership; (3) “Director”, the director of the department of commerce […]
Section 384.017 – Nonadmitted insurers, purchases from allowed, when.
Effective – 28 Aug 2014, 2 histories 384.017. Nonadmitted insurers, purchases from allowed, when. — Surplus lines insurance may be placed by a surplus lines licensee if: (1) Each insurer is an eligible surplus lines insurer; (2) The full amount or kind of insurance is not obtainable from admitted insurers who are actually transacting in […]
Section 384.018 – Nonadmitted insurer deemed domestic surplus lines insurer, when — domestic insurer deemed eligible surplus lines insurer, when — policies subject to taxation, when — exemption from certain statutory requirements, when — rulemaking authority.
Effective – 28 Aug 2014 384.018. Nonadmitted insurer deemed domestic surplus lines insurer, when — domestic insurer deemed eligible surplus lines insurer, when — policies subject to taxation, when — exemption from certain statutory requirements, when — rulemaking authority. — 1. A nonadmitted insurer that is domiciled in this state will be deemed a domestic […]
Section 384.021 – Nonadmitted insurers, limitation on furnishing coverage — exempt commercial purchaser, licensee exemptions.
Effective – 28 Aug 2014, 2 histories 384.021. Nonadmitted insurers, limitation on furnishing coverage — exempt commercial purchaser, licensee exemptions. — 1. A surplus lines licensee shall not place coverage with a nonadmitted insurer, unless, at the time of placement, the surplus lines licensee has determined that the nonadmitted insurer is authorized to write the […]
Section 384.023 – Unlisted nonadmitted insurers may be used for coverage, when — requirements.
Effective – 28 Aug 2014 384.023. Unlisted nonadmitted insurers may be used for coverage, when — requirements. — Risk eligible for export may be placed with any other nonadmitted insurer which does not appear on the list of eligible surplus lines insurers published by the director pursuant to subdivision (2) of subsection 1 of section […]
Section 384.025 – Ineligibility of nonadmitted insurer, grounds, when — notice to licensees.
Effective – 28 Aug 2009 384.025. Ineligibility of nonadmitted insurer, grounds, when — notice to licensees. — 1. If at any time the director has reason to believe that an eligible surplus lines insurer: (1) Is in unsound financial condition; (2) Is no longer eligible under section 384.021; (3) Has willfully violated the laws of […]
Section 384.034 – Advisory organization may be formed, purposes — information to be filed — examination when, costs — hearing on report, when — violations, penalty.
Effective – 01 Jul 1987 384.034. Advisory organization may be formed, purposes — information to be filed — examination when, costs — hearing on report, when — violations, penalty. — 1. An advisory surplus lines organization of surplus lines licensees may be formed to: (1) Facilitate and encourage compliance by its members with the laws […]
Section 384.036 – Policy or certificate to be delivered to insured or broker — policies to indicate current status and any changes — violation, penalties.
Effective – 28 Aug 1989 384.036. Policy or certificate to be delivered to insured or broker — policies to indicate current status and any changes — violation, penalties. — 1. Upon placing surplus lines insurance, the surplus lines licensee shall promptly deliver to the insured or the producing broker the policy, or if such policy […]
Section 384.038 – Enforceability of contract.
Effective – 28 Aug 1989 384.038. Enforceability of contract. — Insurance contracts procured under sections 384.011 to 384.071 shall be valid and enforceable as to all parties. ——– (L. 1987 H.B. 700 §§ 10, 11, A.L. 1989 S.B. 250)
Section 384.041 – Premium payment to licensee deemed payment to insurer.
Effective – 01 Jul 1987 384.041. Premium payment to licensee deemed payment to insurer. — A payment of premium to a surplus lines licensee acting for a person other than himself in negotiating, continuing, or reviewing any policy of insurance under the provisions of sections 384.011 to 384.071 shall be deemed to be payment to […]
Section 384.043 – Licensing requirements for insurance producers, fee — examination, exception — renewal, when, violation, effect — national database, participation in — rulemaking authority.
Effective – 28 Aug 2021, 3 histories 384.043. Licensing requirements for insurance producers, fee — examination, exception — renewal, when, violation, effect — national database, participation in — rulemaking authority. — 1. No insurance producer shall procure any contract of surplus lines insurance with any nonadmitted insurer, unless he possesses a current surplus lines insurance […]
Section 384.045 – Licensees may originate or accept insurance from other licensees or brokers, compensation.
Effective – 01 Jul 1987 384.045. Licensees may originate or accept insurance from other licensees or brokers, compensation. — A surplus lines licensee may originate surplus lines insurance or accept such insurance from any other agent or broker duly licensed as to the kinds of insurance involved, and the surplus lines licensee may compensate such […]
Section 384.048 – Records required to be kept by licensees — to be open to director — retention period.
Effective – 28 Aug 1989 384.048. Records required to be kept by licensees — to be open to director — retention period. — Each surplus lines licensee shall keep in his office in this state a full and true record of each surplus lines insurance contract placed by or through him, including a copy of […]
Section 384.051 – Insured to file report on surplus lines insurance not obtained through a broker — contents, when due — tax imposed, procedure to collect tax.
Effective – 07 Jul 2011, 2 histories 384.051. Insured to file report on surplus lines insurance not obtained through a broker — contents, when due — tax imposed, procedure to collect tax. — 1. Every insured whose home state is this state who procures or causes to be procured or continues or renews insurance in […]
Section 384.054 – Delinquent tax, penalty, interest.
Effective – 28 Aug 2007 384.054. Delinquent tax, penalty, interest. — Any tax imposed by sections 384.011 to 384.071 which is delinquent in payment shall be subject to a penalty of one percent of the tax per diem up to ten percent of the tax. Any delinquent tax shall bear interest at the rate determined […]
Section 384.057 – Licensee to file annual statement, contents — report to director, contents.
Effective – 07 Jul 2011, 2 histories 384.057. Licensee to file annual statement, contents — report to director, contents. — 1. Before March second of each year, each surplus lines broker shall report under oath to the director on forms prescribed by him or her a statement showing, with respect to the year ending the […]
Section 384.059 – Premium tax applicable to surplus lines, rate, payment — broker may charge tax to insured.
Effective – 28 Aug 1989 384.059. Premium tax applicable to surplus lines, rate, payment — broker may charge tax to insured. — 1. There is hereby imposed on surplus brokers for the privilege of doing the business of a surplus lines broker in this state a tax of five percent of the net premium received […]
Section 384.061 – Premium tax to be levied only on entire gross premium for nonadmitted or surplus lines insurance policies.
Effective – 07 Jul 2011 384.061. Premium tax to be levied only on entire gross premium for nonadmitted or surplus lines insurance policies. — 1. Notwithstanding any other provision of this chapter or regulation implementing a provision of this chapter, the five percent tax on net premiums imposed by sections 384.051 and 384.059 shall be […]
Section 384.062 – Premium taxes collected by licensee but unpaid to department, actions authorized — taxes payable to department.
Effective – 28 Aug 2009 384.062. Premium taxes collected by licensee but unpaid to department, actions authorized — taxes payable to department. — 1. If any tax, penalty, or interest payable by a surplus lines licensee under the provisions of sections 384.011 to 384.071 is not paid within the time prescribed, the same shall be […]