Section 385.450

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 385

Effective - 28 Aug 2021   

  385.450.  Motor clubs — definitions — fees not subject to premium tax — inapplicability of certain insurance laws. — 1.  As used in this section, the following terms shall mean:

  (1)  "Motor club", a legal entity that, in consideration of dues, assessments, or periodic payments of moneys, promises to provide motor club services to its members or subscribers;

  (2)  "Motor club contract", an agreement whereby a motor club promises to render, furnish, or procure motor club services to or for its members or subscribers;

  (3)  "Motor club services", services that assist a member or subscriber of a motor club in matters relating to motor travel or the operation, use, or maintenance of a motor vehicle by supplying services that may include, but are not limited to, towing service, emergency road service, bail and guaranteed arrest bond certificate service, discount service, theft service, map service, touring service, legal fee reimbursement service in the defense of traffic offenses, and participation in an accident and sickness or accidental death insurance benefit program issued by an insurance company authorized to do business in this state.

  2.  Fees collected from the sale of motor club contracts shall not be subject to taxation of premiums under chapter 148.

  3.  Motor clubs complying with the provisions of this section shall not be required to comply with the provisions of chapter 374 or 375, or any other provisions governing insurance companies, except as specifically provided.

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(L. 2021 S.B. 6)