Revisor Home

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 382

previous next Effective - 28 Aug 2015bottom

  382.190.  Transactions with affiliates, how conducted. — Material transactions by registered insurers with their affiliates are subject to the following standards:

  (1)  The terms shall be fair and reasonable;

  (2)  Charges or fees for services shall be reasonable;

  (3)  Expenses incurred and payment received shall be allocated to the insurer in conformity with customary insurance accounting practices consistently applied;

  (4)  The books, accounts and records of each party shall be maintained so as to clearly and accurately disclose the precise nature and details of the transactions including such accounting information as is necessary to support the reasonableness of the charges or fees to the respective parties;

  (5)  The insurer's surplus as regards policyholders following any dividends or distributions to shareholder affiliates shall be reasonable in relation to the insurer's outstanding liabilities and adequate to its financial needs; and

  (6)  Agreements for cost-sharing services and management shall include such provisions as required by the director by rule.

­­--------

(L. 1971 S.B. 101 § 22, A.L. 1992 H.B. 1574, A.L. 2015 H.B. 50)


---- end of effective   28 Aug 2015 ----

use this link to bookmark section  382.190


In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions

Site changes Contact
Other Links
Oversight Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House

@02:16:48.9 28