Section 375.1060

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 375

Effective - 28 Aug 1993   

  375.1060.  Certification filed with annual statement, when — director shall promulgate rules, purpose. — 1.  Each health services corporation organized pursuant to sections 354.010 to 354.380 shall file with its annual statement required by section 354.105 and section 375.041 a certification by a member in good standing of the American Academy of Actuaries.

  2.  Each life insurance company organized under chapter 376 shall file with its annual statement required by section 375.041 and section 376.350 a certification by a member in good standing of the American Academy of Actuaries.  Filing the opinion required by subsection 4 of section 376.380 will satisfy the requirement of this subsection if such opinion also complies with subsection 6 of this section.

  3.  Each insurance company other than a life insurance company, organized under chapter 379, shall file with its annual statement required by section 375.041 and section 379.105 a certification by a member in good standing of the American Academy of Actuaries.

  4.  Except as provided by subsection 6 of this section, the certification required of a health services corporation and a life insurance company by subsections 1 and 2 of this section must conform to the National Association of Insurance Commissioners' annual statement instructions for life and accident and health insurers.

  5.  Except as provided by subsection 6 of this section, the certification required of an insurance company other than life by subsection 3 of this section must conform to the National Association of Insurance Commissioners' annual statement instructions for property and casualty insurers.

  6.  Notwithstanding any provision of the National Association of Insurance Commissioners' annual statement instruction for life and accident and health or property and casualty insurers, the certification must be made by a member in good standing of the American Academy of Actuaries.

  7.  The director shall promulgate such rules as are necessary for the implementation and administration of this section.

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(L. 1991 H.B. 385, et al. § 16, A.L. 1993 H.B. 709)