☰ Revisor of Missouri

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 379

Effective - 28 Aug 2007 bottom

  379.1376.  Contract requirements. — A SPLRC may enter into a SPLRC contract with a ceding company, provided:

  (1)  The SPLRC has been granted a license to transact business as an SPLRC under sections 379.1353 to 379.1421; and

  (2)  The SPLRC provides the director with evidence of an approval or nondisapproval from the insurance regulatory official of the ceding company's state or country of domicile to enter into the SPLRC contract.  If the ceding company's domiciliary insurance regulatory official does not customarily provide evidence of such approval or nondisapproval, the director shall approve the SPLRC's execution of such SPLRC contract if such SPLRC contract would be acceptable if an assuming insurer domiciled in this state were to propose execution of the same with its ceding company for the purpose of assuming such reinsurance and an officer of the SPLRC provides the director with a certification that terms of the SPLRC contract meet the requirements for the ceding company to obtain credit in its state of domicile for reinsurance ceded under the SPLRC contract.

­­--------

(L. 2007 S.B. 215)


---- end of effective   28 Aug 2007 ----

use this link to bookmark section  379.1376


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 Pictures Contact

Other Links
Oversight MOLIS Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House

@08:09:35.3 27 :)