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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 382

Effective - 01 Jan 2019, see footnote bottom

  382.600.  Purpose — applicability. — 1.  The purpose of sections 382.600 to 382.640 is to:

  (1)  Provide the director a summary of an insurer or insurance group's corporate governance structure, policies, and practices to permit the director to gain and maintain an understanding of the insurer or insurance group's corporate governance framework;

  (2)  Outline the requirements for completing a corporate governance annual disclosure with the director; and

  (3)  Provide for the confidential treatment of the corporate governance annual disclosure and related information that will contain confidential and sensitive information related to an insurer or insurance group's internal operations and proprietary and trade secret information which if made public could potentially cause the insurer or insurance group competitive harm or disadvantage.

  2.  Nothing in sections 382.600 to 382.640 shall be construed to prescribe or impose corporate governance standards and internal procedures beyond that which are required under applicable state corporate law.  Notwithstanding the foregoing, nothing in sections 382.600 to 382.640 shall be construed to limit the director's authority or the rights or obligations of third parties under chapter 374 relating to the examination of insurers.

  3.  The requirements of sections 382.600 to 382.640 shall apply to all insurers domiciled in this state.

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(L. 2018 S.B. 593)

Effective 1-01-19


---- end of effective   01 Jan 2019 ----

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@19:19:20.1 28 :)