Section 383.015

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 383

Effective - 26 Jun 1975, see footnote   

  383.015.  License fee — registered agent required — articles of association required, contents of — bylaws, provisions required and allowed. — 1.  Any such group of persons desiring to provide malpractice insurance or indemnification for its members shall pay a license fee of one hundred dollars and shall file articles of association with the director of the department of commerce and insurance.  The articles shall be filed in accordance with the provisions of sections 375.201 to 375.236 and shall also include the names of persons initially associated, the method by which other persons may be admitted to the association as members, the purposes for which organized, the amount of the initial assessment which has been paid into the association, the method of assessment thereafter, and the maximum amount of any assessment which the association may make against any member.  The articles of association shall provide for bylaws and for the amendment of the articles of association and bylaws.

  2.  Each association shall designate and maintain a registered agent within this state, and service upon the agent shall be service upon the association and each of its members.

  3.  The articles of association shall be accompanied by a copy of the initial bylaws of the association.  The bylaws shall provide for a governing body for the association, a manner of election thereof, the manner in which assessments will be made, the specific kinds of insurance or indemnification which will be offered, the classes of membership which will be offered, and may provide that assessments of various amounts for particular classes of membership may be made.  All assessments shall be uniform within classes.  The bylaws may provide for the transfer of risks to other insurance companies or for reinsurance.

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(L. 1975 S.B. 458 § 2)

Effective 6-26-75