Title XXIV — BUSINESS AND FINANCIAL INSTITUTIONS

374.005. Department created, duties — definitions. — 1. The department of insurance created by Section 36(b) of Article IV of the Missouri Constitution shall operate under the name "Department of Commerce and Insurance". Under the authority of the Omnibus State Reorganization Act…

374.007. Statutory reference changes authorized. — 1. The revisor of statutes shall change all references in the revised statutes of Missouri from "department of insurance", "insurance department" or "department of insurance, financial and professional regulation" to "department …

374.010. Department — general powers. — The department of commerce and insurance shall be charged with the execution of all laws now in force, or which may be hereafter enacted, in relation to insurance and insurance companies doing business in this state, and such other duties a…

374.015. Issuance of bulletins by director — definitions — bulleting not to have force and effect of law and are not binding. — 1. For purposes of this section, "insurer" shall mean any person, reciprocal exchange, interinsurer, Lloyds insurer, fraternal benefit society, and any …

374.018. Issuance of no-action letters by director — definitions — effect of letters — duty of department — letters not public records. — 1. For purposes of this section, "no-action letter" shall mean a letter that states the intention of the department to not take enforcement ac…

374.020. Director — qualifications — appointment. — 1. The chief officer of said department shall be designated as the director of the department of commerce and insurance. He shall be a citizen of this state, and experienced in matters of insurance, and be appointed by the gover…

374.030. Director — oath — bond. — Within twenty days after receiving his commission, and before entering upon the duties of his office, the director shall take the oath of office prescribed by the constitution of this state, and shall give a bond with a corporate surety or five …

374.040. Director — duties — administrative hearing commission law not applicable. — 1. It shall be the duty of the director of the department of commerce and insurance to file in his office and safely keep all books and papers required by law to be filed therein, to issue certif…

374.045. Director authorized to make rules and regulations, procedure, this chapter. — 1. The director shall have the full power and authority to make all reasonable rules and regulations to accomplish the following purposes: (1) To regulate the internal affairs of the department…

374.046. Relief issued by director for violations of state laws — considerations — notice — effective date of order — contents of order, procedures — penalty — costs — powers of director — service — order filed — noncompliance — modification of order — additional penalties — defi…

374.047. Willful violation of state law, order — notice. — 1. If the director determines, based on substantial and competent evidence, that a corporation or insurer with a certificate of authority under the laws relating to insurance willfully has engaged in an act, practice, omi…

374.048. Violations of state laws, action in circuit court — relief — bond — venue — judgment — fund created. — 1. If the director believes that a person has engaged, is engaging in or has taken a substantial step toward engaging in an act, practice, omission, or course of busine…

374.049. Classification of violations — orders, penalties — enhancement of penalties — reduction of penalties — deposit and use of penalties — effective date. — 1. Violations of the laws of this state relating to insurance in this chapter, chapter 354 and chapters 375 to 385, or …

374.050. Seal of office — effect. — 1. The seal now used by said department shall be the seal of the office of the director of the department of commerce and insurance, and the same may be renewed whenever necessary. 2. Every certificate or other paper executed by said director i…

374.051. Refusal of license and nonrenewal, applicant may appeal, procedure. — 1. Any applicant refused a license or the renewal of a license by order of the director under sections 374.755, 374.787, and 375.141 may file a petition with the administrative hearing commission alleg…

374.055. Grievance procedure. — 1. Except as otherwise provided, any interested person aggrieved by any order of the director under the laws of this state relating to insurance in this chapter, chapter 354, and chapters 375 to 385, or a rule adopted by the director, or by any ref…

374.056. Rulemaking authority, delivery methods. — Except as limited by section 375.922, the director may promulgate rules establishing the specific type of delivery method for submissions of rate and form filings, rules, license applications, including materials requested in the…

374.057. Filing of records and signatures authorized when in compliance with federal law. — The filing of records and signatures is authorized, when specified under this chapter, or chapters 287, 325, 354, and 375 to 385, or a rule adopted thereunder, when carried out in a manner…

374.060. Office location and hours. — 1. The director shall maintain his office in Jefferson City and shall keep the same open from eight a.m. to five p.m. every day except Saturdays, Sundays and public holidays. He shall be furnished with suitable rooms in the capitol or other s…

374.070. Office and records, public — copies — records disposed of or destroyed, when. — 1. The office shall be a public office and the records shall be public records and shall at all times be open to the inspection of the public subject to such rules as the director shall make …

374.071. Insurance records exempt from public disclosure — release permitted, when. — 1. The following records of the department are not public records and are not available for public examination under section 374.070: (1) Any document or other material in any consumer complaint…

374.075. Divisions, director may establish. — 1. The director may establish three or more divisions within the department to administer and enforce the laws of this state relating to insurance. The director shall establish at least one division, to be known as the "Division of Co…

374.080. Deputy director, appointment, powers — governor to appoint, when. — 1. The director may appoint a deputy, who shall be subject to removal at pleasure by the director, and who shall possess all the powers and perform all the duties attached by law to the office of directo…

374.085. Division of consumer affairs, duties — legal adviser may assist. — 1. The division of consumer affairs of the department of commerce and insurance shall perform the following functions: (1) The division shall receive complaints and inquiries from the general public conce…

374.090. Actuary, chief market conduct examiner and chief financial examiner, qualifications — bond required. — 1. The director shall appoint and employ an actuary, a chief market conduct examiner and a chief financial examiner, who shall be subject to removal at the pleasure of …

374.100. Actuary — duties — fees. — 1. The actuary shall perform those duties usually performed by actuaries and such other duties in connection with the department as the director may direct. 2. All fees allowed or paid to the actuary as provided by law shall be paid to the dire…

374.110. Examiner — duties — assistants — fees. — 1. The director of the department of commerce and insurance, through the chief examiner, may examine into the affairs and good faith of any person who is engaged in, or is claiming or advertising that he is engaged in, organizing …

374.120. Director to appoint employees — legal counsel — reinsurance analyst, qualifications. — 1. The director shall appoint and employ such clerks and clerical and other help which are necessary for a proper dispatch of the business of the department of commerce and insurance a…

374.130. Chief clerk, duties and powers. — The director may designate one of the clerks of the department of commerce and insurance as chief clerk, who shall possess the qualifications of the director, and shall, subject to the director and his deputy, have charge of the clerical…

374.150. Fees paid to director, exception — insurance dedicated fund established, purpose — lapse into general revenue, when. — 1. All fees due the state under the provisions of the insurance laws of this state shall be paid to the director and deposited in the state treasury to …

374.160. Expenses, how paid — state liability — assessment against companies, director to make, how. — 1. The expenses of examinations, valuations or proceedings against any company, and for dissolving or settling the affairs of companies are to be paid by the company, or as prov…

374.162. Insurance examiners fund, established — assessments against insurer, how determined, when. — 1. There is hereby established a fund for the examination expenses to be paid pursuant to section 374.160, to be known as the "Insurance Examiners Fund". There shall be an amount…

374.170. Forms furnished companies. — The director of the department of commerce and insurance shall cause to be prepared, and furnished to every insurance company doing business in this state, forms of the statements required by him from said companies, and he may make such chan…

374.180. Director to prepare report — publication — special reports. — 1. The director of the department of commerce and insurance shall prepare the following information to be included in the biennial report to the general assembly: (1) A brief review of the department during th…

374.182. Organization plan to be submitted — contents. — The department shall submit an organizational plan in the same manner as is required of departments under subsection (2) of section 1 of the Reorganization Act of 1974; provided, however, that the compensation levels to be …

374.184. Director to prescribe by rule uniform claim forms for reporting — consultation, hearing — contents of forms — companies may request additional information — effective date of regulations. — 1. The director of the department of commerce and insurance shall prescribe by ru…

374.185. Uniformity of regulation, director to cooperate. — 1. The director may cooperate, coordinate, and consult with other members of the National Association of Insurance Commissioners, the commissioner of securities, state securities regulators, the division of finance, the …

374.190. Investigation of companies — confidentiality. — 1. The director shall examine and inquire into all violations of the insurance laws of the state, and inquire into and investigate the business of insurance transacted in this state by any insurance agent, broker, agency or…

374.191. Interest rate on certain claims, refunds, penalties, or payments under legal or remedial actions — inapplicable, when. — 1. If an insurance company is required to pay interest on any claims, refunds, penalties, or payments under a market conduct examination, investigatio…

374.192. Submission of records, time limitation, when — limitation on director review — internal standards. — 1. Notwithstanding any provision of law to the contrary, a regulated entity shall have not less than thirty calendar days to submit any record or material requested by th…

374.194. Health coverage providers to be subject to jurisdiction of department, exceptions — examination to be performed, when — requirements of health coverage providers. — 1. Notwithstanding any other provision of law to the contrary, and except as provided in this section, any…

374.202. Purpose of law — definitions. — 1. The purpose of sections 374.202 to 374.207 is to provide an effective and efficient system for examining the activities, operations, financial or market conduct, condition and affairs of all persons transacting the business of insurance…

374.205. Examination, director may conduct when, required when — duties — nonresident insurer, options, procedures — reports, contents, use of — hearings, procedures — working papers, records, confidential. — 1. (1) The director or any of the director's examiners may conduct an e…

374.207. Examiners, appointment of, restrictions — expenses of examination, how paid — immunity of director, examiners. — 1. No examiner may be appointed by the director if such examiner, either directly or indirectly, has a conflict of interest or is affiliated with the manageme…

374.210. False testimony — refusal to furnish information — penalties. — 1. It is unlawful for any person in any investigation, examination, inquiry, or other proceeding under this chapter, chapter 354, or chapters 375 to 385, to: (1) Knowingly make or cause to be made a false st…

374.215. Failure to timely file report or statement, penalty. — 1. If any insurance company or other entity regulated by the director doing business in this state fails to timely make and file any statutorily required report or statement, the department shall notify such company …

374.216. False financial statements, filing of — penalty. — 1. A person commits the offense of filing a false insurance statement if he prepares, makes, submits or files a financial report or statement with the department of commerce and insurance with the purpose to misrepresent…

374.217. Covenant not to sue officers of insurer, prohibited — no force and effect. — 1. The director or any other employee of the department of commerce and insurance shall not enter into any covenant not to sue or any agreement to defer, refrain or desist from instituting or as…

374.220. Expenses, how paid. — 1. The expenses of proceedings against insurance companies, and examinations of the assets or liabilities and valuations of policies of insurance companies doing business in this state, shall be assessed by the director upon the company proceeded ag…

374.230. Fees — paid to director. — Every individual or entity making a filing with the department described below shall pay to the director the following fees and charges, to be paid into the insurance dedicated fund established under section 374.150: (1) For filing the declarat…