Title XXIV — BUSINESS AND FINANCIAL INSTITUTIONS

375.1234. Foreign insurers, petition to liquidate assets, grounds — granted when — effects. — 1. If no domiciliary receiver has been appointed, the director may apply to the circuit court of Cole County by verified petition for an order directing him to liquidate the assets found…

375.1235. Reciprocal state, powers and duties of domiciliary liquidator — nonreciprocal state, duties of director — claims filed, where. — 1. The domiciliary liquidator of an insurer domiciled in a reciprocal state shall, except as to the special deposits and security on secured …

375.1236. Ancillary receiver, director may be appointed as — powers and duties. — 1. If a domiciliary liquidator has been appointed for an insurer not domiciled in this state, the director may file a petition with the circuit court of Cole County requesting appointment as ancilla…

375.1238. Power of director to institute proceedings, when. — The director in his sole discretion may institute proceedings under sections 375.1160 to 375.1164 at the request of the director of the state department of commerce and insurance, or other appropriate insurance officia…

375.1240. Nonresident claims, filed where. — 1. In a liquidation proceeding begun in this state against an insurer domiciled in this state, claimants residing in foreign countries or in states which are not reciprocal states must file claims in this state, and claimants residing …

375.1242. Proof of claims, nonresident insurer — procedures. — 1. In a liquidation proceeding in a reciprocal state against an insurer domiciled in that state, claimants against the insurer who reside within this state may file claims either with the ancillary receiver, if any, i…

375.1244. Stay of actions during liquidation proceedings. — During the pendency in this or any other state of a liquidation proceeding, whether called by that name or not, no action or proceeding in the nature of an attachment, garnishment or levy of execution shall be commenced …

375.1245. Priority of nonresident claims, reciprocal states — special deposits, priority. — 1. In a liquidation proceeding in this state involving one or more reciprocal states, the order of distribution of the domiciliary state shall control as to all claims of residents of this…

375.1246. Nonresident ancillary receiver, claims filed with — priority. — If an ancillary receiver in another state or foreign country, whether called by that name or not, fails to transfer to the domiciliary liquidator in this state any assets within his control other than speci…

375.1250. Definitions. — As used in sections 375.1250 to 375.1275 and in the Risk-Based Capital (RBC) Instructions, the following terms mean: (1) "Adjusted RBC report", an RBC report which has been adjusted in accordance with subsection 6 of section 375.1252; (2) "Corrective orde…

375.1252. RBC report, filed when — contents — formula, how determined — adjusted RBC report required, when. — 1. Every domestic insurer and every health organization shall, on or prior to each March first, prepare and submit to the director a report of its RBC level as of the end…

375.1255. Company action level event, occurrence of, when — effect, duties of insurer or health organization — plan to be submitted, approval of, revision of, when — copies filed with all states in which insurer is authorized to transact business. — 1. "Company action level event…

375.1257. Regulatory action level event, occurrence of, when — director's duties, corrective actions — plan to be submitted by insurer — or health organization. — 1. "Regulatory action level event" means, with respect to any insurer or health organization, any of the following ev…

375.1260. Authorized control level event, occurrence of, when — effect, duties of director. — 1. "Authorized control level event" means any of the following events: (1) The filing of an RBC report by the insurer or health organization which indicates that the insurer's or health …

375.1262. Mandatory control level event, occurrence of, when — effect, duties of director. — 1. "Mandatory control level event" means, with respect to any insurer or health organization, any of the following events: (1) The filing of an RBC report which indicates that the insurer…

375.1265. Hearing, insurer's right to, when — procedures — judicial review of order, exceptions. — 1. Upon: (1) Notification to an insurer or health organization by the director of an adjusted RBC report; or (2) Notification to an insurer or health organization by the director th…

375.1267. Reports and plans confidential — RBC levels are regulatory tool, limitation on use. — 1. All RBC reports, to the extent the information therein is not required to be set forth in a publicly available annual statement schedule, and RBC plans, including the results or rep…

375.1269. Provisions of law supplemental to other insurance laws — rules and regulations, authority — exemption of property — immunity from liability. — 1. The provisions of sections 375.1250 to 375.1275 are supplemental to any other provisions of the laws of this state, and shal…

375.1270. Foreign insurers to submit RBC report to director, when — plan, submission of, when — powers of director. — 1. Any foreign insurer or foreign health organization shall, upon the written request of the director, submit to the director an RBC report as of the end of the c…

375.1272. Notices, effective when. — All notices by the director to an insurer or health organization which may result in regulatory action under sections 375.1250 to 375.1275 shall be effective upon dispatch if transmitted by registered or certified mail, or in the case of any o…

375.1275. RBC reports for calendar year 1993, requirements — RBC reports for 1996, requirements — 2014 filings for health organizations. — 1. For RBC reports required to be filed by life and health insurers with respect to 1993, the following requirements shall apply in lieu of t…

375.1280. Scope of law. — Sections 375.1280 to 375.1295 provide for the regulation of the transfer and novation of contracts of insurance by way of assumption reinsurance. It defines assumption reinsurance and establishes notice and disclosure requirements which protect and defin…

375.1282. Application of law — not applicable, when. — 1. Sections 375.1280 to 375.1295 apply to any insurer authorized in this state which either assumes or transfers the obligations or risks on contracts of insurance owned by policyholders pursuant to an assumption reinsurance …

375.1285. Definitions. — As used in sections 375.1280 to 375.1295, the following terms mean: (1) "Assuming insurer", the insurer which acquires an insurance obligation or risk from the transferring insurer pursuant to an assumption reinsurance agreement; (2) "Assumption reinsuran…

375.1287. Notice of transfer, form, contents, filing with director, when — prior approval required, period for approval, factors for director to consider in reviewing request — penalty for violation. — 1. A notice of transfer regarding an assumption reinsurance agreement shall be…

375.1290. Policyholder's right to reject, procedures — second and third notices, when — response deemed received, when. — 1. Every policyholder shall have the right to reject the transfer and novation of their contract of insurance. Policyholders electing to reject the assumption…

[Repealed or reserved.]

375.1294. Hazardous financial condition of transferring insurer, automatic transfer, when. — If an insurer domiciled in this state or in a jurisdiction not having a substantially similar law is deemed by the director to be in hazardous financial condition, or if an administrative…

375.1295. Effective date — application dates. — 1. Sections 375.1280 to 375.1295 shall apply to all assumption reinsurance agreements entered into on or after August 28, 1993. 2. Any person who prior to August 28, 1993, committed any act punishable under subsection 10 of section …

375.1300. Definitions. — When used in sections 375.1300 to 375.1312, the following terms mean: (1) "Consultant", an individual, partnership or corporation who, for a fee, holds himself or itself out to the public as engaged in the business of offering any advice, counsel, opinion…

375.1303. Genetic testing by insurer, limitations — penalty — health plan, defined. — 1. Any insurer, in determining eligibility for coverage, establishing premiums, limiting coverage, renewing coverage or any other underwriting decision, shall not, in connection with the offer, …

375.1306. Genetic information, prohibited uses by employers — penalty for violation. — 1. An employer shall not use any genetic information or genetic test results, as those terms are defined in subdivisions (3) and (4) of section 375.1300, of an employee or prospective employee …

375.1309. Confidentiality of genetic information, exceptions — penalty for violation. — 1. Any person who, in the ordinary course of business, practice of a profession or rendering of a service, creates, stores, receives or furnishes genetic information, as such term is defined i…

375.1312. Domestic violence, status as a victim not to be used by insurer — definitions — penalty — innocent coinsured, benefits paid, when. — 1. As used in this section, the following terms mean: (1) "Domestic violence" and "family" or "household member", as such terms are defin…

375.136. Producer placing business with a nonadmitted company or nonresident is subject to chapter 384. — Any insurance producer placing business with a nonresident agent or producer of a nonadmitted insurance company or direct with a nonadmitted insurance company or nonresident …

375.1400. Citation of law — act is exclusive state standards for licensees, when. — 1. Sections 375.1400 to 375.1427 shall be known and may be cited as the "Insurance Data Security Act". 2. Notwithstanding any other provision of law, sections 375.1400 to 375.1427 establish the ex…

375.1402. Definitions. — As used in sections 375.1400 to 375.1427, the following terms mean: (1) "Authorized person", an individual known to and authorized by the licensee and determined to be necessary and appropriate to have access to the nonpublic information held by the licen…

375.1405. Risk assessment and protection of nonpublic information — information security program, design — licensee duties — board duties — incident response plan — compliance statement. — 1. Commensurate with the size and complexity of the licensee; the nature and scope of the l…

375.1407. Cybersecurity event investigation, procedures. — 1. If the licensee learns that a cybersecurity event has or may have occurred, the licensee, or an outside vendor or service provider designated to act on behalf of the licensee, shall conduct a prompt investigation. 2. D…

375.141. Suspension, revocation, refusal of license — grounds — procedure. — 1. The director may suspend, revoke, refuse to issue or refuse to renew an insurance producer license for any one or more of the following causes: (1) Intentionally providing materially incorrect, mislea…

375.1410. Cybersecurity event, notification to director, contents — nonpublic information, procedure. — 1. Each licensee shall notify the director as promptly as practicable, but in no event later than four business days, from a determination that a cybersecurity event involving …

375.1412. Investigation, powers of director. — 1. The director shall have power to examine and investigate the affairs of any licensee to determine whether the licensee has been or is engaged in any conduct in violation of sections 375.1400 to 375.1427. This power is in addition …

375.1415. Confidentiality of documents, materials, or other information — sharing restrictions. — 1. Any documents, materials, or other information in the control or possession of the department that are furnished by a licensee or an employee or agent thereof acting on behalf of …

375.1417. Exceptions to act. — 1. The following exceptions shall apply to sections 375.1400 to 375.1427: (1) A licensee with fewer than ten employees, including any independent contractors, is exempt from the provisions of section 375.1405; (2) A licensee subject to and governed …

375.1420. Violations, penalty. — In the case of a violation of sections 375.1400 to 375.1427, a licensee may be subject to penalties as provided by law, including sections 374.046, 374.048, and 374.049. ­­-------- (L. 2025 H.B. 974, et al.) Effective 1-01-26; see § 375.1427

375.1422. Rulemaking authority. — The director of the department of commerce and insurance may promulgate rules as necessary for the implementation of sections 375.1400 to 375.1427. Any rule or portion of a rule, as that term is defined in section 536.010, that is created under t…

375.1425. Severability clause. — If any provision of sections 375.1400 to 375.1427 or the application thereof to any person or circumstance is for any reason held to be invalid, the remainder of sections 375.1400 to 375.1427 and the application of such provision to other persons …

375.1427. Effective and implementation dates. — Sections 375.1400 to 375.1427 shall take effect on January 1, 2026. Licensees shall have until January 1, 2027, to implement section 375.1405 and until January 1, 2028, to implement subsection 6 of section 375.1405. ­­-------- (L. 2…

375.143. Rulemaking authority. — In order to effectuate and aid in the interpretation of section 375.141, the director, under section 374.045, may adopt rules and regulations codifying professional standards of producer competency and trustworthiness in the handling of applicatio…

375.144. Prohibited acts in connection with the offer, sale, solicitation, or negotiation of insurance. — It is unlawful for any person, in connection with the offer, sale, solicitation or negotiation of insurance, directly or indirectly, to: (1) Employ any deception, device, sch…