Title XXIV, BUSINESS AND FINANCIAL INSTITUTIONS

382.535. Information and ORSA summary report is proprietary and contains trade secrets, confidentiality — permissible acts by director — no waiver of confidentiality or privilege. — 1. Documents, materials, or other information, including the ORSA summary report, in the possessio…

382.540. Violation, failure to file ORSA summary report. — 1. Subject to subsection 1 of section 374.215, any insurer failing without just cause to timely file an ORSA summary report as required in sections 382.500 to 382.550 commits a level two violation under section 374.049 wi…

382.545. Severability clause. — If any provision of sections 382.500 to 382.550 or the application thereof to any person or circumstance is held invalid, such determination shall not affect the provisions or applications of sections 382.500 to 382.550 which may be given effect wi…

382.550. Effective date — first filing date. — Sections 382.500 to 382.550 shall become effective January 1, 2016. The first filing of ORSA summary reports shall be in 2016 in accordance with section 382.520. ­­-------- (L. 2015 H.B. 50) Effective 1-01-16

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 t…

382.605. Definitions. — As used in sections 382.600 to 382.640, the following terms shall mean: (1) "Corporate governance annual disclosure" or "CGAD", a confidential report filed by the insurer or insurance group made in accordance with the requirements of sections 382.600 to 38…

382.610. CGAD submitted to director, when — attestation required — information may be provided — review of CGAD — duplication of information not required, when. — 1. An insurer, or the insurance group of which the insurer is a member, shall, before June first of each calendar yea…

382.615. CGAD inquiries, responses to — recordkeeping. — 1. The insurer or insurance group shall have discretion over the responses to the CGAD inquiries, provided that the CGAD shall contain the material information necessary to permit the director to gain an understanding of th…

382.620. Documents, materials, and information recognized by state as proprietary and containing trade secrets — confidentiality — director's authority and duties. — 1. Documents, materials, or other information, including the CGAD, in the possession or control of the department …

382.625. Third-party consultants permitted, when — limitation on scope of authority — confidentiality — conflict of interest — written agreement, contents. — 1. The director may retain, at the insurer's expense, third-party consultants, including attorneys, actuaries, accountants…

382.630. Failure to timely file, penalty — enforcement. — 1. Any insurer failing without just cause to timely file a CGAD as required under sections 382.600 to 382.640 commits a level two violation under section 374.049 for each day's delay; provided that, the total maximum fine …

382.635. Rulemaking authority. — The director may, upon notice and opportunity for all interested persons to be heard, issue such rules, regulations, and orders as shall be necessary to carry out the provisions of sections 382.600 to 382.640. Any rule or portion of a rule, as tha…

382.640. Severability clause. — If any provision of sections 382.600 to 382.640 or the application thereof to any person or circumstance is held invalid under the Constitution of the United States or the Constitution of the state of Missouri, such determination shall not affect t…