Title XXIV — BUSINESS AND FINANCIAL INSTITUTIONS

376.290. Deposit and transfer of securities. — No existing company organized under any general or special law of this state, and transacting business of the character designated in section 376.010, nor any company organized under sections 376.010 to 376.670, shall commence, conti…

376.291. Applicability and inapplicability. — Sections 376.291 to 376.307 shall apply only to investments and investment practices of domestic insurers organized under the provisions of this chapter. Sections 376.291 to 376.307 shall not apply to separate accounts of an insurer e…

376.292. Definitions. — As used in sections 376.291 to 376.307, the following terms mean: (1) "Acceptable collateral", as to securities lending repurchase and reverse repurchase transactions, any financial assets of a type for which, when taken as collateral by an insurer in such…

376.293. Permissible investments — written plan for investments required. — 1. (1) Insurers may acquire, hold, or invest in investments or engage in investment practices as set forth in this chapter or section 375.345. Insurers may also acquire, hold, or invest in investments not…

376.294. Prohibited acts. — 1. An insurer shall not directly or indirectly: (1) Invest in an obligation or security or make a guarantee for the benefit of or in favor of an officer or director of the insurer except as provided in section 376.295; (2) Invest in an obligation or se…

376.295. Additional prohibited acts — authorized actions. — 1. (1) Except as provided in subsection 2 of this section, an insurer shall not without written approval of the director, directly or indirectly: (a) Make a loan to or other investment in an officer or director of the in…

376.296. Value of investments, how calculated. — The value or amount of an investment acquired or held or an investment practice engaged in under this chapter, unless otherwise specified in this code, shall be the value at which assets of an insurer are required to be reported fo…

376.297. Investment subsidiaries not permitted, when. — 1. (1) Except as otherwise specified in this chapter, an insurer shall not acquire an investment directly or indirectly through an investment subsidiary if, as a result of and after giving effect to the investment, the insur…

376.298. Acquisition of rate credit instruments, when. — 1. Subject to the limitations of subsection 6 of this section and subsection 2 of section 376.297, an insurer may acquire rated credit instruments issued, assumed, guaranteed or issued by: (1) The United States; or (2) A go…

376.300. Equity interests permitted, when. — 1. Subject to the limitations of section 376.297, an insurer may acquire equity interests in business entities organized under the laws of any domestic jurisdiction. 2. An insurer shall not acquire an investment under this section if a…

376.301. Tangible personal property interests permitted, when. — 1. (1) Subject to the limitations of section 376.297, an insurer may acquire tangible personal property or equity interest therein located or used wholly or in part within a domestic jurisdiction directly or indirec…

376.302. Mortgage interests, may be acquired, when — other real estate interests. — 1. (1) Subject to the limitations of section 376.297, an insurer may acquire directly or indirectly through limited partnership interests and general partnership interests not otherwise prohibited…

376.303. Lending and repurchase, permitted when. — An insurer may enter into securities lending, repurchase, reverse repurchase, and dollar-roll transactions with business entities subject to the following requirements: (1) The insurer's board of directors shall adopt a written p…

376.304. Acquisition of foreign investments, when. — 1. Subject to the limitations of section 376.297, an insurer may acquire foreign investments or engage in investment practices with persons of or in foreign jurisdictions of substantially the same types as those that an insurer…

376.305. Rulemaking authority. — The director may promulgate rules to implement the provisions of sections 376.291 to 376.307. Any rule or portion of a rule, as that term is defined in section 536.010, that is created under the authority delegated in this section shall become eff…

376.306. Cash surrender value, life insurer may lend to policyholder, when. — A life insurer may lend to a policyholder on the security of the cash surrender value of the policyholder's policy a sum not to exceed the legal reserve that the insurer is required to maintain on the p…

376.307. Limits on acquisition of certain investments. — 1. Solely for the purpose of acquiring investments that exceed the quantitative limitations of sections 376.297 to 376.304, an insurer may acquire under this subsection an investment, or engage in investment practices descr…

376.308. Secondary mortgage market act, not to preempt health insurer, when. — No requirement for the making of any investment or holding any asset by an insurer, health services corporation, health maintenance organization or other entity regulated by the department of commerce …

376.309. Separate account defined — establishment of account and special voting or control rights authorized — approved investments — approval of director required. — 1. As used in this section, "separate account" means an account established by an insurance company, into which a…

376.310. Investment of surplus and reserve funds by foreign companies. — Any life insurance company organized under the laws of another state, and admitted to do business in the state of Missouri, shall have power to invest its capital, reserve and surplus funds in the same manne…

376.311. Investment of capital reserve and surplus of life insurance companies in investment pools — definitions — qualifications — requirements. — 1. In addition to the investments permitted by other provisions of the laws, the capital reserve and surplus of all life insurance c…

376.325. Any willing provider provision — definitions. — 1. To the extent a health carrier has developed a closed or exclusive provider network as provided in subdivision (19) of section 376.426 through contractual arrangements with selected providers, such health carrier shall a…

376.330. Securities may be changed. — Any company organized under the laws of this state, or doing in this state any business mentioned in section 376.010, may at any time change the securities in which its capital or any part thereof is invested, whether the same are deposited w…

376.350. Reports to director. — 1. It shall be the duty of the president or vice president and secretary or actuary, or a majority of the directors, of every life assurance company organized pursuant to sections 376.010 to 376.670 or pursuant to the laws of this state, or any suc…

376.360. Distribution of surplus funds to participating policyholders — method. — 1. All life insurance companies organized under the laws of this state shall ascertain and distribute annually, and not otherwise, beginning not later than the end of the third policy year, the prop…

376.365. Standard valuation law — definitions. — 1. Sections 376.365 to 376.380 shall be known and may be cited as the "Standard Valuation Law". 2. As used in sections 376.365 to 376.380, the following terms shall mean and apply on or after the operative date of the valuation man…

376.370. Director to value reserves, methods. — 1. (1) The director of the department of commerce and insurance shall annually value, or cause to be valued, the reserve liabilities, herein called reserves, for all outstanding life insurance policies and annuity and pure endowment…

*376.379. Medication synchronization services, offer of coverage required. — 1. A health carrier or managed care plan offering a health benefit plan in this state that provides prescription drug coverage shall offer, as part of the plan, medication synchronization services develo…

376.380. Legal minimum standards for valuation — interest rates — valuation manual, operative date, effect of — reserves required — confidential information — exemptions for specific product forms or product lines. — 1. The legal minimum standard for valuation of policies and con…

376.381. Health insurance products, department duties. — Notwithstanding any other provision of law to the contrary, the department of commerce and insurance shall exercise its authority and responsibility over health insurance product form filings, consumer complaints, and inves…

376.383. Health care claims for reimbursement, how paid, when — definitions — clean claims, procedure — unpaid claims, procedure — fraudulent claims, notification to the department, procedure — requests for additional information, contents. — 1. For purposes of this section and s…

376.384. Reimbursement of claims, duties of health carriers — claims submitted in electronic format, when — compliance monitored by department — complaint procedures developed — standard medical code sets required, when — rulemaking authority. — 1. All health carriers shall: (1) …

376.385. Diabetes — insurance coverage for equipment, supplies and self-management training. — 1. Each entity offering individual and group health insurance policies providing coverage on an expense-incurred basis, individual and group service or indemnity type contracts issued b…

376.386. Prescription drugs, one co-payment for dosage prescribed. — For any health carrier or health benefit plan, as defined in section 376.1350, that provides prescription drug coverage, if a prescription drug covered by a health carrier or health benefit plan is prescribed in…

376.387. Pharmacy benefits manager, limitations and restrictions — enforcement. — 1. For purposes of this section, the following terms shall mean: (1) "Covered person", the same meaning as such term is defined in section 376.1257; (2) "Health benefit plan", the same meaning as su…

*376.388. Maximum allowable costs — definitions — contract requirements — reimbursement — appeals process required. — 1. As used in this section, unless the context requires otherwise, the following terms shall mean: (1) "Contracted pharmacy" or "pharmacy", a pharmacy located in …

376.390. Reserve liability for group insurance — how computed. — The reserve liability for group insurance written by any life insurance company doing business in this state shall be computed upon such tables and basis as may be approved by the director of the department of comme…

376.391. Co-payments for chiropractic services, cap. — A health benefit plan or health carrier, as defined in section 376.1350, including but not limited to preferred provider organizations, independent physicians associations, third-party administrators, or any entity that contr…

376.392. Prescription drug formularies, enrollees to be notified of changes to, when. — For any health carrier or health benefit plan, as defined in section 376.1350, that provides prescription drug coverage or contracts with a third-party for prescription drug services, the heal…

376.393. Pharmacy benefits manager, license required — definitions — complaints, procedure. — 1. As used in this section, the following terms shall mean: (1) "Health carrier" or "carrier", the same meaning as is ascribed to such term in section 376.1350; (2) "Pharmacy benefits ma…

376.395. Definitions for group health conversion policy requirements. — As used in sections 376.395 to 376.404 the following terms shall mean: (1) "Group policy", a group health insurance policy issued by an insurance company and a group contract issued by a health service corpor…

376.397. Converted policy to be offered on termination of group health coverage, when — exceptions — terms and conditions. — 1. A group policy delivered or issued for delivery in this state which insures employees or members for hospital, surgical or major medical insurance on an…

376.398. Application to all group policies — effective, when. — The provisions of sections 376.395 to 376.404 shall become effective January 1, 1983, and shall apply to all group policies delivered, issued for delivery or amended on or after January 1, 1983. ­­-------- (L. 1981 S…

376.401. Conversion rights — retirees — dependents of insured. — 1. In the event coverage would be continued under the group policy on an employee following his retirement, but prior to the time he is or could be covered by Medicare, the employee or member may elect, in lieu of s…

376.403. Benefit levels — group coverage may be provided in lieu of converted policy — delivery outside state, form. — 1. If the benefit levels required in subdivision (9) of subsection 1 of section 376.397 exceed the benefit levels provided under the group policy, the converted …

376.404. Specific requirement requests of policyholder may be met by alteration. — Upon written request by the group policyholder, the coverages required in section 376.397 may be changed or altered to meet the specific requirements of such group policyholder. ­­-------- (L. 1981…

376.405. Group health and accident policies, approval required — exempt, when, director's powers. — 1. No insurance company licensed to transact business in this state shall deliver or issue for delivery in this state any policy of group accident or group health insurance, or gro…

376.406. Newborn child to be covered under health policies, extent of coverage — notification of birth, when, effect of — definitions. — 1. All health benefit plans which provide coverage for a family member of an enrollee shall, as to such family member's coverage, also provide …

376.407. Advance practice nurse, claims for service to be reimbursed, when. — Any health insurer, as defined in section 376.806, nonprofit health service plan or health maintenance organization shall reimburse a claim for services provided by an advance practice nurse, as defined…

376.410. Insurance companies to maintain reserves — exemptions. — Except as provided in subdivision (6) of this section, all companies organized under the laws of this state, and engaged in writing policies of accident or health insurance, or combination policies of accident and …