Title XXIV — BUSINESS AND FINANCIAL INSTITUTIONS

376.677. Life policies may be issued that have no cash surrender value prior to death — no policy loans so law regulating not applicable — requirements to issue. — 1. Notwithstanding any provision of section 376.670, to the contrary, after September 28, 1987, a company may issue …

376.678. Life insurance policies and annuity contracts, annual statement to holder required — company to furnish policy or contract information to holder upon request. — 1. Notwithstanding any other provision of law, all life insurance companies licensed to do business in this st…

376.679. Life insurance company may reinsure for risks involving aircraft, limitation. — Any domestic life insurer or reinsurer may also reinsure, by itself, or together with other insurance companies, subject to any limitations, approval or rules promulgated by the director of t…

376.680. Assignment of incidents of ownership, group life policy, effect of. — Subject to the terms of the policy relating to assignment of incidents of ownership thereunder, a person whose life is insured under a policy of group life insurance may assign any or all incidents of …

376.685. Optometrists, health insurance plans not to limit fees charged unless reimbursed by plan — requirements — definitions. — 1. No agreement between a health carrier or other insurer that writes vision insurance and an optometrist for the provision of vision services on a pr…

376.690. Unanticipated out-of-network care, claim procedure — definitions — limitation on amount billed to patient — external arbitration process — rulemaking authority. — 1. As used in this section, the following terms shall mean: (1) "Emergency medical condition", the same mean…

376.691. Group life policies, eligible groups authorized for issue — premiums, how paid. — Except as provided in section 376.693, no policy of group life insurance shall be delivered in this state unless it is one of the following: (1) A policy issued to an employer, or to the tr…

376.693. Special group life policies, requirements — director's approval. — Group life insurance offered to a resident of this state under a group life insurance policy issued to a group other than one described in section 376.691 shall be subject to the following requirements: (…

376.694. Group life, definitions of direct response solicitation and sponsoring or endorsing entity — certain insurers required to give notice of compensation to policyholder or endorsing entity. — 1. As used in this section, the following terms shall mean: (1) "Direct response s…

376.695. Extension of policy to insure for loss due to death of spouse or dependent children, requirements, limitations. — Except for a policy issued under subdivision (2) of section 376.691, a group life insurance policy may be extended to insure the employees or members against…

376.696. Political subdivisions purchasing any insurance policies to submit to competitive bidding, when — renewal between bidding periods deemed extension. — Any other law to the contrary notwithstanding, no contract shall be entered into by the governing body of any political s…

376.697. Required provisions for group life policies. — No policy of group life insurance shall be delivered in this state unless it contains in substance the following provisions, or similar provisions which, in the opinion of the director of the department of commerce and insur…

376.699. Person insured by group policy entitled to individual life policy, notice requirements. — If any individual insured under a group life insurance policy hereafter delivered in this state becomes entitled under the terms of such policy to have an individual policy of life …

376.700. Purpose — use of additional material. — 1. The purpose of sections 376.700 to 376.714 is to require insurers to deliver to purchasers of life insurance, information which will improve the buyer's ability to select the most appropriate plan of life insurance for his needs…

376.702. Application of law — exceptions. — 1. Except as hereafter exempted, sections 376.700 to 376.714 shall apply to any solicitation, negotiation or procurement of life insurance occurring within this state. Sections 376.700 to 376.714 shall apply to every issuer of life insu…

376.704. Definitions. — For the purposes of sections 376.700 to 376.714, the following definitions shall apply: (1) "Buyer's guide", a document which contains, and is limited to, the language contained in section 376.714 or language approved by the director of the department of c…

376.706. Delivery of guide and summary required, when. — 1. The insurer shall provide, to all prospective purchasers, a buyer's guide and a policy summary prior to accepting the applicant's initial premium or premium deposit, unless the policy for which application is made contai…

376.708. Required presentations and statements — company to maintain file. — 1. Each insurer shall maintain at its home office or principal office, a complete file containing one copy of each document authorized by the insurer for use pursuant to sections 376.700 to 376.714. Such…

376.710. Effect of omission. — Deliberate failure of an insurer to provide or deliver a buyer's guide, or a policy summary as provided in section 376.706 shall constitute an omission which misrepresents the benefits, advantages, conditions or terms of an insurance policy, and an …

376.712. Effective date. — Sections 376.700 to 376.714 shall apply to all solicitations of life insurance which commence on or after January 1, 1980. ­­-------- (L. 1979 H.B. 508 § 7)

376.714. Contents and form of buyer's guide. — The life insurance buyer's guide shall consist of the following: (1) The face page of the buyer's guide shall read as follows: ­ ­ (2) The buyer's guide shall contain the following language at the bottom of page 2: ­ ­ (3) The remain…

376.715. Citation of law, purpose. — 1. Sections 376.715 to 376.758 shall be known and may be cited as the "Missouri Life and Health Insurance Guaranty Association Act". 2. The purpose of sections 376.715 to 376.758 is to protect, subject to certain limitations, the persons speci…

376.717. Coverages provided, persons covered — coverage not provided, when — maximum benefits allowable. — 1. Sections 376.715 to 376.758 shall provide coverage for the policies and contracts specified in subsection 2 of this section: (1) To persons who, regardless of where they …

376.718. Definitions. — As used in sections 376.715 to 376.758, the following terms shall mean: (1) "Account", any of the accounts created under section 376.720; (2) "Association", the Missouri life and health insurance guaranty association created under section 376.720; (3) "Ben…

376.720. Association, created — accounts — director to supervise. — 1. There is created a nonprofit legal entity to be known as the "Missouri Life and Health Insurance Guaranty Association". All member insurers shall be and remain members of the association as a condition of thei…

376.722. Board of directors, established, members, how selected — expense reimbursement. — 1. The board of directors of the association shall consist of not less than seven nor more than eleven member insurers serving terms as established in the plan of operation. The members of …

376.724. Impaired insurers, association's options, duties — insolvent insurers, association's options, duties — alternative policies, requirements. — 1. If a member insurer is an impaired insurer, the association may, in its discretion, and subject to any conditions imposed by th…

[Repealed or reserved.]

376.726. Nonpayment of premiums, effect of. — 1. Nonpayment of premiums within thirty-one days after the date required under the terms of any guaranteed, assumed, alternative or reissued policy or contract or substitute coverage shall terminate the association's obligations under…

376.728. Law not applicable, when. — The protection provided by sections 376.715 to 376.758 shall not apply where any guaranty protection is provided to residents of this state by the laws of the domiciliary state or jurisdiction of the impaired or insolvent insurer other than th…

376.730. Liens, association may impose, when. — In carrying out its duties under the provisions of sections 376.715 to 376.758, the association may, subject to approval by the court: (1) Impose permanent policy or contract liens in connection with any guarantee, assumption or rei…

376.732. Director to have association's powers and duties, when — association may appear in court, when. — 1. If the association fails to act within a reasonable period of time when authorized to do so, the director shall have the powers and duties of the association under sectio…

376.733. Assignment of rights to association by persons receiving benefits, when — subrogation rights. — 1. Any person receiving benefits under sections 376.715 to 376.758 shall be deemed to have assigned the rights under, and any causes of action against any person for losses ar…

376.734. Additional powers of association. — 1. In addition to any other rights and powers under sections 376.715 to 376.758, the association may: (1) Enter into such contracts as are necessary or proper to carry out the provisions and purposes of sections 376.715 to 376.758; (2)…

376.735. Assessments against members, when due, classes — amounts, how determined. — 1. For the purpose of providing the funds necessary to carry out the powers and duties of the association, the board of directors shall assess the member insurers, separately for each account, at…

376.737. Deferment of assessment, how, when — maximum assessment — refund of, when — members may increase premiums to cover assessments. — 1. The association may abate or defer, in whole or in part, the assessment of a member insurer if, in the opinion of the board, payment of th…

376.738. Certificate of contribution, when issued. — The association shall issue to each member insurer paying an assessment under the provisions of sections 376.715 to 376.758, other than class A assessment, a certificate of contribution, in a form prescribed by the director, fo…

376.740. Plan of operation, required, approval of director — provisions of plan. — 1. The association shall submit a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administration of the association to the director.…

376.742. Director, powers and duties. — 1. In addition to the duties and powers enumerated elsewhere in sections 376.715 to 376.758, the director shall: (1) Upon request of the board of directors, provide the association with a statement of the premiums in this and any other appr…

376.743. Board of directors, powers. — 1. The board of directors may, upon majority vote, make reports and recommendations to the director upon any matter germane to the solvency, liquidation, rehabilitation or conservation of any member insurer or germane to the solvency of any …

376.745. Assessments, offset against tax liability, when, how. — 1. A member insurer may offset against its premium tax liability to this state an assessment described in section 376.738 to the extent of twenty percent of the amount of such assessment for each of the five calenda…

376.746. Records of association meetings to be kept — association deemed creditor of insolvent or impaired insured. — 1. Nothing in sections 376.715 to 376.758 shall be construed to reduce the liability for unpaid assessments of the insureds of an impaired or insolvent insurer op…

376.747. Distribution of member insurer assets upon liquidation, priority of association. — 1. Prior to the termination of any liquidation, rehabilitation, or conservation proceeding, the court may take into consideration the contributions of the respective parties, including the…

376.748. Liquidation, recovery of distributions, when, exceptions, limitations. — 1. If an order for liquidation or rehabilitation of a member insurer domiciled in this state has been entered, the receiver appointed under such order shall have a right to recover on behalf of the …

376.750. Financial report, submitted to director, when — tax exempt status — immunity from liability. — 1. The association shall be subject to examination and regulation by the director. The board of directors shall submit to the director each year, not later than* one hundred tw…

376.752. Member insurer's deposit with director, exemption from, amount. — Any member insurer organized under the provisions of sections 376.010 to 376.670, or under any general or special laws of this state and transacting business of the character designated in section 376.010,…

376.754. Stay of proceedings, insolvent insurer, when. — All proceedings in which the insolvent insurer is a party in any court in this state shall be stayed sixty days from the date an order of liquidation, rehabilitation, or conservation is final to permit proper legal action b…

376.755. Advertising, use of guaranty association prohibited. — No person, including a member insurer, agent or affiliate of an insurer shall make, publish, disseminate, circulate, or place before the public, or cause directly or indirectly, to be made, published, disseminated, c…

376.756. Summary document, association to prepare, contents — policy not covered by guaranty association to contain notice, form determined by director. — 1. The association shall prepare a summary document describing the general purposes and current limitations of the act and co…

376.758. Law inapplicable to insolvent insurers on effective date of law. — 1. Sections 376.715 to 376.758 shall not apply to any insurer which is insolvent or unable to fulfill its contractual obligations on August 13, 1988. 2. Sections 376.715 to 376.758 shall be liberally cons…