Missouri Revised Statutes
Chapter 384 - Surplus Lines Insurance
Section 384.023 - Unlisted nonadmitted insurers may be used for coverage, when — requirements.

Effective - 28 Aug 2014
384.023. Unlisted nonadmitted insurers may be used for coverage, when — requirements. — Risk eligible for export may be placed with any other nonadmitted insurer which does not appear on the list of eligible surplus lines insurers published by the director pursuant to subdivision (2) of subsection 1 of section 384.021 but nonetheless meets the requirements set forth in subdivision (1) of subsection 1 of section 384.021 and related complying regulations of the director. The surplus lines licensee seeking to provide coverage through an unlisted nonadmitted insurer shall make a filing specifying the amount and percentage of each risk to be placed, and naming the nonadmitted insurer with which placement is intended and shall pay the tax due pursuant to section 384.059. Within twenty days after placing the coverage, the surplus lines licensee shall also send written notice to the insured or the producing broker that the insurance, or a portion thereof, has been placed with such nonadmitted insurer.
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(L. 1987 H.B. 700 § 4, A.L. 2014 H.B. 1361)

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Structure Missouri Revised Statutes

Missouri Revised Statutes

Title XXIV - Business and Financial Institutions

Chapter 384 - Surplus Lines Insurance

Section 384.011 - Title of law.

Section 384.015 - Definitions.

Section 384.017 - Nonadmitted insurers, purchases from allowed, when.

Section 384.018 - Nonadmitted insurer deemed domestic surplus lines insurer, when — domestic insurer deemed eligible surplus lines insurer, when — policies subject to taxation, when — exemption from certain statutory requirements, when — rulemaking a...

Section 384.021 - Nonadmitted insurers, limitation on furnishing coverage — exempt commercial purchaser, licensee exemptions.

Section 384.023 - Unlisted nonadmitted insurers may be used for coverage, when — requirements.

Section 384.025 - Ineligibility of nonadmitted insurer, grounds, when — notice to licensees.

Section 384.034 - Advisory organization may be formed, purposes — information to be filed — examination when, costs — hearing on report, when — violations, penalty.

Section 384.036 - Policy or certificate to be delivered to insured or broker — policies to indicate current status and any changes — violation, penalties.

Section 384.038 - Enforceability of contract.

Section 384.041 - Premium payment to licensee deemed payment to insurer.

Section 384.043 - Licensing requirements for insurance producers, fee — examination, exception — renewal, when, violation, effect — national database, participation in — rulemaking authority.

Section 384.045 - Licensees may originate or accept insurance from other licensees or brokers, compensation.

Section 384.048 - Records required to be kept by licensees — to be open to director — retention period.

Section 384.051 - Insured to file report on surplus lines insurance not obtained through a broker — contents, when due — tax imposed, procedure to collect tax.

Section 384.054 - Delinquent tax, penalty, interest.

Section 384.057 - Licensee to file annual statement, contents — report to director, contents.

Section 384.059 - Premium tax applicable to surplus lines, rate, payment — broker may charge tax to insured.

Section 384.061 - Premium tax to be levied only on entire gross premium for nonadmitted or surplus lines insurance policies.

Section 384.062 - Premium taxes collected by licensee but unpaid to department, actions authorized — taxes payable to department.

Section 384.065 - Revocation, suspension or refusal to renew license of licensee, grounds — notice — hearing.

Section 384.068 - Cause of action on contracts of insurance may be brought against insurer — policy to contain appropriate language — insurer deemed to have subjected himself to this section — service of process.

Section 384.071 - Violations, penalties.