Missouri Laws 379.440 – Rating organization must be licensed — who may apply — content of application
1. No corporation, unincorporated association, partnership, or individual shall act as a rating organization in this state without first filing with the director of the department of commerce and insurance a written application for, and securing a license as, a rating organization for such kinds of insurance or subdivisions thereof as are specified in its application.
2. Any corporation, unincorporated association, partnership, or individual, whether located within or outside this state may make application for and obtain a license as a rating organization for such kinds of insurance or subdivision or class of risk or a part or combination thereof as are specified in its application, provided it shall meet the requirements for license set forth in sections 379.420 to 379.510.
Terms Used In Missouri Laws 379.440
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Department: the department of commerce and insurance. See Missouri Laws 379.005
- Director: the director of the department of commerce and insurance. See Missouri Laws 379.005
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
3. To obtain a license as a rating organization, every such corporation, unincorporated association, partnership or individual shall file therewith
(1) A copy of its constitution, its articles of agreement or association or its certificate of incorporation, and of its bylaws, rules and regulations governing the conduct of its business;
(2) A list of its members and subscribers;
(3) The name and address of a resident of this state upon whom notices or orders of the director of the department of commerce and insurance or process affecting such rating organization may be served; and
(4) A statement of its qualifications as a rating organization.