Missouri Laws 379.445 – Requirements to obtain and retain license
To obtain and retain a license, a rating organization shall provide satisfactory evidence to the director of the department of commerce and insurance that it will
(1) Permit any licensed insurer to become a subscriber to such rating organization or withdraw therefrom without obligation to adhere to its manual of classifications, rules and rates or rating plans or systems;
Terms Used In Missouri Laws 379.445
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- 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
(2) Neither adopt any rule nor exact any agreement the effect of which would be to prohibit or regulate the payment of dividends, savings or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members or subscribers. A plan for the payment of dividends, savings or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members or subscribers shall not be deemed to be a rating plan or system;
(3) Neither practice nor sanction any plan or act of boycott, coercion or intimidation;
(4) Neither enter into nor sanction any contract or act by which any person is restrained from lawfully engaging in the insurance business;
(5) Submit to examination as prescribed by section 379.475;
(6) Notify the director of the department of commerce and insurance promptly of every change in its constitution, its articles of agreement or association, or its articles of incorporation and of its bylaws, rules and regulations governing the conduct of its business; its list of members and subscribers; and the name and address of the resident of this state designated by it upon whom notices or orders of the director or process affecting such organization may be served.