Missouri Laws 364.100 – Definitions
As used in sections 364.100 to 364.160, the following terms shall mean:
(1) “Director”, the director of the division of finance of the state of Missouri;
Terms Used In Missouri Laws 364.100
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Director: the office of the director of the division of finance. See Missouri Laws 364.020
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- 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.
- Person: an individual, partnership, corporation, association, and any other group however organized. See Missouri Laws 364.020
- 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) “Person”, an individual, partnership, association, business corporation, nonprofit corporation, common law trust, joint-stock company, or any other group of individuals, however organized;
(3) “Premium finance agreement”, an agreement by which an insured or prospective insured promises to pay to a premium finance company the amount advanced or to be advanced to an insurer or to an insurance agent or broker in payment of premiums of an insurance contract together with interest or discount and a service charge, as authorized and limited by sections 364.100 to 364.160;
(4) “Premium finance company”, a person engaged in the business of entering into premium finance agreements or acquiring premium finance agreements from other premium finance companies.