Missouri Laws 375.031 – Definitions
As used in sections 375.031 to 375.039, the following words and terms mean:
(1) “Director”, the director of the department of commerce and insurance;
Terms Used In Missouri Laws 375.031
- 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.
- Department: the department of commerce and insurance. See Missouri Laws 375.001
- Director: the director of the department of commerce and insurance. See Missouri Laws 375.001
- 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
- Insurer: all insurance companies, reciprocals, or interinsurance exchanges transacting the business of insurance in this state. See Missouri Laws 375.001
- 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.
- Property: includes real and personal property. 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) “Exclusive insurance producer”, any licensed insurance producer whose contract with an insurer requires the insurance producer to act as an agent only for that insurer or a group of insurers under common ownership or control or other insurers authorized by that insurer;
(3) “Independent insurance producer”, any licensed insurance producer representing an insurance company as an independent contractor and not as an employee, or any individual, partnership or corporation transacting business with the public or insurance companies as an agent is an independent insurance producer, but shall not include an exclusive insurance producer;
(4) “Insurer”, any property and casualty insurance company doing business in the state of Missouri.