Missouri Laws 375.1074 – Limitation on investments, domestic insurers
Current as of: 2023 | Check for updates
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Terms Used In Missouri Laws 375.1074
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Insurer: all insurance companies, reciprocals, or interinsurance exchanges transacting the business of insurance in this state. See Missouri Laws 375.001
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
Except as otherwise specified by Missouri law, no domestic insurer shall acquire an investment directly or indirectly through an investment subsidiary if, as a result of and after giving effect to the investment, the insurer would hold more than five percent of its admitted assets in the investments of all kinds issued, assumed, accepted, insured, or guaranteed by a single person.