Missouri · statute · Mo. Rev. Stat. ch. 380 · 61 active provisions
As used in this chapter, unless otherwise clearly indicated by the context, the following words mean: (1) "Department", the department of commerce and insurance; and (2) "Director", the director of the department of commerce and insurance.
1. All county mutual insurance companies, all town mutual insurance companies and all farmers' mutual insurance companies possessing a certificate of incorporation from the secretary of state and operating under sections 380.009 to 380.270, 380.280 to 380.470 and 380.479 to 380.570, respectively, shall be known as Miss…
1. All Missouri mutual insurance companies operating under the provisions of sections 380.011 to 380.151 shall be authorized to do the business of insurance on an assessable, mutual and not-for-profit basis. All such companies shall have authority to insure the property of their members from loss or damage caused by fi…
Any Missouri mutual insurance company operating under the provisions of sections 380.011 to 380.151 shall be exempt from all provisions of other insurance laws of this state unless such laws shall expressly declare that they are applicable to such Missouri mutual insurance companies.
1. Each Missouri mutual insurance company shall elect a board of at least five directors, each of whom shall be the owner of property insurance in the company. The directors shall be elected by a majority vote of the members voting at the annual meeting of the members for a term of not less than one year nor more than…
Every such company shall, on or before the first day of March in each year, file a statement with the director of the department of commerce and insurance, verified by the affidavit of its president and secretary reporting the financial condition of the company for the preceding calendar year. The statement of financia…
1. It shall be the duty of the director of the department of commerce and insurance or his duly appointed agents to make full and careful examination of the affairs of any company operating under the provisions of sections 380.011 to 380.151. The director shall examine such companies whenever, in his discretion, it is…
1. If it appears to the director of the department of commerce and insurance from a statement of any company filed pursuant to the provisions of section 380.051, or upon examination of any company made pursuant to the provisions of section 380.061, or from any other knowledge or information in his possession that such…
1. If at any time the director of the department of commerce and insurance shall find that a Missouri mutual insurance company is not operating in compliance with the provisions of sections 380.011 to 380.151, he shall notify in writing the officers and directors of such fact. The notice shall clearly set forth the dir…
1. All Missouri mutual insurance companies shall file all applications, policy forms and all endorsements, riders or amendments thereto with the director of the department of commerce and insurance. Those forms may be used upon filing unless disapproved by the director. The director may disapprove any form if it does n…
Any person shall be eligible to apply for membership in a Missouri mutual insurance company. Each policyholder of a Missouri mutual insurance company shall be a member of such company and any member of any Missouri mutual insurance company may sue the company the same as if he were not a member thereof.
All Missouri mutual insurance companies may accept as members any school district of this state, and may insure the real and personal property thereof as in the case of other members of the company. Any school district in this state may, by a two-thirds vote of the board of directors of the district, become a member of…
1. Each Missouri mutual insurance company may require the payment of a membership fee, the amount of which is to be determined by the board of directors, before issuing any policy. 2. Missouri mutual insurance companies may do business upon the basis of assessments alone or may do business upon a premium plus assessmen…
1. After receiving notice of any loss or damage to a member's property or after the rendition of any judgment against a company, the directors of a company operating solely on an assessment basis shall verify such loss, damage or judgment and shall assess each member an amount in proportion to the amount of risk such m…
Whenever any judgment is obtained in any of the courts of this state against any Missouri mutual insurance company doing business in this state under the provisions of sections 380.011 to 380.151, from which no appeal is taken, or if an appeal is taken and no appeal bond is given as in other cases of appeals in civil p…
Any two or more Missouri mutual insurance companies operating under the provisions of sections 380.011 to 380.151 may unite and become incorporated in one corporate body, with or without any dissolution or division of the funds of either corporation; or any such corporation may transfer its engagements, funds and prope…
As used in sections 380.201 to 380.601, unless the context clearly indicates otherwise, the following terms mean: (1) "Assessment", the amount, or the policyholder's share of such amount, determined by the company to be necessary to pay accrued liabilities, to meet or defray anticipated needs of the company and/or to a…
No company shall be incorporated under the provisions of sections 380.201 to 380.601 after January 1, 1985.
1. Any company operating under the provisions of sections 380.011 to 380.151 may avail itself of the rights, powers, privileges, obligations and immunities conferred by sections 380.201 to 380.591 by appropriate resolution to operate under sections 380.201 to 380.591 adopted by its board of directors and filed with the…
1. Any company operating under the provisions of sections 380.201 to 380.591 may do business throughout the state of Missouri but may not do business outside this state. The counties the company proposes to do business in shall be specified in its articles of incorporation and in the certificate of authority issued by…
1. The articles of incorporation may be amended by a two-thirds vote of the members voting at any meeting of members if members have been given not less than thirty days' notice of such meeting and proposed amendments. After the adoption of an amendment to the articles, a certificate of amendment shall be executed and…
1. No company shall deliver or issue for delivery in this state a policy, or any endorsement or rider thereto, until a copy of the form shall have been filed with and approved by the director. Upon the filing of any form with the director, such form shall be deemed approved by the director. The director shall thereafte…
A company operating under the provisions of sections 380.201 to 380.591 may make any one or more of the following kinds of insurance as defined subject to the provisions of this law: (1) Fire: Insurance against loss or damage to property including loss of rents, use and occupancy caused by (a) fire, smoke, smudge, ligh…
1. In order to commence or continue writing the classes of insurance enumerated in section 380.261, any company operating under the provisions of sections 380.201 to 380.591 shall comply with the following financial and reinsurance requirements: (1) To make fire insurance as described in section 380.261, a company shal…
Any two or more companies operating under the provisions of sections 380.201 to 380.591 may merge into one of the corporations; and companies operating under the provisions of sections 380.011 to 380.151 may merge into a corporation operating under sections 380.201 to 380.591 in the following manner: The board of direc…