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Mo. Rev. Stat. § 375.1122

Insurer's use of broker, restrictions — financial condition statement required

Known as the Insurance Producers Act

The act spans §§ 375–375 (383 sections).

Effective: 01 Jul 1992, see footnote; (L. 1991 H.B. 385, et al. § 42)

1. An insurer shall not engage the services of any person, firm, association or corporation to act as an RB on its behalf, unless such person is licensed as required by subsection 1 of section 375.1115.

2. An insurer may not employ an individual who is employed by an RB with which it transacts business, unless such RB is under common control with the insurer and subject to the provisions of chapter 382.

3. The insurer shall annually obtain a copy of statements of the financial condition of each RB with which it transacts business.

Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.