Any material changes to a SPLRC's plan of operation shall require the prior written approval of the director. However, if initially approved in the plan of operation, the subsequent issuance of securities, additional financing, substitution of a party to a swap transaction with a party of similar rating or the inclusion of additional business under a SPLRC contract shall not be considered a material change.
Mo. Rev. Stat. § 379.1397
Changes in plan of operation, directors approval required
Known as the The Casualty and Surety Rate Regulatory Law
The act spans §§ 379–379 (298 sections).
Effective: 28 Aug 2007; (L. 2007 S.B. 215)
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.