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Mo. Rev. Stat. § 384.061

Premium tax to be levied only on entire gross premium for nonadmitted or..

Known as the The Missouri Surplus Lines Law

The act spans §§ 384–384 (23 sections).

Effective: 07 Jul 2011, see footnote; (L. 1989 S.B. 250, A.L. 2011 S.B. 132)

1. Notwithstanding any other provision of this chapter or regulation implementing a provision of this chapter, the five percent tax on net premiums imposed by sections 384.051 and 384.059 shall be levied upon and only upon the entire gross premium for nonadmitted or surplus lines insurance policies for which the home state of the insured is Missouri.

2. Notwithstanding any other provision of this chapter or regulation implementing a provision of this chapter:

(1) The placement of nonadmitted insurance shall be subject to the statutory and regulatory requirements of this chapter only if this state is the insured's home state; and

(2) A surplus lines broker is required to be licensed as a surplus lines licensee under the provisions of this chapter only if this state is the insured's home state.

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