287.967. Advisory organization must obtain license, restrictions--license, application--designation of by director, duration.

MISSOURI STATUTES AND CODES

287.967. Advisory organization must obtain license, restrictions--license, application--designation of by director, duration.

Advisory organization must obtain license, restrictions--license,application--designation of by director, duration.

287.967. 1. The advisory organization shall not provideany service relating to the rates of any insurance subject tosections 287.930 to 287.975, and no insurer shall use theservices of such organization for such purposes unless theorganization has obtained a license under subsection 3 of thissection.

2. The advisory organization shall not refuse to supply anyservices for which it is licensed in this state to any insurerauthorized to do business in this state and offering to pay thefair and usual compensation for the services.

3. An organization applying for the license for designationas the advisory organization shall include with its application:

(1) A copy of its constitution; charter; articles oforganization, agreement, association or incorporation; and a copyof its bylaws, plan of operation, and any other rules orregulations governing the conduct of its business;

(2) A list of its members and subscribers;

(3) The name and address of one or more residents of thisstate upon whom notices, process affecting it, or orders of thedirector may be served;

(4) A statement showing its technical qualifications foracting in the capacity for which it seeks a license; and

(5) Any other relevant information and documents that thedirector may require.

4. Every organization which has applied for the licenseshall notify the director of every material change in the factsor in the documents on which its application was based. Anyamendment to a document filed under this section shall be filedat least thirty days before it becomes effective.

5. The director, upon a finding that an applicant and theindividuals through whom it acts are competent, trustworthy andtechnically qualified to provide the services proposed, and thatall requirements of law are met, shall issue one license todesignate the advisory organization which specifies theauthorized activity of the applicant. The director shall notissue the license if the proposed activity would tend to create amonopoly or to substantially lessen competition in the market.

6. The license issued pursuant to this section shall remainin effect until the licensee withdraws from the state or untilthe license is suspended or revoked. The director may at anytime, after hearing, revoke or suspend the license of theadvisory organization if it does not comply with the requirementsand standards of sections 287.930 to 287.975.