303.412. Reporting by insurance companies, frequency, required information--revenue to notify department of violation, penalty, exceptions.

MISSOURI STATUTES AND CODES

303.412. Reporting by insurance companies, frequency, required information--revenue to notify department of violation, penalty, exceptions.

Reporting by insurance companies, frequency, requiredinformation--revenue to notify department of violation, penalty,exceptions.

303.412. 1. Beginning March 1, 2003, before the seventh working date ofeach calendar month, all licensed insurance companies in this state shallprovide to the designated agent a record of all policies in effect on the lastday of the preceding month. This subsection shall not prohibit more frequentreporting.

2. The record pursuant to subsection 1 of this section shall include thefollowing:

(1) The name, date of birth, driver's license number and address of eachinsured;

(2) The make, year and vehicle identification number of each insuredmotor vehicle;

(3) The policy number and effective date of the policy.

3. The department of revenue shall notify the department of insurance,financial institutions and professional registration of any insurer whoviolates any provisions of this act. The department of insurance, financialinstitutions and professional registration may, against any insurer who failsto comply with this section, assess a fine not greater than one thousanddollars per day of noncompliance. The department of revenue may assess a finenot greater than one thousand dollars per day against the designated agent forfailure to complete the project by the dates designated in sections 303.400 to303.415 unless the delay is deemed beyond the control of the designated agentor the designated agent provides acceptable proof that such a noncompliancewas inadvertent, accidental or the result of excusable neglect. Thedepartment of insurance, financial institutions and professional registrationshall excuse the fine against any insurer if an assessed insurer providesacceptable proof that such insurer's noncompliance was inadvertent, accidentalor the result of excusable neglect.