354.085. Membership contract forms, approval by director, when--time for filing--time for disapproval. - Missouri Statutes

Membership contract forms, approval by director, when--time forfiling--time for disapproval.

354.085. No corporation subject to the provisions of sections 354.010 to354.380 shall deliver or issue for delivery in this state a form of membershipcontract, or any endorsement or rider thereto, until a copy of the form shallhave been approved by the director. The director shall not approve any policyforms which are not in compliance with the provisions of sections 354.010 to354.380 of this state, or which contain any provision which is deceptive,ambiguous or misleading, or which do not contain such words, phraseology,conditions and provisions which are specific, certain and reasonably adequateto meet needed requirements for the protection of those insured. If a policyform is disapproved, the reasons therefor shall be stated in writing; ahearing shall be granted upon such disapproval, if so requested; provided,however, that such hearing shall be held no sooner than fifteen days followingthe request. The failure of the director of the department of insurance,financial institutions and professional registration to take action approvingor disapproving a submitted policy form within forty-five days from the dateof filing shall be deemed an approval thereof. The director shall notdisapprove any deemed policy form for a period of twelve months thereafter.If at any time during that twelve-month period the director determines thatany provision of the deemed policy form is contrary to state law, the directorshall notify the health services corporation of the specific provision that iscontrary to state law, and any specific statute to which the provision iscontrary to, and request that the health services corporation file, withinthirty days of receipt of the request, an amendment form that modifies theprovision to conform to state law. Upon approval of the amendment form by thedirector, the health services corporation shall issue a copy of the amendmentto each individual and entity to which the deemed policy form was previouslyissued and shall attach a copy of the amendment to the deemed policy form whenit is subsequently issued. Such amendment shall have the force and effect asif the amendment was in the original filing or policy. The director of the department of insurance, financial institutions andprofessional registration shall have authority to make such reasonable rulesand regulations concerning the filing and submission of such policy forms asare necessary, proper or advisable.

(L. 1973 S.B. 3 § 16, A.L. 1983 H.B. 127, A.L. 2003 H.B. 121)