367.170. Regulations--authority of director--insurance--premiums deemed not to be charges. - Missouri Statutes

Regulations--authority of director--insurance--premiums deemed not tobe charges.

367.170. The director is authorized and empowered to make such generalregulations as may be necessary for the enforcement of sections 367.100 to367.200 and shall issue regulations providing and governing the types andlimits of insurance and the issuance of policies which may be sold inconnection with consumer credit loans. The cost of any insurance shall notexceed the standard rates and the insurance shall be obtained from aninsurance company duly authorized to conduct business in this state and theregistrant, or any of its employees, may be licensed as an insurance agent.Insurance premiums shall not be considered as interest, service charges orfees in connection with any loan. Each such regulation shall be consistentwith sections 367.100 to 367.200 and shall be referenced to the specificprovision of sections 367.100 to 367.200 which is to be enforced by it.Nothing in this section shall alter or amend the statutes of this staterelating to insurance or affect the powers of the director of the departmentof insurance, financial institutions and professional registration understatutes relating to credit life insurance and credit accident and healthinsurance.

(L. 1951 p. 262 § 8, A.L. 1984 S.B. 686 § 367.170 subsec. 1)