374.162. Insurance examiners fund, established--assessments against insurer, how determined, when. - Missouri Statutes

Insurance examiners fund, established--assessments against insurer,how determined, when.

374.162. 1. There is hereby established a fund for theexamination expenses to be paid pursuant to section 374.160, tobe known as the "Insurance Examiners Fund". There shall be anamount assessed against all insurers, health servicescorporations and health maintenance organizations which areengaged in the business of insurance within this state in orderto provide initial funding for the insurance examiners fund. Theassessment shall be made between August 28, 1991, and December31, 1991, in the total amount of four hundred thousand dollars.The assessment of each such insurer, health services corporationand health maintenance organization shall be proportionate to theamount of premiums or enrollment fees received in this state bythe insurer, health services corporation or health maintenanceorganization during calendar year 1990, is to the total amount ofpremiums and enrollment fees received in this state by all suchentities during calendar year 1990.

2. The director may make an assessment between August 28,1993, and June 30, 1994, of each insurer, health servicescorporation and health maintenance organization to provide aminimum balance in the insurance examiners fund. The totalamount of all assessments made pursuant to this subsection shallnot exceed four hundred thousand dollars. Such assessments shallbe proportionate to the amount of premiums or enrollment feesreceived by such insurer, health services corporation, or healthmaintenance organization during the calendar year 1992 to thetotal amount of premiums and enrollment fees received in thisstate by all such entities during calendar year 1992, except thatthe total amount of all assessments on each insurer, healthservices corporation or health maintenance organization shall beat least two hundred fifty dollars and shall not exceed twothousand dollars.

(L. 1991 H.B. 385, et al. § 1, A.L. 1993 H.B. 709)