374.202. Purpose of law--definitions. - Missouri Statutes

Purpose of law--definitions.

374.202. 1. The purpose of sections 374.202 to 374.207 is to providean effective and efficient system for examining the activities, operations,financial or market conduct, condition and affairs of all personstransacting the business of insurance in this state and all personsotherwise subject to the jurisdiction of the director. The provisions ofsections 374.202 to 374.207 are intended to enable the director to adopt aflexible system of examinations which directs resources as the director maydeem appropriate and necessary for the administration of theinsurance-related laws of this state.

2. As used in sections 374.202 to 374.207, the following terms mean:

(1) "Company", any person engaging in or proposing or attempting toengage in any transaction or kind of insurance or surety business and anyperson or group of persons who may otherwise be subject to theadministrative, regulatory or taxing authority of the director, notassigned to the functional regulation of the divisions of finance, creditunions, or professional registration, or boards assigned to or within thosedivisions;

(2) "Department", the department of insurance, financial institutionsand professional registration of this state;

(3) "Director", the director of the department of insurance,financial institutions and professional registration of this state;

(4) "Examiner", any individual or firm having been authorized by thedirector to conduct an examination under sections 374.202 to 374.207;

(5) "Insurer" has the same meaning as insurer under sections 375.1150to 375.1246, RSMo;

(6) "Person", any individual, aggregation of individuals, trust,association, partnership or corporation, or any affiliate thereof.

(L. 1992 H.B. 1574, A.L. 2008 S.B. 788)