375.1282. Application of law--not applicable, when. - Missouri Statutes

Application of law--not applicable, when.

375.1282. 1. Sections 375.1280 to 375.1295 apply to anyinsurer authorized in this state which either assumes ortransfers the obligations or risks on contracts of insuranceowned by policyholders pursuant to an assumption reinsuranceagreement.

2. Sections 375.1280 to 375.1295 do not apply to:

(1) Any reinsurance agreement or transaction in which theceding insurer continues to remain directly liable for itsinsurance obligations or risks under the contracts of insurancesubject to the reinsurance agreement;

(2) The substitution of one insurer for another upon theexpiration of insurance coverage pursuant to statutory orcontractual requirements and the issuance of a new contract ofinsurance by another insurer;

(3) The transfer of contracts of insurance pursuant tomergers or consolidations of two or more insurers to the extentthat those transactions are regulated by statute;

(4) Any insurer subject to a judicial order of liquidationor rehabilitation; or

(5) Any reinsurance agreement or transaction to which astate insurance guaranty association is a party.

(L. 1993 H.B. 709 § 14)