375.148. Managing general agents must be licensed producers--risks located outside state--requirements--bond may be required, also errors and omissions policy.

MISSOURI STATUTES AND CODES

375.148. Managing general agents must be licensed producers--risks located outside state--requirements--bond may be required, also errors and omissions policy.

Managing general agents must be licensed producers--risks locatedoutside state--requirements--bond may be required, also errors andomissions policy.

375.148. 1. No person, firm, association or corporationshall act in the capacity of a managing general agent withrespect to risks located in this state for an insurer licensed inthis state unless such person is a licensed producer in thisstate.

2. No person, firm, association or corporation shall act inthe capacity of a managing general agent representing an insurerdomiciled in this state with respect to risks located outsidethis state unless such person is licensed as a producer in thisstate pursuant to the provisions of sections 375.147 to 375.153.Such license may be a nonresident license.

3. The director may require a bond in an amount acceptableto him for the protection of the insurer.

4. The director may require the managing general agent tomaintain an appropriate errors and omissions policy for theprotection of any person, firm, association or corporation whichmay be affected by the activities of the managing general agent.