375.158. Insurer shall comply with all insurance laws before doing business--commissions paid, to whom. - Missouri Statutes

Insurer shall comply with all insurance laws before doingbusiness--commissions paid, to whom.

375.158. 1. No insurer shall engage in the business of insurance inthis state without first complying with all the provisions of the laws ofthis state governing the business of insurance.

2. No insurer organized or incorporated under the laws of this stateshall undertake any business or risk except as provided by those laws. Noinsurer organized or incorporated by or under the laws of this state or anyother state of the United States or any foreign government, transacting thebusiness of life insurance, shall be permitted or allowed to take any otherkind of risks except those connected with or pertaining to making assuranceon the life of a human being and the granting, purchasing and disposing ofannuities and endowments, and the making of insurance against accident andsickness to persons by life or health or life and health insurers asprovided in sections 376.010 and 376.309, RSMo.

3. No insurer doing business in this state shall pay any commissionor other compensation to any person or entity for any services, asinsurance producer, in obtaining in this state any contract of insuranceexcept to a licensed insurance producer of the insurer and a licensedbusiness entity insurance producer.

(RSMo 1939 § 6004; L. 1965 p. 569, A.L. 1967 p. 516, A.L. 1993 H.B. 709, A.L. 2001 S.B. 193)

Effective 1-01-03