379.1340. Branch captive may be established, when. - Missouri Statutes

Branch captive may be established, when.

379.1340. 1. A branch captive may be established in this state inaccordance with the provisions of sections 379.1300 to 379.1350 to writeinsurance, including insurance or reinsurance of the employee benefitbusiness of its parent and affiliated companies which is subject to theprovisions of the federal Employee Retirement Income Security Act of 1974,as amended. In addition to the general provisions of sections 379.1300 to379.1350, the provisions of sections 379.1340 to 379.1350 shall apply tobranch captive insurance companies.

2. No branch captive insurance company shall do any insurancebusiness in this state unless it maintains the principal place of businessfor its branch operations in this state.

(L. 2007 S.B. 215)