379.445. Requirements to obtain and retain license. - Missouri Statutes

Requirements to obtain and retain license.

379.445. To obtain and retain a license, a rating organization shallprovide satisfactory evidence to the director of the department of insurance,financial institutions and professional registration that it will

(1) Permit any licensed insurer to become a subscriber to such ratingorganization or withdraw therefrom without obligation to adhere to its manualof classifications, rules and rates or rating plans or systems;

(2) Neither adopt any rule nor exact any agreement the effect of whichwould be to prohibit or regulate the payment of dividends, savings orunabsorbed premium deposits allowed or returned by insurers to theirpolicyholders, members or subscribers. A plan for the payment of dividends,savings or unabsorbed premium deposits allowed or returned by insurers totheir policyholders, members or subscribers shall not be deemed to be a ratingplan or system;

(3) Neither practice nor sanction any plan or act of boycott, coercionor intimidation;

(4) Neither enter into nor sanction any contract or act by which anyperson is restrained from lawfully engaging in the insurance business;

(5) Submit to examination as prescribed by section 379.475;

(6) Notify the director of the department of insurance, financialinstitutions and professional registration promptly of every change in itsconstitution, its articles of agreement or association, or its articles ofincorporation and of its bylaws, rules and regulations governing the conductof its business; its list of members and subscribers; and the name and addressof the resident of this state designated by it upon whom notices or orders ofthe director or process affecting such organization may be served.

(L. 1947 V. II p. 254 § 3)