382.110. Registration, form, contents, exempted matter. - Missouri Statutes

Registration, form, contents, exempted matter.

382.110. 1. Every insurer subject to registration shallfile a registration statement on a form provided by the directorcontaining current information about:

(1) The capital structure, general financial condition,ownership and management of the insurer and any personcontrolling the insurer;

(2) The identity of every member of the insurance holdingcompany system;

(3) The following agreements in force, relationshipssubsisting, and transactions currently outstanding between theinsurer and its affiliates:

(a) Loans, other investments, or purchases, sales orexchanges of securities of the affiliates by the insurer or ofthe insurer by its affiliates;

(b) Purchases, sales, or exchanges of assets;

(c) Transactions not in the ordinary course of business;

(d) Guarantees or undertakings for the benefit of anaffiliate which result in an actual contingent exposure of theinsurer's assets to liability, other than insurance contractsentered into in the ordinary course of the insurer's business;

(e) All management and service contracts and allcost-sharing arrangements; and

(f) Reinsurance agreements;

(g) Dividends and other distributions to shareholders; and

(h) Consolidated tax allocation agreements;

(4) Any pledge of the insurer's stock, including stock ofany subsidiary or controlling affiliate, for a loan made to anymember of the insurance holding company system; and

(5) Other matters concerning transactions betweenregistered insurers and any affiliates as may be included fromtime to time in any registration forms adopted or approved by thedirector.

2. All registration statements shall contain a summaryoutlining all items in the current registration statementrepresenting changes from the prior registration statement.

3. No information need be disclosed on the registrationstatement filed pursuant to subsection 1 of this section if suchinformation is not material for the purposes of that subsection.Unless the director by rule, regulation or order providesotherwise, sales, purchases, exchanges, loans or extensions ofcredit, or investments, involving one-half of one percent or lessof an insurer's admitted assets as of the thirty-first day ofDecember next preceding shall not be deemed material for purposesof subsection 1 of this section.

4. Any person within an insurance holding company systemsubject to registration shall be required to provide complete andaccurate information to an insurer, where such information isreasonably necessary to enable the insurer to comply with theprovisions of sections 382.010 to 382.300.

(L. 1971 S.B. 101 §§ 13, 14, A.L. 1992 H.B. 1574)