383.010. Authority to form business entity to provide malpractice insurance--nonresidents may be members, when. - Missouri Statutes

Authority to form business entity to provide malpracticeinsurance--nonresidents may be members, when.

383.010. 1. Notwithstanding any direct or implied prohibitions inchapter 375, 377, or 379, RSMo, any three or more persons, residents ofthis state, being licensed under the provisions of chapter 330, 331, 332,334, 335, 336, 338 or 339, RSMo, or under rule 8 of the supreme court ofMissouri or architects licensed pursuant to chapter 327, RSMo, may, asprovided in sections 383.010 to 383.040, form a business entity for thepurpose of providing malpractice insurance or indemnification for suchpersons upon the assessment plan, and upon compliance with section 379.260,RSMo, liability and automobile insurance as defined in subdivisions (1) and(3) of section 379.230, RSMo, may be provided upon the assessment plan tothose persons licensed pursuant to chapter 197, RSMo, and for whom medicalmalpractice insurance is provided under this section, except thatautomobile insurance shall be provided only for ambulances as defined insection 190.100, RSMo. Any entity licensed under chapter 197, RSMo,professional corporations, and limited liability companies, corporations,limited liability partnerships, partnerships, and other similar entitiesformed for the practice of law or medicine may also become members of anysuch entity. The term "persons" as used in sections 383.010 to 383.040includes such hospitals, professional corporations and real estate businessentities.

2. Anything in this section to the contrary notwithstanding, anypersons duly licensed under the provisions of the laws of any other statewho, if licensed under any similar provisions of the laws of this state,would be eligible to become members and insureds of an entity created underthe authority of this section may become members and insureds of such anentity, irrespective of whether such persons are residents of this state;provided, however, that any such persons must be employed by, or be apartner, shareholder or member of, a professional corporation, corporation,copartnership or association insured by or to be insured by such an entity.

3. Notwithstanding any provision of law which might be construed tothe contrary, sections 379.882 and 379.888, RSMo, defining commercialcasualty insurance, shall not include professional malpractice insurancepolicies issued by any insurer in this state.

(L. 1975 S.B. 458 § 1, A.L. 1977 S.B. 245, A.L. 1978 S.B. 744, A.L. 1985 H.B. 657 & 337, A.L. 1986 H.B. 1392, A.L. 1989 H.B. 774, A.L. 1990 H.B. 1739, A.L. 2006 H.B. 1837)