384.051. Insured to file report on surplus lines insurance not obtained through a broker--contents, when due--tax imposed, procedure to collect tax.

MISSOURI STATUTES AND CODES

384.051. Insured to file report on surplus lines insurance not obtained through a broker--contents, when due--tax imposed, procedure to collect tax.

Insured to file report on surplus lines insurance not obtained througha broker--contents, when due--tax imposed, procedure to collecttax.

384.051. 1. Every insured in this state who procures or causes to beprocured or continues or renews insurance in any surplus lines insurer, orany self-insurer in this state who so procures or continues with, anysurplus lines insurer, excess of loss, catastrophe or other insurance, upona subject of insurance resident, located or to be performed within thisstate, other than insurance procured through a surplus lines brokerpursuant to sections 384.011 to 384.071, shall before March second of theyear next succeeding the year in which the insurance was so procured,continued or renewed, file a written report of the same with the directoron forms prescribed by the director and furnished to such an insured uponrequest. The report shall show:

(1) The name and address of the insured or insureds;

(2) The name and address of the insurer or insurers;

(3) The subject of the insurance;

(4) A general description of the coverage;

(5) The amount of premium currently charged therefor;

(6) Such additional pertinent information as may be reasonablyrequested by the director.

2. If any such insurance covers also a subject of insurance resident,located or to be performed outside this state, for the purposes of thissection, a proper pro rata portion of the entire premium payable for allsuch insurance shall be allocated as to the subjects of insurance resident,located or to be performed in this state.

3. Any insurance in a surplus lines insurer procured throughnegotiations or an application in whole or in part occurring or made withinor from within this state, or for which premiums in whole or in part areremitted directly or indirectly from within this state, shall be deemed tobe insurance procured or continued or renewed in this state within theintent of subsection 1 of this section.

4. For the general support of the government of this state there islevied upon the insured or self-insurer who procures insurance pursuant tosubsections 1 and 3 of this section a tax at the rate of five percent ofthe net amount of the premium in respect of risks located in this state.Before April sixteenth of the year next succeeding the year in which theinsurance was so procured, continued or renewed, the insured shall remit tothe department of revenue the amount of the tax. The department of revenueshall notify the director of the sums collected from each insured orself-insurer.