Mo. Code Regs. tit. 20 § 200-20.030
Current through Register Vol. 49, No. 24, December 16, 2024
Section 20 CSR 200-20.030 - AdmissionPURPOSE: This amendment clarifies and simplifies the rule.
(1) Application and Fees. Application for admission as a captive insurance company will contain the information outlined in sections 379.1300 to 379.1350 or 379.1353 to 379.1421, RSMo by filing with the director- (A) Initial Admission: 1. A completed Form CI-1;2. A license fee of seven thousand five hundred dollars ($7,500) for a company; and3. An application fee of ten thousand dollars ($10,000) for a special purpose life reinsurance captive;(B) Renewal: 1. All annual reports due at the time of renewal pursuant to sections 379.1300 to 379.1350, RSMo and rule 20 CSR 200-20.040; and2. An annual renewal fee of seven thousand five hundred dollars ($7,500).(2) Organizational Examination. In addition to processing of the application, an organizational investigation or examination may be performed before an applicant is admitted. Such investigation or examination may consist of a general survey of the company's corporate records, including charter, bylaws, and minute books; verification of capital and surplus; verification of principal place of business; determination of assets and liabilities; and a review of such other factors as the director deems necessary.(3) Change of Business. Any change in the nature of the captive business from that stated in the company's plan of operation filed with the director upon application requires prior approval from the director. Any change in any other information filed with the application requires only an informational filing with the director. AUTHORITY: section 374.045, RSMo 2000 and sections 379.1328 and 379.1421, RSMo Supp. 2007.* Original rule filed Nov. 15, 2007, effective June 30, 2008. Amended by Missouri Register April 15, 2019/Volume 44, Number 8, effective 5/31/2019*Original authority: 374.045, RSMo 1967, amended 1993, 1995; 379.1328, RSMo 2007; and 379.1421, RSMo 2007.