Mo. Code Regs. tit. 20 § 700-1.005

Current through Register Vol. 49, No. 21, November 1, 2024.

Section 20 CSR 700-1.005 - Scope and Definitions

PURPOSE: The amendment to this rule removes unnecessary language that is duplicative of statutory provisions and updates the statutory authority for this rule.

(1) Applicability of Rules. The rules in this chapter apply to insurance producers transacting business in this state including those licensed under section 375018., RSMo.

(2) Definitions.

(A) "Cash premium payment," a premium payment made in the form of currency.

(B) "Certificate of Authority," the whole or part of any certificate of approval or charter granted by the director for any insurance company, insurer, association, health services corporation, health maintenance organization, or other legal entity insuring risk.

(C) "ERISA," the Employee Retirement and Income Security Act of 1974 ( 29 USC Section 1101 et seq.).

(D) "FINRA," the Financial Industry Regulatory Authority.

(E) "Licensee," a person licensed by Missouri to act as an insurance producer.

(F) "NAIC," the National Association of Insurance Commissioners.

(G) "NIPR," the National Insurance Producer Registry.

(H) "Personal insurance policy," any liability or risk-assuming policy, contract, subscriber agreement, rider, or endorsement delivered or issued for delivery in this state by an insurer, for the purpose of providing personal, noncommercial insurance coverage to an individual or family on a nongroup basis, including individual or family automobile, homeowners, life, annuity, health, property, or casualty coverage.

20 CSR 700-1.005

AUTHORITY: section 374.045, RSMo 2000.* Original rule filed Nov. 30, 2007, effective July 30, 2008.

Amended by Missouri Register August 1, 2019/Volume 44, Number 15, effective 9/30/2019

*Original authority: 374.045, RSMo 1967, amended 1993, 1995.