378.626. Statement of financial condition, contents, filing--penalty.
Statement of financial condition, contents, filing--penalty.
378.626. 1. Every society transacting business in thisstate shall annually, on or before the first day of March, unlessfor good cause shown such time has been extended by the director,file with the director a true statement of its financialcondition, transactions and affairs for the preceding calendaryear and pay the required fee for filing same. The statementshall be in general form and context as approved by the NationalAssociation of Insurance Commissioners for fraternal benefitsocieties and as supplemented by additional information requiredby the director.
2. As part of the annual statement herein required, eachsociety shall, on or before the first day of March, file with thedirector a valuation of its certificates in force on Decemberthirty-first last preceding, provided the director may, in hisdiscretion for cause shown, extend the time for filing suchvaluation for not more than two calendar months. Such valuationshall be done in accordance with the standards specified insection 378.625. Such valuation and underlying date shall becertified by a qualified actuary or, at the expense of thesociety, verified by an actuary of the insurance regulatoryagency of the state of domicile of the society.
3. A society neglecting to file the annual statement in theform and within the time provided by this section may be subjectto a fine of one hundred dollars for each day during which suchneglect continues, and its authority to do business in this statemay be suspended by the director while such default continues.
(L. 1992 S.B. 831)Effective 1-1-93