382.400. Definitions.

Definitions.

382.400. As used in sections 382.400 to 382.409, the following termsmean:

(1) "Accredited state", a state in which the insurance department orregulatory agency has qualified as meeting the minimum financial regulatorystandards promulgated and established from time to time by the NationalAssociation of Insurance Commissioners;

(2) "Control" or "controlled" has the meaning prescribed by section382.010;

(3) "Controlled insurer", a licensed insurer which is controlled,directly or indirectly, by a producer;

(4) "Controlling producer", a producer who, directly or indirectly,controls an insurer;

(5) "Licensed insurer" or "insurer", any person, firm, association orcorporation duly licensed to transact a property or casualty insurancebusiness in this state. The following are not licensed insurers for thepurposes of sections 382.400 to 382.410*:

(a) All risk retention groups as defined in the federal SuperfundAmendments Reauthorization Act of 1986, as amended, and the federal RiskRetention Act, 15 U.S.C. Section 3901, et seq., as amended, and sections375.1080 to 375.1105, RSMo;

(b) All residual market pools and joint underwriting authorities orassociations; and

(c) All captive insurers. For the purposes of sections 382.400 to382.410*, "captive insurers" are insurance companies owned by anotherorganization whose exclusive purpose is to insure risks of the parentorganization and affiliated companies or, in the case of groups andassociations, insurance organizations owned by the insureds whose exclusivepurpose is to insure risks to member organizations and group members andtheir affiliates;

(6) "Producer", an insurance broker or brokers or any other person,firm, association, or corporation, when, for any compensation, commission,or other thing of value, the person, firm, association, or corporation actsor aids in any manner in soliciting, negotiating, or procuring the makingof an insurance contract on behalf of an insured other than the person,firm, association, or corporation.

(L. 1992 H.B. 1574 § 7, A.L. 2009 H.B. 577)

*Section 382.410 was repealed by S.B. 613 Revision § A, 2007.