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Section: 384.0051 Insured to file report on surplus lines insurance not obtained through a broker--contents, when due--tax imposed, procedure to collect tax. RSMO 384.051


Published: 2015

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Missouri Revised Statutes













Chapter 384

Surplus Lines Insurance

←384.048

Section 384.051.1

384.054→

August 28, 2015

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

384.051. 1. Every insured whose home state is this state who

procures or causes to be procured or continues or renews insurance in any

surplus lines insurer, or any self-insurer whose home state is this state

who so procures or continues with, any surplus lines insurer, excess of

loss, catastrophe or other insurance, other than insurance procured through

a surplus lines broker pursuant to sections 384.011 to 384.071, shall

before March second of the year next succeeding the year in which the

insurance was so procured, continued or renewed, file a written report of

the same with the director on forms prescribed by the director and

furnished to such an insured upon request. 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 reasonably

requested by the director.



2. For the general support of the government of this state there is

levied upon the insured or self-insurer who procures insurance pursuant to

subsection 1 of this section a tax at the rate of five percent of the gross

amount of the premium. Before April sixteenth of the year next succeeding

the year in which the insurance was so procured, continued or renewed, the

insured shall remit to the department of revenue the amount of the tax.

The department of revenue shall notify the director of the sums collected

from each insured or self-insurer.



(L. 1987 H.B. 700 § 16 subsecs. 1 to 5, A.L. 1989 S.B. 250, A.L. 2009

H.B. 577, A.L. 2011 S.B. 132)



Effective 7-07-11





2009

1991



2009



384.051. 1. Every insured in this state who procures or causes to be

procured or continues or renews insurance in any surplus lines insurer, or

any self-insurer in this state who so procures or continues with, any surplus

lines insurer, excess of loss, catastrophe or other insurance, upon a subject

of insurance resident, located or to be performed within this state, other

than insurance procured through a surplus lines broker pursuant to sections

384.011 to 384.071, shall before March second of the year next succeeding the

year in which the insurance was so procured, continued or renewed, file a

written report of the same with the director on forms prescribed by the

director and furnished to such an insured upon request. 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 reasonably requested

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 this

section, a proper pro rata portion of the entire premium payable for all such

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 through negotiations

or an application in whole or in part occurring or made within or from within

this state, or for which premiums in whole or in part are remitted directly or

indirectly from within this state, shall be deemed to be insurance procured

or continued or renewed in this state within the intent of subsection 1 of

this section.



4. For the general support of the government of this state there is

levied upon the insured or self-insurer who procures insurance pursuant to

subsections 1 and 3 of this section a tax at the rate of five percent of the

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 the insurance

was so procured, continued or renewed, the insured shall remit to the

department of revenue the amount of the tax. The department of revenue shall

notify the director of the sums collected from each insured or self-insurer.



1991



384.051. 1. Every insured in this state who procures or

causes to be procured or continues or renews insurance in any

surplus lines insurer, or any self-insurer in this state who so

procures or continues with, any surplus lines insurer, excess of

loss, catastrophe or other insurance, upon a subject of insurance

resident, located or to be performed within this state, other

than insurance procured through a surplus lines broker pursuant

to sections 384.011 to 384.071, shall before March second of the

year next succeeding the year in which the insurance was so

procured, continued or renewed, file a written report of the same

with the director on forms prescribed by the director and

furnished to such an insured upon request. 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

reasonably requested 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 this section, a proper pro rata portion of the entire

premium payable for all such 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 through

negotiations or an application in whole or in part occurring or

made within or from within this state, or for which premiums in

whole or in part are remitted directly or indirectly from within

this state, shall be deemed to be insurance procured or continued

or renewed in this state within the intent of subsection 1 of

this section.



4. For the general support of the government of this state

there is levied upon the insured who procures insurance pursuant

to subsections 1 and 3 of this section a tax at the rate of five

percent of the 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 the insurance was so procured,

continued or renewed, the insured shall remit to the director the

amount of the tax. The director before June first of each year

shall certify and transmit to the director of revenue the sums so

collected.



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