Missouri Revised Statutes
Chapter 384
Surplus Lines Insurance
←384.059
Section 384.061.1
384.062→
August 28, 2015
Premium tax to be levied only on entire gross premium for nonadmitted or surplus lines insurance policies.
384.061. 1. Notwithstanding any other provision of this chapter or
regulation implementing a provision of this chapter, the five percent tax
on net premiums imposed by sections 384.051 and 384.059 shall be levied
upon and only upon the entire gross premium for nonadmitted or surplus
lines insurance policies for which the home state of the insured is
Missouri.
2. Notwithstanding any other provision of this chapter or regulation
implementing a provision of this chapter:
(1) The placement of nonadmitted insurance shall be subject to the
statutory and regulatory requirements of this chapter only if this state is
the insured's home state; and
(2) A surplus lines broker is required to be licensed as a surplus
lines licensee under the provisions of this chapter only if this state is
the insured's home state.
(L. 1989 S.B. 250, A.L. 2011 S.B. 132)
Effective 7-07-11
1991
1991
384.061. The five percent tax on net premiums imposed by sections 384.051
and 384.059 shall be levied only upon risks or portions of risks which are
located within this state. If a surplus lines policy covers risks only
partially located in this state, the tax payable shall be computed on the
portions of the premium properly allocable to that portion of the risks
located in this state and no Missouri tax shall be charged for that portion of
risk which is located outside of the state of Missouri.
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