Missouri Laws 379.435 – Rating organization defined
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Terms Used In Missouri Laws 379.435
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
Any corporation, unincorporated association, partnership, or individual, other than a licensed insurer, which has as its or his object or purpose the making of rates, rating plans, or rating systems shall be known as a “rating organization” and may, subject to the provisions of sections 379.420 to 379.510, conduct such operations in the state of Missouri. No insurer shall be deemed to be a rating organization.