Missouri Laws 384.057 – Licensee to file annual statement, contents — report to director, contents
1. Before March second of each year, each surplus lines broker shall report under oath to the director on forms prescribed by him or her a statement showing, with respect to the year ending the immediately preceding December thirty-first for nonadmitted insurance where the home state of the insured is this state:
(1) The gross amounts charged for surplus lines insurance, exclusive of sums collected for the payment of federal, state or local taxes;
Terms Used In Missouri Laws 384.057
- Director: the director of the department of commerce and insurance. See Missouri Laws 384.015
- home state: means , with respect to an insured:
a. See Missouri Laws 384.015
- Nonadmitted insurance: any property and casualty insurance permitted to be placed directly or through a surplus lines licensee with a nonadmitted insurer eligible to accept such insurance. See Missouri Laws 384.015
- Oath: A promise to tell the truth.
- 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
- Surplus: funds over and above liabilities and capital of the company for the protection of policyholders. See Missouri Laws 384.015
- Surplus lines insurance: any insurance of risks resident, located or to be performed in this state, permitted to be placed through a surplus lines licensee with a nonadmitted insurer eligible to accept such insurance, other than reinsurance, and life and health insurance and annuities. See Missouri Laws 384.015
(2) The amount of net premiums with respect to the insurance. For the purpose of this section, “net premiums” means the gross amount of charges for surplus lines insurance, exclusive of sums collected for the payment of federal, state and local taxes, less returned premiums.
2. No later than within forty-five days after the end of each calendar quarter ending March thirty-first, June thirtieth, September thirtieth, and December thirty-first each surplus lines broker shall report under oath to the director on forms prescribed by him or her a statement showing, with respect to each respective calendar quarter for nonadmitted insurance where the home state of the insured is this state:
(1) The gross amounts charged for surplus lines insurance, exclusive of sums collected for the payment of federal, state, or local taxes;
(2) The amount of net premiums with respect to the insurance. For the purpose of this section, “net premiums” means the gross amount of charges for surplus lines insurance, exclusive of sums collected for the payment of federal, state, and local taxes, less returned premiums.