Missouri Laws 325.010 – Definitions
As used in sections 325.010 to 325.055, unless the context clearly requires another meaning, the following words and phrases mean:
(1) “Director”, the director of the department of commerce and insurance;
Terms Used In Missouri Laws 325.010
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- 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.
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(2) “Public adjuster”, any person, partnership, association or corporation engaging in the adjustment or settlement of claims for losses or damages arising out of policies of fire or allied lines of insurances; but does not include persons, partnerships, associations or corporations engaged in the adjustment or settlement of claims for losses or damages arising out of other types of policies for casualty insurance; and does not include attorneys at law; and does not include an agent or employee of an issuer of policies of insurance against loss or damage by fire or allied casualty; nor to an insurance broker acting as an adjuster without compensation for a client for whom he is acting as broker;
(3) “Public adjuster solicitor”, any person, other than clerical employees, employed by a public adjuster who solicits or aids in securing any contract for adjustment for a public adjuster, or who acts for or with a public adjuster in making settlements or adjustments of claims.