Missouri Laws 375.033 – Termination of contract, notice — agent not to do business
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1. All contracts between an insurer and an independent insurance producer in effect in the state of Missouri on or after September 28, 1979, shall not be terminated or cancelled by the insurer except by mutual agreement or unless ninety days’ written notice in advance has been given to the independent insurance producer and the director of the department of commerce and insurance.
2. During the ninety days’ notice period the independent insurance producer shall not write or bind any new business on behalf of the insurer without specific written approval.
Terms Used In Missouri Laws 375.033
- Department: the department of commerce and insurance. See Missouri Laws 375.001
- Director: the director of the department of commerce and insurance. See Missouri Laws 375.001
- Insurer: all insurance companies, reciprocals, or interinsurance exchanges transacting the business of insurance in this state. See Missouri Laws 375.001
- 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