Missouri Laws 375.1282 – Application of law — not applicable, when
1. Sections 375.1280 to 375.1295 apply to any insurer authorized in this state which either assumes or transfers the obligations or risks on contracts of insurance owned by policyholders pursuant to an assumption reinsurance agreement.
2. Sections 375.1280 to 375.1295 do not apply to:
Terms Used In Missouri Laws 375.1282
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Statute: A law passed by a legislature.
(1) Any reinsurance agreement or transaction in which the ceding insurer continues to remain directly liable for its insurance obligations or risks under the contracts of insurance subject to the reinsurance agreement;
(2) The substitution of one insurer for another upon the expiration of insurance coverage pursuant to statutory or contractual requirements and the issuance of a new contract of insurance by another insurer;
(3) The transfer of contracts of insurance pursuant to mergers or consolidations of two or more insurers to the extent that those transactions are regulated by statute;
(4) Any insurer subject to a judicial order of liquidation or rehabilitation; or
(5) Any reinsurance agreement or transaction to which a state insurance guaranty association is a party.