SECOND REGULAR SESSION
SENATE BILL NO. 861
90TH GENERAL ASSEMBLY
INTRODUCED BY SENATOR JACOB.
Read 1st time January 18, 2000, and 1,000 copies ordered printed.
TERRY L. SPIELER, Secretary.
3946S.01I
AN ACT
To amend chapter 375, RSMo, by adding thereto one new section relating to insurance security deposits.
Section A. Chapter 375, RSMo, is amended by adding thereto one new section, to be known as section 375.347, to read as follows:
375.347. Securities and other related assets not exclusively controlled by the insurance company shall be held by banks, trust companies or securities depositaries that are members of and regulated by the Securities and Exchange Commission, the Federal Reserve System and the appropriate banking authority.