SECOND REGULAR SESSION
SENATE BILL NO. 964
90TH GENERAL ASSEMBLY
INTRODUCED BY SENATOR JACOB.
Read 1st time February 3, 2000, and 1,000 copies ordered printed.
TERRY L. SPIELER, Secretary.
3679S.01I
AN ACT
To repeal sections 375.014, 375.016, 375.017, 375.018, 375.019, 375.020, 375.021, 375.025, 375.027, 375.071, 375.076, 375.081, 375.086, 375.091, 375.096, 375.101, 375.106, 375.116, 375.126 and 375.141, RSMo 1994, and section 375.022, RSMo Supp. 1999, relating to insurance producers, and to enact in lieu thereof seventeen new sections relating to the same subject, with an effective date.
Section A. Sections 375.014, 375.016, 375.017, 375.018, 375.019, 375.020, 375.021, 375.025, 375.027, 375.071, 375.076, 375.081, 375.086, 375.091, 375.096, 375.101, 375.106, 375.116, 375.126 and 375.141, RSMo 1994, and section 375.022, RSMo Supp. 1999, are repealed and seventeen new sections enacted in lieu thereof, to be known as sections 375.020, 375.1950, 375.1953, 375.1956, 375.1959, 375.1962, 375.1965, 375.1968, 375.1971, 375.1974, 375.1978, 375.1981, 375.1984, 375.1987, 375.1990, 375.1993 and 375.1996, to read as follows:
[375.014. No person shall act in this state as an insurance agent unless he is licensed by the director as provided in this chapter.][375.016. 1. The director shall issue a license to any natural person, who is at least eighteen years of age, and has complied with the requirements of section 375.018, authorizing the licensee to act as an insurance agent in respect to any or all types of insurance as specified in such license, on behalf of any company which is authorized to do and transact such kinds of insurance business in this state.
2. Any license issued shall authorize only the licensee named in the license to act individually as agent thereunder.][375.017. 1. A person not a legal resident of this state may be licensed to act in this state as an agent upon compliance with the provisions of this chapter provided that the state in which the person resides will accord the same privilege to a resident of this state. The director is authorized to enter into reciprocal agreements with the appropriate official of any other state waiving the written examination of any applicant residing in the other state; provided, the director deems the applicant fully qualified and competent; and
(1) That a written examination is required of applicants for similar licenses in the other state; and
(2) That the appropriate official in that state certifies that the applicant holds a currently valid license as broker or agent in that state and either passed a written examination or was the holder of a license prior to the time a written examination was required.
2. In the event that the applicant is a resident of a state which does not require a written examination, then the director shall subject him to a written examination under terms and conditions to be prescribed by the director of insurance.
3. In the event that the applicant is a resident of another state in which the appropriate insurance official, as a general policy, has refused to permit legal residents of Missouri to become licensed as agents and to transact the business of insurance in such state, then the director shall not license any applicant from that state.][375.018. 1. In addition to any other requirement imposed by law or rule, no applicant for an agent's or broker's license shall be qualified therefor unless, within one year immediately preceding the date a written application is made to the director, the applicant has successfully completed a course of study approved by the director requiring the following hours of study, or the equivalent thereof, for the following licenses: Not less than twenty hours for a license limited to fire and allied lines insurance and twenty hours for general casualty insurance, or forty hours combined of fire and allied lines and general casualty insurance; and not less than fifteen hours for a license limited to life insurance and fifteen hours for accident and health insurance. Any agent who is certified by the Federal Crop Insurance Corporation on September 28, 1985, to write federal crop insurance shall not be required to have a fire and allied lines license for the purpose of writing federal crop insurance. The director shall grant authority until revoked to such public and private educational organizations, technical colleges, trade schools, insurance companies or insurance trade organizations, or other approved organizations that provide satisfactory evidence that the courses of study actually taken by the applicant were in substantial compliance with the requirements established by the director. The director shall require the applicant to furnish a certificate of completion of any required courses of study from the authorized educational organizations. Every applicant seeking approval for a course of study by the director under this section shall pay to the director a filing fee of fifty dollars per course, unless it is a not for profit agents' group or association which provides no compensation to the course instructor. Such fee shall accompany any application form required by the director for such course approval. Courses shall be approved for a period of no more than one year. Applicants holding courses intended to be offered for a longer period must reapply for approval. Courses approved by the director prior to August 28, 1993, for which continuous certification is sought should be resubmitted for approval sixty days before the anniversary date of the director's previous approval.
2. Before any insurance agent's license is issued, there shall be on file in the office of the director the following:
(1) A written application made under oath by the prospective licensee in the form prescribed by the director. The application form shall contain answers to the following interrogatories: name, address, date of birth, sex, past employment for the three-year period immediately preceding the date of the application, past experience in insurance, status of accounts with insurance companies and agents, criminal convictions or pleas of nolo contendere for felonies or misdemeanors, or currently pending felony charges or misdemeanor charges excluding minor traffic violations, and if a surety bond has ever been refused or revoked as a result of dishonest acts or practices. In addition, the application form shall contain a statement as to the kinds of insurance business in which the applicant intends to engage; and
(2) A fee of twenty-five dollars must accompany each application for an agent's license.
3. The director shall, in order to determine the competency of every individual applicant for a license, require the individual applicant to take and pass to the satisfaction of the director a written examination upon the kind or kinds of insurance business specified in his or her application. Such examinations shall be held at such times and places as the director shall from time to time determine. The director may, at his order or discretion, designate an independent testing service to prepare and administer such examination subject to direction and approval by the director, and examination fees charged by such service shall be paid by the applicant. An examination fee represents an administrative expense and is not refundable.
4. The examination shall be as prescribed by the director and shall be of sufficient scope so as to reasonably test the applicant's knowledge relative to the kind or kinds of insurance which may be dealt with under the license applied for by the applicant. The applicant shall be notified of the result of the examination within twenty working days of the examination. The applicant may begin to act as an agent for those lines for which the applicant has passed an examination and completed the study requirements required by subsection 1 of this section and a license has been received by the applicant.
5. No examination or approved course of study required by subsection 1 of this section shall be required of:
(1) An applicant who is a ticket-selling agent or representative of a common carrier or other company who acts as an insurance agent only in reference to the issuance of insurance contracts primarily for covering the risk of travel;
(2) An applicant who holds a current license in another state which requires a written examination satisfactory to the director;
(3) An applicant for the same kind of license as that which was held in another state within one year next preceding the date of the application and which the applicant secured by passing a written examination and fulfilling comparable study requirements, and provided that the applicant is a legal resident of this state at the time of the application and is otherwise deemed by the director to be fully qualified;
(4) An applicant who is an owner of an individually owned business, his employee, or an officer or employee of a partnership or corporation who solicits, negotiates or procures credit life, accident and health or property insurance in connection with a loan or a retail time sale transaction made by the corporation, partnership, or individual business, or in a business in which there is conducted wholly or partly retail installment transactions under chapter 365, RSMo;
(5) Any person selling title insurance.
6. Every application for a license which may be granted without examination shall be accompanied by a fee of twenty-five dollars.
7. Subsection 1 of this section shall not apply to any person licensed as an agent or broker on January 1, 1986, unless the agent or broker applies for a type of license or line of insurance for which the agent or broker is not licensed as of January 1, 1986.
8. The biennial renewal fee for an agent's license is twenty-five dollars for each license. An agent's license shall be renewed biennially on the anniversary date of issuance and continue in effect until refused, revoked or suspended by the director in accordance with section 375.141; except that if the biennial renewal fee for the license is not paid within ninety days after the biennial anniversary date or if the agent has not complied with section 375.020 if applicable within ninety days after the biennial anniversary date, the license terminates as of ninety days after the biennial anniversary date.
9. Any nonresident agent who has not complied with the provisions of section 375.020 may not reapply for an agent license until that agent has taken the continuing education courses required under section 375.020.
10. An agent whose license terminated for nonpayment of the biennial renewal fee or noncompliance with section 375.020 may apply for a new agent's license because of such nonpayment or noncompliance, except that such agent must comply with all provisions of this section regarding issuance of a new license if such license was terminated for noncompliance with section 375.020, or shall pay a late fee at the rate of twenty-five dollars per month or fraction thereof after the biennial anniversary date if such license was terminated for nonpayment of the renewal fee, except that nothing in this subsection shall require the director to relicense any agent determined to have violated the provisions of subsection 1 of section 375.141.][375.019. To assist the director to carry out the provisions of section 375.018 there shall be an "Advisory Board on Licensing and Examination of Insurance Agents and Brokers" consisting of nine insurance agents or brokers duly licensed by the state of Missouri. An insurance agent or broker to be eligible for service on the state board on examinations shall be a citizen of the United States, a resident insurance agent or broker of the state of Missouri, licensed as an insurance agent or broker by the state of Missouri. Members of the board shall be appointed by the director. The director shall appoint four members for two-year terms and five members for three-year terms. Membership on the board shall terminate for failure to meet any of the qualifications for eligibility, death, disability, inability to serve or resignation, absence from two consecutive regular meetings without acceptable excuse filed in writing to the board, or removal by the director. The board shall meet regularly at a place designated by the director within the state of Missouri at least annually and whenever deemed necessary by the director. At the regular meeting the board shall elect officers and transact any other such business as may properly come before the board. Five members shall constitute a quorum. The officers of the board shall consist of a chairman and vice chairman elected for a term of one year. The chairman, or in the event of his inability to serve, the vice chairman, shall preside at all meetings of the board, appoint committees, and perform the usual duties of such office. The board shall appoint a secretary who shall be a member of the board. The secretary shall keep correct minutes of all meetings of the board, furnishing a copy to each member and the director, mail notices of all meetings no less than ten days in advance thereof, and otherwise perform the usual duties of such office. The board shall make recommendations, including, but not limited to, courses of study required under subsection 1 of section 375.018, the approval of any educational or trade organizations and insurance companies, and any other matter that pertains to the study requirements provided by subsection 1 of section 375.018. The board shall seek at all times to maintain and increase the effectiveness of examinations for insurance agent or broker licenses and shall advise and consult with the director with respect to the preparation and the conduct of insurance agent or broker examinations. The board shall recommend such changes as may expedite or improve any phase of the examination procedure or the method of conducting examinations. The board shall receive suggestions regarding the examination for consideration and discussion. The board shall make rules and determine procedure, with the approval of the director, in reference to other matters which may properly come before a board on examinations. Each member of the board on beginning his or her term of office shall file with the director a written pledge of faithful and honorable performance. The members of the board shall receive no compensation or expenses in connection with the performance of their duties.]375.020. 1. Beginning January 1, 1990, each insurance [agent and insurance broker] producer, unless exempt under subsection 7, 8 or 9 of this section, licensed to sell insurance in this state shall successfully complete courses of study as required by this section. Any person licensed to act as an insurance [agent or insurance broker] producer shall, during each two years, attend courses or programs of instruction or attend seminars equivalent to a minimum of ten hours of instruction for a life or accident and health license or both a life and an accident and health license and a minimum ten hours of instruction for a property or casualty license or both a property and a casualty license. Sixteen hours of training will suffice for those with a life, health, accident, property and casualty license. Of the sixteen hours training required above, the hours need not be divided equally. The courses or programs shall include instruction on Missouri law. Course credit shall be given to members of the general assembly as determined by the department.
2. Subject to approval by the director, the courses or programs of instruction which shall be deemed to meet the director's standards for continuing educational requirements shall include, but not be limited to, the following:
(a) American College Courses (CLU, ChFC);
(b) Life Underwriters Training Council (LUTC);
(c) Certified Insurance Counselor (CIC);
(d) Chartered Property and Casualty Underwriter (CPCU);
(e) Insurance Institute of America (IIA);
(f) An insurance related course taught by an accredited college or university or qualified instructor who has taught a course of insurance law at such institution;
(g) A course or program of instruction or seminar developed or sponsored by any authorized insurer, recognized agents' association or insurance trade association. A local agents' group may also be approved if the instructor receives no compensation for services.
3. A person teaching any approved course of instruction or lecturing at any approved seminar shall qualify for the same number of classroom hours as would be granted to a person taking and successfully completing such course, seminar or program.
4. Excess classroom hours accumulated during any two-year period may be carried forward to the two-year period immediately following the two-year period in which the course, program or seminar was held.
5. For good cause shown, the director may grant an extension of time during which the educational requirements imposed by this section may be completed, but such extension of time shall not exceed the period of one calendar year. The director may grant an individual waiver of the mandatory continuing education requirement upon a showing by the licensee that it is not feasible for the licensee to satisfy the requirements prior to the renewal date. Waivers may be granted for reasons including, but not limited to:
(1) Serious physical injury or illness;
(2) Active duty in the armed services for an extended period of time;
(3) Residence outside the United States; or
(4) Licensee is at least seventy years of age.
6. Every person subject to the provisions of this section shall furnish in a form satisfactory to the director, written certification as to the courses, programs or seminars of instruction taken and successfully completed by such person. A filing fee shall be paid by the person furnishing the report as determined by the director to be necessary to cover the administrative cost related to the handling of such certification reports, subject to the limitations imposed in subsection 10 of this section.
7. The provisions of this section shall not apply to those natural persons holding licenses for any kind or kinds of insurance for which an examination is not required by the law of this state, nor shall they apply to any such limited or restricted license as the director may exempt.
8. The provisions of this section shall not apply to those natural persons holding or applying for a license to act as an insurance [agent or insurance broker] producer in Missouri who reside in a state that has enacted and implemented a mandatory continuing education law or regulation pertaining to the type of license then held or applied for by such person. However, those natural persons holding or applying for a Missouri [agent or broker] producer license who reside in states which have no mandatory continuing education law or regulations shall be subject to all the provisions of this section to the same extent as resident Missouri agents and brokers.
9. The provisions of this section shall not apply to a life insurance agent who is limited by the terms of a written agreement with the insurer, which the insurer filed on that agent's behalf the appropriate appointment documents with the department of insurance, to transact only specific life insurance policies having an initial face amount of five thousand dollars or less, or annuities having an initial face amount of ten thousand dollars or less, that are designated by the purchaser for the payment of funeral or burial expenses. The director may require the insurer appointing such agents to certify as to the agents' representations.
10. Rules and regulations necessary to implement and administer this section shall be promulgated by the director of the department of insurance, including, but not limited to, rules and regulations regarding the following:
(1) Course content and hour credits: The insurance advisory board established by section 375.019 shall be utilized by the director to assist him in determining acceptable content of courses, programs and seminars to include classroom equivalency;
(2) Filing fees for course approval: Every applicant seeking approval by the director of a continuing education course under this section shall pay to the director a filing fee of fifty dollars per course, except that such total fee shall not exceed two hundred fifty dollars per year for any single applicant. Fees shall be waived for local agents' groups if the instructor receives no compensation for services. Such fee shall accompany any application form required by the director. Courses shall be approved for a period of no more than one year. Applicants holding courses intended to be offered for a longer period must reapply for approval. Courses approved by the director prior to August 28, 1993, for which continuous certification is sought should be resubmitted for approval sixty days before the anniversary date of the director's previous approval;
(3) Filing fee for continuing education certification: The director has the authority to determine the amount of the filing fee to be paid by agents and brokers at the time of license renewal, which shall be set at an amount to produce revenue which shall not substantially exceed the cost of administering this section, but in no event shall such fee exceed ten dollars per biennial report filed.
11. All funds received pursuant to the provisions of this section shall be transmitted by the director of the department of insurance to the department of revenue for deposit in the state treasury to the credit of the department of insurance dedicated fund. All expenditures necessitated by this section shall be paid from funds appropriated from the department of insurance dedicated fund by the legislature. Any money in the insurance continuing education trust fund on June 26, 1991, shall be transferred to the credit of the department of insurance dedicated fund.
12. When the insurance agent or insurance broker pays his biennial renewal fee, he shall also furnish the written certification and filing fee required by this section.
[375.021. A license issued to an agent shall authorize him to act as agent until such time as the license is terminated, suspended or revoked. Upon the termination, suspension or revocation of the license, the agent or any person having possession of the license shall immediately return same to the director and the director shall notify the agent and all companies appointing the agent by letter that the license is terminated, suspended or revoked. If at any time an agent has been without an appointment by a company for a period of two years, the director shall send the agent notice that the license will terminate within thirty working days except that if such agent has complied with the provisions of section 375.020 and has paid all licensing and other fees required by law, such agent's license shall not be so terminated. The agent may request a hearing before the director within thirty working days of notice of termination. Any insurance agent, broker or insurance agency holding a valid license on January 1, 1982, will not be required to take an examination or pay a fee for said license. In addition, no insurance company is required to appoint any agent which is designated on the records of the department of insurance as representing said company as of January 1, 1982.][375.022. 1. Every insurance company authorized to provide or transact insurance in this state shall, within thirty working days of an appointment of an agent to act for such insurance company, notify the director of such appointment upon forms prescribed by the director. Each appointment will result in a ten-dollar fee. The company shall remit these fees to the department of insurance on a quarterly basis. Such appointments may be made by appointing individual agents or by designating a licensed agency. The designation of an agency shall be deemed to appoint all agents listed by such agency pursuant to section 375.061 to act for the insurance company in the lines for which the agent is licensed and the agency is designated. Any additional agents listed by the agency pursuant to section 375.061 after the designation of the agency shall be deemed appointed for all companies with existing designations of the agency. The appointment of an agent pursuant to the provisions of this subsection shall terminate upon the agent's termination by or resignation from the agency, upon termination of the agency by the insurance company, or upon nonrenewal, suspension, surrender or revocation of the agent's license. Every such insurance company shall notify the director within thirty working days of the termination of the appointment of any agent whether the termination is by action of the company or resignation of the agent. Each termination will result in a ten-dollar fee. When the cause of termination is for a reason that, pursuant to the provisions of section 375.141, would permit the director to revoke, suspend or refuse to issue an agent's license, the notice shall state the cause and circumstances of the termination. The notice shall be filed promptly after termination and within such time as may be prescribed by an appropriate order or regulation of the director of the department of insurance. The director may prescribe the form upon which the notification is to be given. The director shall upon written request by the agent furnish to him or her a copy of all information obtained pursuant to this section.
2. Any information filed by an insurance company or obtained by the director pursuant to this section and any document, record or statement required by the director pursuant to the provisions of this section shall be deemed confidential and absolutely privileged. There shall be no liability on the part of, and no cause of action shall arise against, any insurer, its agents or its authorized investigative sources or the director or the director's authorized representatives in connection with any written notice required by this section made by them in good faith.][375.025. The director may issue an agent's temporary license without requiring the applicant to pass a written examination in the following circumstances:
(1) To the surviving spouse or next of kin or the personal representative of a deceased agent, or to the spouse, next of kin, employee, or conservator of a licensed agent becoming disabled because of sickness, mental or physical disability, or injury, if in the director's opinion a temporary license is necessary for the continuation of the business of the agent thereby affected. Such license may be issued for a term not exceeding ninety days and the director may in his discretion renew such license for an additional term or terms of ninety days each, not exceeding in the aggregate fifteen months;
(2) To the designee of a licensed agent who shall enter active service in the armed forces of the United States for such period of time as in the opinion of the director may be necessary for the continuation of the business of the agent thereby affected.][375.027. A nonrenewable temporary license may be issued for a period not to exceed ninety days in cases where an applicant has theretofore filed a completed application for a license, has secured a company appointment, has paid the applicable fees and where the director is satisfied as to the applicant's business reputation.][375.071. Unless exempted by subsection 7 of section 375.018, no person shall act as or hold himself out to be a broker until he has satisfied the study requirements of subsection 1 of section 375.018 and has procured a license as required by this chapter, and no broker shall solicit or take applications for, procure, or place for others any kind or kinds of insurance, or any subdivision thereof, for which he is not then licensed.][375.076. Any person desiring a license to act as a broker shall file with the director a fee of one hundred dollars and his written application in such form and give such information respecting his qualifications as the director may reasonably require.][375.081. 1. If satisfied that the applicant meets the requirements of sections 375.018 and 375.091, the director shall subject the applicant to a written examination as to his or her competence to act as broker for any kind or kinds of insurance, or subdivision thereof, for which he or she wishes to be licensed. Such examinations shall be held at such times and places as the director shall from time to time determine. The director may, at his or her discretion, designate an independent testing service to prepare and administer such examination subject to direction and approval by the director, and examination fees charged by such service shall be paid by the applicant. An examination fee represents an administrative expense and is not refundable.
2. If the director is satisfied as to the qualifications of the applicant, he or she shall issue a license limited to the kind, or kinds, of insurance, or any subdivision thereof, for which the applicant is qualified.
3. Each applicant shall be advised of the result of his or her examination within twenty working days after the date of the examination.
4. The director may establish reasonable rules and regulations with respect to the scope, type, and conduct of uniform examinations and the times and places where they shall be held. The rules and regulations may require a reasonable waiting period before giving an examination to an applicant who has failed to pass a previous similar examination.][375.086. No examination shall be required of:
(1) An applicant for the same kind of license as that which he holds in this state as of January 1, 1982; or
(2) An applicant for the same kind of license as that which he has held in another state within one year next preceding the date of his application and which he secured by passing a written examination; and provided that the applicant is a legal resident of this state at the time of his application and is otherwise deemed by the director to be fully qualified and competent.][375.091. Any license required by this chapter shall be issued to any person who is at least eighteen years of age, a citizen of the United States, and who is trustworthy and competent to act, and intends to hold himself out in good faith as an insurance broker, and the license is not sought principally for the purpose of soliciting, negotiating or procuring insurance contracts covering himself or his spouse or insurance on property owned by the applicant.][375.096. 1. The biennial renewal fee for a broker's license is one hundred dollars for each license. A broker's license shall be renewed biennially on the anniversary date of issuance and continue in effect until refused, revoked, or suspended by the director in accordance with section 375.141; except that if the biennial renewal fee for the license is not paid within ninety days after the biennial anniversary date or if the broker has not complied with section 375.020 if applicable within ninety days after the biennial anniversary date, the license terminates as of ninety days after the biennial anniversary date.
2. Any nonresident broker who has not complied with the provisions of section 375.020 may not reapply for a broker's license until that broker has taken the continuing education courses required under section 375.020.
3. A broker whose license terminated for nonpayment of the biennial renewal fee or noncompliance with section 375.020 may apply for a new broker's license because of such nonpayment or noncompliance, except that such broker must comply with all provisions of sections 375.076, 375.082*, 375.086, and 375.091 regarding issuance of a new license if such license was terminated for noncompliance with section 375.020, or shall pay a late fee at the rate of twenty-five dollars per month or fraction thereof after the biennial anniversary date if such license was terminated for nonpayment of the renewal fee, except that nothing in this subsection shall require the director to relicense any broker determined to have violated the provisions of subsection 1 of section 375.141.][375.101. The director shall, if requested, issue a broker's temporary license without requiring the applicant to pass a written examination in the following circumstances:
(1) To the surviving spouse or next of kin or to the personal representative of a deceased licensed broker or to the spouse, next of kin, employee or conservator of a licensed broker becoming disabled because of sickness, mental or physical disability or injury, if in the director's opinion the temporary license is necessary for the continuation of the business of the broker thereby affected. The license shall be issued for a term not exceeding six months and the director may in his discretion renew the license for an additional term of six months, thus not exceeding in the aggregate twelve months;
(2) To the appointee of a licensed broker who enters upon active service in the armed forces of the United States, for such period of time as in the opinion of the director may be necessary for the continuation of the business of the broker thereby affected.][375.106. Brokers shall negotiate contracts of insurance only with qualified domestic insurance companies, licensed insurance agencies or their agents, or foreign insurance companies duly admitted to do business in this state, or with a duly licensed surplus lines broker. Every broker shall notify the director of those insurance companies with whom he places risks. Such notification shall not take place more than ten days after he places the first such risk with such insurance company or surplus lines broker. Every broker shall also immediately notify the director when he no longer intends to place such risks with such insurance company or surplus lines broker on a regular basis. Willful failure of a broker to comply with this requirement shall cause the revocation or suspension of all licenses held by the broker.][375.116. 1. An insurance carrier or agent thereof or broker may pay money, commissions or brokerage, or give or allow anything of value, for or on account of negotiating contracts of insurance, or placing or soliciting or effecting contracts of insurance, to a duly licensed broker.
2. Nothing in this chapter shall abridge or restrict the freedom of contract of insurance carriers or agents thereof or brokers with reference to the amount of commissions or fees to be paid to such brokers and such payments are expressly authorized.
3. No insurance broker shall have any right to compensation, other than commissions deductible from premiums on insurance policies or contracts, from any insured or prospective insured for or on account of the negotiation or procurement of, or other service in connection with, any contract of insurance made or negotiated in this state or for any other services on account of such insurance policies or contracts, including adjustment of claims arising therefrom, unless the right to compensation is based upon a written agreement between the broker and the insured specifying or clearly defining the amount or extent of the compensation. Nothing herein contained shall affect the right of any broker to recover from the insured the amount of any premium or premiums for insurance effectuated by or through the broker.
4. No insurance broker shall, in connection with the negotiation, procurement, issuance, delivery or transfer in this state of any contract of insurance made or negotiated in this state, directly or indirectly, charge or receive from the insured or prospective insured therein any greater sum than the rate of premium fixed therefor and shown on the policy by the insurance carrier obligated as such therein, unless the broker has a right to compensation for services created in the manner specified in subsection 3.][375.126. A person not a legal resident of this state may be licensed to act in this state as a broker upon compliance with the provisions of this chapter; provided that the state in which the person resides will accord the same privilege to a resident of this state; provided that a written examination is required of applicants for similar licenses in the other state and that the appropriate official in that state certifies that the applicant holds a currently valid license as broker or agent in that state and either passed a written examination or was the holder of a license prior to the time a written examination was required.][375.141. 1. The director may revoke or suspend, for such period as he or she may determine, any license of any insurance agent, agency or broker if it is determined as provided by sections 621.045 to 621.198, RSMo, that the licensee or applicant has, at any time, or if an insurance agency, the officers, owners or managers thereof have:
(1) In their dealings as an agent, broker or insurance agency, knowingly violated any provisions of, or any obligation imposed by, the laws of this state, department of insurance rules and regulations, or aided, abetted or knowingly allowed any insurance agent or insurance broker acting in behalf of an insurance agency to violate such laws, orders, rules or regulations which result in the revocation or suspension of the agent's or broker's license notwithstanding the same may provide for separate penalties;
(2) Obtained or attempted to obtain license by fraud, misrepresentation or made a material misstatement in the application for license;
(3) Been convicted of a felony or crime involving moral turpitude;
(4) Demonstrated lack of trustworthiness or competence;
(5) Misappropriated or converted to his, her or its own use or illegally withheld money belonging to an insurance company, its agent, or to an insured or beneficiary or prospective insurance buyer;
(6) Practiced or aided or abetted in the practice of fraud, forgery, deception, collusion or conspiracy in connection with any insurance transaction;
(7) Acted as an insurance agency through persons not licensed as insurance agents or insurance brokers;
(8) Acted as an insurance agent, insurance agency, or insurance broker when not licensed as such;
(9) Had revoked or suspended any insurance license by another state;
(10) Committed unfair practices as defined in section 375.936;
(11) Sought the license for the primary purpose of soliciting, negotiating or procuring insurance contracts covering himself or herself or his or her family or insurance on property owned by his or her employer or any person who is employed by him or her or by a corporation, partnership or association of which he or she shall own or control a majority of the voting stock or a controlling interest;
(12) Is a legal resident of another state, licensed pursuant to section 375.017 or 375.126, which other state does not allow legal residents of Missouri to obtain a license to act as an agent or broker and to transact the business of solicitation of, negotiation for, or procurement or making of, insurance or annuity contracts;
(13) Owned or operated an insurance business in this state if the agent, broker or agency knew, or should have known, that the result was, or was likely to have been, an illegal placement of insurance with an unauthorized "multiple employer self-insured health plan" as that term is defined in section 376.1000, RSMo, or the subsequent servicing of an insurance policy illegally placed with an unauthorized multiple employer self-insured health plan.
2. The director may refuse to issue any license to any insurance agent, agency or broker if he or she determines that the licensee or applicant has, at any time, or if an insurance agency, the officers, owners or managers thereof have violated any of the provisions set out in subsection 1 of this section.
3. Every agent or broker licensed in this state shall notify the director, in writing, within thirty days, of any change in his or her residence address, and any agency licensed in this state shall notify the director, in writing, within thirty days, of any change in its business address. If the failure to notify the director of such change in address results in an inability to serve an agent, broker or agency with a complaint as provided by sections 621.045 to 621.198, RSMo, then the director may immediately revoke the license of said agent, broker or agency until such time as service may be obtained.
4. The director may also revoke or suspend under subsection 1 of this section any license issued by the director where the licensee has failed to renew or has surrendered such license.] 375.1950. As used in sections 375.1950 to 375.1996, the following words mean:
(1) "Business entity", a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity;
(2) "Director", the director of the department of insurance;
(3) "Insurance", any of the lines of authority in chapters 375, 376, 377, 378, 379 and 381, RSMo;
(4) "Insurance producer", a person required to be licensed under the laws of this state to sell, solicit or negotiate insurance, the term insurance producer includes broker and agent as defined in section 375.012;
(5) "Insurer", any person, reciprocal exchange, interinsurer, Lloyds insurer, fraternal benefit society, and any other legal entity engaged in the business of insurance, including health services corporations, health maintenance organizations, prepaid limited health care service plans, dental, optometric and other similar health service plans, unless their exclusion from this definition can be clearly ascertained from the context of the particular statutory section under consideration. "Insurer" shall also include all companies organized, incorporated or doing business under the provisions of chapters 375, 376, 377, 378, 379 and 381, RSMo. "Insurer" shall not include companies formed under section 354.700, RSMo. Trusteed pension plans and profit sharing plans qualified under the United States Internal Revenue Code as now or hereafter amended shall not be considered to be insurance companies or insurers within the definition of this section;
(6) "License", a document issued by the director authorizing a person to act as an insurance producer for the lines of authority specified in the document. The license itself does not create any authority, actual, apparent or inherent, in the holder to represent or commit an insurance carrier;
(7) "Negotiate", the act of conferring directly with or offering advice directly to a purchaser or prospective purchaser of a particular contract of insurance concerning any of the substantive benefits, terms or conditions of the contract, provided that the person engaged in that act either: sells insurance or obtains insurance from insurers for purchasers;
(8) "Person", an individual or a business entity;
(9) "Sell", means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurance company;
(10) "Solicit", attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance from a particular company;
(11) "Terminate", the cancellation of the relationship between an insurance producer and the insurer or the termination of a producer's authority to transact insurance;
(12) "Uniform application", the current version of the NAIC Uniform Application for resident and nonresident producer licensing;
(13) "Uniform business entity application", the current version of the NAIC Uniform Business Entity Application for resident and nonresident business entities.
375.1953. A person shall not sell, solicit or negotiate insurance in this state for any class or classes of insurance unless the person is licensed for that line of authority in accordance with sections 375.1950 to 375.1996. Sections 375.1950 to 375.1996 shall not apply to excess and surplus lines agents and brokers licensed pursuant to section 384.043.
375.1956. 1. Nothing in sections 375.1950 to 375.1996 shall be construed to require an insurer to obtain an insurance producer license. In this section, the term "insurer" does not include an insurer's officers, directors, employees, subsidiaries or affiliates.
2. A license as an insurance producer shall not be required of the following:
(1) An officer, director or employee of an insurer or of an insurance producer, provided that the officer, director or employee does not receive any commission on policies written or sold to insure risks residing, located or to be performed in this state and:
(a) The officer, director or employee's activities are executive, administrative, managerial, clerical or a combination of these, and are only indirectly related to the sale, solicitation or negotiation of insurance; or
(b) The officer, director or employee's function relates to underwriting, loss control, inspection or the processing, adjusting, investigating or settling of a claim on a contract of insurance; or
(c) The officer, director or employee is acting in the capacity of a special agent or agency supervisor assisting insurance producers where the person's activities are limited to providing technical advice and assistance to licensed insurance producers and do not include the sale, solicitation or negotiation of insurance;
(2) A person who secures and furnishes information for the purpose of group life insurance, group property and casualty insurance, group annuities, group or blanket accident and health insurance; or for the purpose of enrolling individuals under plans; issuing certificates under plans or otherwise assisting in administering plans; or performs administrative services related to mass marketed property and casualty insurance; where no commission is paid to the person for the service;
(3) An employer or association or its officers, directors, employees, or the trustees of an employee trust plan, to the extent that the employers, officers, employees, director or trustees are engaged in the administration or operation of a program of employee benefits for the employer's or association's own employees or the employees of its subsidiaries or affiliates, which program involves the use of insurance issued by an insurer, as long as the employers, associations, officers, directors, employees or trustees are not in any manner compensated, directly or indirectly, by the company issuing the contracts;
(4) Employees of insurers or organizations employed by insurers who are engaging in the inspection, rating or classification of risks, or in the supervision of the training of insurance producers and who are not individually engaged in the sale, solicitation or negotiation of insurance;
(5) A person whose activities in this state are limited to advertising without the intent to solicit insurance in Missouri through communications in printed publications or other forms of electronic mass media whose distribution is not limited to residents of Missouri, provided that the person does not sell, solicit or negotiate insurance that would insure risks residing, located or to be performed in Missouri;
(6) A person who is not a resident of Missouri who sells, solicits or negotiates a contract of insurance for commercial property and casualty risks to an insured with risks located in more than one state insured under that contract, provided that that person is otherwise licensed as an insurance producer to sell, solicit or negotiate that insurance in the state where the insured maintains its principal place of business and the contract of insurance insures risks located in that state;
(7) A salaried full-time employee who counsels or advises his or her employer relative to the insurance interests of the employer or of the subsidiaries or business affiliates of the employer provided that the employee does not sell or solicit insurance or receive a commission; or
(8) Employees of an insurer or of an insurance producer who respond to requests from existing policyholders on existing policies provided that those employees are not directly compensated based on the volume of premiums that may result from these services and provided those employees do not otherwise sell, solicit or negotiate insurance.
375.1959. 1. In addition to any other requirement imposed by law or rule, no applicant for a producer's license shall be qualified therefor unless, within one year immediately preceding the date a written application is made to the director, the applicant has successfully completed a course of study approved by the director requiring the following hours of study, or the equivalent thereof, for the following licenses: not less than twenty hours for a license limited to fire and allied lines insurance and twenty hours for general casualty insurance, or forty hours combined of fire and allied lines and general casualty insurance; and not less than fifteen hours for a license limited to life insurance and fifteen hours for accident and health insurance. Any producer who is certified by the Federal Crop Insurance Corporation on September 28, 1985, to write federal crop insurance shall not be required to have a fire and allied lines license for the purpose of writing federal crop insurance. The director shall grant authority until revoked to such public and private educational organizations, technical colleges, trade schools, insurance companies or insurance trade organizations, or other approved organizations that provide satisfactory evidence that the courses of study actually taken by the applicant were in substantial compliance with the requirements established by the director. The director shall require the applicant to furnish a certificate of completion of any required courses of study from the authorized educational organizations. Every applicant seeking approval for a course of study by the director under this section shall pay to the director a filing fee of fifty dollars per course, unless it is a not for profit agents' group or association which provides no compensation to the course instructor. Such fee shall accompany any application form required by the director for such course approval. Courses shall be approved for a period of no more than one year. Applicants holding courses intended to be offered for a longer period must reapply for approval. Courses approved by the director prior to August 28, 1993, for which continuous certification is sought should be resubmitted for approval sixty days before the anniversary date of the director's previous approval.
2. A resident individual applying for an insurance producer license shall pass a written examination unless exempt pursuant to section 375.1971. The examination shall test the knowledge of the individual concerning the lines of authority for which application is made, the duties and responsibilities of an insurance producer and the insurance laws and regulations of Missouri. Examinations required by this section shall be developed and conducted under rules and regulations prescribed by the director.
3. The director may make arrangements, including contracting with an outside testing service, for administering examinations and collecting the nonrefundable fee set forth in subsection 4 of this section.
4. Each individual applying for an examination shall remit a nonrefundable fee as prescribed by the director.
5. An individual who fails to appear for the examination as scheduled or fails to pass the examination, shall reapply for an examination and remit all required fees and forms before being rescheduled for another examination.
375.1962. 1. A person applying for a resident insurance producer license shall make application to the director on the Uniform Application and declare under penalty of refusal, suspension or revocation of the license that the statements made in the application are true, correct and complete to the best of the individual's knowledge and belief. Before approving the application, the director shall find that the individual:
(1) Is at least eighteen years of age;
(2) Has not committed any act that is a ground for denial, suspension or revocation set forth in section 375.1981;
(3) Has completed a prelicensing course of study for the lines of authority for which the person has applied as prescribed in section 375.1959;
(4) Has paid the fees established by the director; and
(5) Has successfully passed the examinations for the lines of authority for which the person has applied.
2. The director may require any documents reasonably necessary to verify the information contained in an application.
375.1965. 1. Unless denied licensure pursuant to section 375.1981, persons who have met the requirements of sections 375.1959 and 375.1962 shall be issued an insurance producer license. An insurance producer may receive qualification for a license in one or more of the following lines of authority:
(1) Life-insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income;
(2) Accident and health or sickness-insurance coverage for sickness, bodily injury or accidental death and may include benefits for disability income;
(3) Property-insurance coverage for the direct or consequential loss or damage to property of every kind;
(4) Casualty-insurance coverage against legal liability, including that for death, injury or disability or damage to real or personal property;
(5) Variable life and variable annuity products-insurance coverage provided under variable life insurance contracts, variable annuities or any other life insurance or annuity product that reflects the investment experience of a separate account;
(6) Any other line of insurance permitted under state laws or regulations.
2. An insurance producer license shall remain in effect unless revoked or suspended as long as all renewal fees are paid and education requirements for resident individual producers are met by the due date.
3. An individual insurance producer who allows his or her license to lapse may, within twelve months from the due date of the renewal fee, reinstate the same license without the necessity of passing a written examination. However, a penalty in the amount of double the unpaid renewal fee shall be required for any renewal fee received after the due date.
4. A licensed insurance producer who is unable to comply with license renewal procedures due to military service or some other extenuating circumstance (e.g., a long-term medical disability) may request a waiver of those procedures. The producer may also request a waiver of any examination requirement or any other fine or sanction imposed for failure to comply with renewal procedures.
5. The license shall contain the licensee's name, address, personal identification number, and the date of issuance, the lines of authority, the expiration date and any other information the director deems necessary.
6. Licensees shall inform the director by any means acceptable to the director of a change of address within thirty days of the change. If the failure to notify the director of such change of address results in the inability to serve as an insurance producer with a complaint as provided by sections 621.045 to 621.198, RSMo, then the director may immediately revoke the license of the insurance producer until such time as service may be obtained.
375.1968. 1. Unless denied licensure pursuant to section 375.1981, a nonresident person shall receive a nonresident producer license if:
(1) The person is currently licensed and in good standing in his or her state of residence or primary place of business;
(2) The person has paid the fees required established by the director; and
(3) The person has submitted or transmitted to the insurance commissioner a completed uniform application.
2. The director may verify the producer's licensing status through the producer database maintained by the National Association of Insurance Commissioners, its affiliates or subsidiaries.
3. A nonresident producer who moves from one state to another state or a resident producer who moves from Missouri to another state shall file a change of address and provide certification from the new resident state within thirty days of the change of legal residence. No fee or license application is required.
375.1971. 1. An individual who applies for an insurance producer license in Missouri who was previously licensed for the same lines of authority in another state shall not be required to complete any prelicensing education or examination. This exemption is only available if the application is received within ninety days of the cancellation of the applicant's previous license and if the prior state issues a certification that, at the time of cancellation, the applicant was in good standing in that state or the state's producer database records, maintained by the National Association of Insurance Commissioners, its affiliates or subsidiaries, indicate that the producer is or was licensed in good standing for the line of authority requested.
2. A person licensed as an insurance producer in another state who moves to Missouri shall make application within ninety days of establishing legal residence to become a resident licensee pursuant to section 375.1962. No prelicensing education or examination shall be required of that person to obtain any line of authority previously held in the prior state except where the director determines otherwise by regulation.
375.1974. An insurance producer doing business under any name other than the producer's legal name is required to notify the insurance commissioner prior to using the assumed name.
375.1978. 1. The director may issue a temporary insurance producer license for a period not to exceed one hundred eighty days without requiring an examination if the director deems that the temporary license is necessary for the servicing of an insurance business in the following cases:
(1) To the surviving spouse or court-appointed personal representative of a licensed insurance producer who dies or becomes mentally or physically disabled to allow adequate time for the sale of the insurance business owned by the producer or for the recovery or return of the producer to the business or to provide for the training and licensing of new personnel to operate the producer's business;
(2) To a member or employee of a business entity licensed as an insurance producer, upon the death or disability of an individual designated in the business entity application or the license;
(3) To the designee of a licensed insurance producer entering active service in the armed forces of the United States of America; or
(4) In any other circumstance where the director deems that the public interest will best be served by the issuance of this license.
2. The director may by order limit the authority of any temporary licensee in any way deemed necessary to protect insureds and the public. The director may require the temporary licensee to have a suitable sponsor who is a licensed producer or insurer and who assumes responsibility for all acts of the temporary licensee and may impose other similar requirements designed to protect insureds and the public. The director may by order revoke a temporary license if the interest of insureds or the public are endangered. A temporary license may not continue after the owner or the personal representative disposes of the business.
375.1981. 1. The director may place on probation, suspend, revoke or refuse to issue or renew an insurance producer's license, if it is determined as provided by sections 621.045 to 621.198, RSMo, for any one or more of the following causes:
(1) Providing incorrect, misleading, incomplete or materially untrue information in the license application;
(2) Violating any insurance laws, or violating any regulation, subpoena or order of the director or of another state's insurance commissioner;
(3) Obtaining or attempting to obtain a license through misrepresentation or fraud;
(4) Improperly withholding, misappropriating or converting any monies or properties received in the course of doing insurance business;
(5) Intentionally misrepresenting the terms of an actual or proposed insurance contract or application for insurance;
(6) Having been convicted of a felony;
(7) Having admitted or been found to have committed any insurance unfair trade practice or fraud;
(8) Using fraudulent, coercive, or dishonest practices, or demonstrating incompetence, untrustworthiness or financial irresponsibility in the conduct of business in Missouri or elsewhere;
(9) Having an insurance producer license, or its equivalent, denied, suspended or revoked in any other state, province, district or territory;
(10) Forging another's name to an application for insurance or to any document related to an insurance transaction;
(11) Improperly using notes or any other reference material to complete an examination for an insurance license;
(12) Knowingly accepting insurance business from an individual who is not licensed;
(13) Failing to comply with an administrative or court order imposing a child support obligation; or
(14) Failing to pay state income tax or comply with any administrative or court order directing payment of state income tax.
2. In the event that the action by the director is to nonrenew or to deny an application for a license, the director shall notify the applicant or licensee and advise, in writing, the applicant or licensee of the reason for the denial or nonrenewal of the applicant's or licensee's license. The applicant or licensee may seek review of the director's decision as provided in chapter 621, RSMo.
3. The license of a business entity may be suspended, revoked or refused if the director finds, after hearing, that an individual licensee's violation was known or should have been known by one or more of the partners, officers or managers acting on behalf of the partnership or corporation and the violation was neither reported to the director nor corrective action taken.
4. The director shall retain the authority to enforce the provisions of and impose any penalty or remedy authorized by sections 375.1950 to 375.1996 against any person who is under investigation for or charged with a violation of these sections even if the person's license or registration has been surrendered or has lapsed by operation of law.
375.1984. 1. An insurance company or insurance producer shall not pay a commission, service fee, brokerage or other valuable consideration to a person for selling, soliciting or negotiating insurance in Missouri if that person is required to be licensed pursuant to sections 375.1950 to 375.1996 and is not so licensed.
2. A person shall not accept a commission, service fee, brokerage or other valuable consideration for selling, soliciting or negotiating insurance in Missouri if that person is required to be licensed pursuant to sections 375.1950 to 375.1996 and is not so licensed.
3. Renewal or other deferred commissions may be paid to a person for selling, soliciting or negotiating insurance in Missouri if the person was required to be licensed pursuant to sections 375.1950 to 375.1996 at the time of the sale, solicitation or negotiation and was so licensed at that time.
4. An insurer or insurance producer may pay or assign commissions, service fees, brokerages or other valuable consideration to an insurance agency or to persons who do not sell, solicit or negotiate insurance in Missouri, unless the payment would violate the anti-rebating provision of subdivision (9) of section 375.936 or any other provision of law.
375.1987. 1. An insurance producer shall not act as an agent of an insurer unless the insurance producer becomes an appointed agent of that insurer. An insurance producer who is not acting as an agent of an insurer is not required to become appointed.
2. To appoint a producer as its agent, the appointing insurer shall file, in a format approved by the director, a notice of appointment within fifteen days from the date the agency contract is executed or the first insurance application is submitted. An insurer may also elect to appoint a producer to all or some insurers within the insurer's holding company system or group by the filing of a single appointment request.
3. Upon receipt of the notice of appointment, the director shall verify within a reasonable time not to exceed thirty days that the insurance producer is eligible for appointment. If the insurance producer is determined to be ineligible for appointment, the director shall notify the insurer within five days of its determination.
4. An insurer shall pay an appointment fee, in the amount of ten dollars for each insurance producer appointed by the insurer.
5. An insurer shall remit a renewal appointment fee on a quarterly basis in the amount prescribed by the director.
375.1990. 1. An insurer or authorized representative of the insurer that terminates the appointment, employment, contract or other insurance business relationship with a producer shall notify the director within thirty days following the effective date of the termination, using a format prescribed by the director, if the reason for termination is one of the reasons set forth in section 375.1981 or the insurer has knowledge the producer was found by a court, government body, or self-regulatory organization authorized by law to have engaged in any of the activities in section 375.1981. Upon the written request of the director, the insurer shall provide additional information, documents, records or other data pertaining to the termination or activity of the producer.
2. An insurer or authorized representative of the insurer that terminates the appointment, employment, or contract with a producer for any reason not set forth in section 375.1981, shall notify the director within thirty days following the effective date of the termination, using a format prescribed by the director. Upon written request of the director, the insurer shall provide additional information, documents, records or other data pertaining to the termination.
3. The insurer or the authorized representative of the insurer shall promptly notify the director in a format acceptable to the director if, upon further review or investigation, the insurer discovers additional information that would have been reportable to the director in accordance with subsection 1 of this section had the insurer then known of its existence.
4. (1) Within fifteen days after making the notification required by subsections 1, 2 and 3 of this section, the insurer shall mail a copy of the notification to the producer at his or her last known address. If the producer is terminated for cause for any of the reasons listed in section 375.1981, the insurer shall provide a copy of the notification to the producer at his or her last known address by certified mail, return receipt requested, postage prepaid or by overnight delivery using a nationally recognized carrier.
(2) Within thirty days after the producer has received the original or additional notification, the producer may file written comments concerning the substance of the notification with the director. The producer shall, by the same means, simultaneously send a copy of the comments to the reporting insurer, and the comments shall become a part of the director's file and accompany every copy of a report distributed or disclosed for any reason about the producer as permitted under subsection 5 of this section.
5. (1) In the absence of actual malice, an insurer, the authorized representative of the insurer, a producer, the director, or an organization of which the director is a member and that compiles the information and makes it available to other insurance commissioners or regulatory or law enforcement agencies shall not be subject to civil liability, and a civil cause of action of any nature shall not arise against these entities or their respective agents or employees, as a result of any statement or information required by or provided pursuant to this section or any information relating to any statement that may be requested in writing by the director, from an insurer or producer; or a statement by a terminating insurer or producer to an insurer or producer limited solely and exclusively to whether a termination for cause under subsection 1 of this section was reported to the director, provided that the propriety of any termination for cause under subsection 1 is certified in writing by an officer or authorized representative of the insurer or producer terminating the relationship.
(2) In any action brought against a person that may have immunity pursuant to subdivision (1) of this section for making any statement required by this section or providing any information relating to any statement that may be requested by the director, the party bringing the action shall plead specifically in any allegation that subdivision (1) of this subsection does not apply because the person making the statement or providing the information did so with actual malice.
(3) Subdivisions (1) or (2) of this subsection shall not abrogate or modify any existing statutory or common law privileges or immunities.
6. (1) Any documents, materials or other information furnished by an insurer, producer or an employee or agent thereof acting on behalf of the insurer or producer, or obtained by the director in an investigation pursuant to this section shall be confidential by law and privileged, shall not be subject to sections 610.010 to 610.028, shall not be subject to subpoena, and shall not be subject to discovery or admissible in evidence in any private civil action. However, the director is authorized to use the documents, materials or other information in the furtherance of any regulatory or legal action brought as a part of the director's duties.
(2) Neither the director nor any person who received documents, materials or other information while acting under the authority of the director shall be permitted or required to testify in any private civil action concerning any confidential documents, materials, or information subject to subdivision (1) of this subsection.
(3) In order to assist in the performance of the director's duties pursuant to sections 375.1950 to 375.1996, the director:
(a) May share documents, materials or other information, including the confidential and privileged documents, materials or information subject to subdivision (1) of this subsection, with other state, federal, and international regulatory agencies, with the National Association of Insurance Commissioners, its affiliates or subsidiaries, and with state, federal, and international law enforcement authorities, provided that the recipient agrees to maintain the confidentiality and privileged status of the document, material or other information;
(b) May receive documents, materials or information, including otherwise confidential and privileged documents, materials or information, from the National Association of Insurance Commissioners, and from regulatory and law enforcement officials of other foreign or domestic jurisdictions, and shall maintain as confidential or privileged any document, material or information received with notice or the understanding that it is confidential or privileged under the laws of the jurisdiction that is the source of the document, material or information; and
(c) May enter into agreements governing sharing and use of information consistent with this subsection.
(4) No waiver of an existing privilege or claim of confidentiality in the documents, materials, or information shall occur as a result of sharing as authorized in subdivision (3) of this subsection.
(5) Nothing in section 375.1950 to 375.1996 shall prohibit the director from releasing final, adjudicated actions including for cause terminations that are open to public inspection to a database or other clearinghouse service maintained by the National Association of Insurance Commissioners, its affiliates or subsidiaries of the National Association of Insurance Commissioners.
7. An insurer, the authorized representative of the insurer, or producer that fails to report as required under the provisions of this section or that is found to have reported with actual malice by a court of competent jurisdiction may, after notice and hearing, have its license or certificate of authority suspended or revoked.
375.1993. 1. The director shall not assess a greater fee for an insurance license or related service to a person not residing in this state based solely on the fact that the person does not reside in this state.
2. The director may waive any license application requirements for an applicant with a valid license from another state or jurisdiction that has license requirements substantially equivalent to those of Missouri or if the waiver is necessary to promote uniformity between the various states with regard to insurance producer licensing requirements.
375.1996. 1. A producer shall report to the director any administrative action taken against the producer in another jurisdiction or by another governmental agency in Missouri within thirty days of the final disposition of the matter. This report shall include a copy of the order, consent to order or other relevant legal documents.
2. Within thirty days of the initial pretrial hearing date, a producer shall report to the director any criminal prosecution of the producer taken in any jurisdiction. The report shall include a copy of the initial complaint filed, the order resulting from the hearing and any other relevant legal documents.
Section B. The repeal of sections 375.014, 375.016, 375.017, 375.018, 375.019, 375.022, 375.021, 375.025, 375.027, 375.071, 375.076, 375.081, 375.086, 375.091, 375.096, 375.101, 375.106, 375.116, 375.126 and 375.141, the repeal and reenactment of section 375.020 and the enactment of sections 375.1950, 375.1953, 375.1956, 375.1959, 375.1962, 375.1965, 375.1968, 375.1971, 375.1974, 375.1978, 375.1981, 375.1984, 375.1987, 375.1990, 375.1993 and 375.1996 shall become effective January 1, 2002.