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SB 1359 - This act enacts the "Protecting Missouri's Mutual Insurance Companies Act". Under the act, chapter 380 shall be the sole authority of the Department of Commerce and Insurance over Missouri mutual insurance companies, and the provisions of that chapter shall not be waived. The act voids agreements between the Department and mutual insurers as to additional Department authority, but benefits, allowances, and concessions granted to the insurers shall remain in effect for the duration of the agreements. The act further enacts provisions relating to reinsurance requirements, Department review of proposed mergers between mutual insurance companies, and examinations of mutual insurance companies by the Department. ERIC VANDER WEERD
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