380.011. Classification as Missouri mutual insurance companies — new companies prohibited.

327 words·~1 min read·/mo/chapter-380/380-011

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380.011. Classification as Missouri mutual insurance companies — new companies prohibited. — 1. All county mutual insurance companies, all town mutual insurance companies and all farmers' mutual insurance companies possessing a certificate of incorporation from the secretary of state and operating under sections 380.009 to 380.270 , 380.280 to 380.470 and 380.479 to 380.570 , respectively, shall be known as Missouri mutual insurance companies and shall after January 1, 1985, operate under the provisions of sections 380.011 to 380.151 .

Only those county mutual insurance companies, town mutual insurance companies and farmers' mutual insurance companies possessing a certificate of incorporation from the secretary of state upon January 1, 1985, shall operate under sections 380.011 to 380.151 , and no new companies shall be formed to operate under those sections of the Revised Statutes of Missouri.

2. All Missouri mutual insurance companies shall, within ninety days of January 1, 1985, file a registration statement with the director of the department of commerce and insurance which shall contain the name of the company, the location and address of its principal office, the names and addresses of its officers and directors, and shall be accompanied by copies of its articles of incorporation and bylaws. The director shall compile and maintain a list of all companies registered and operating under the provisions of sections 380.011 to 380.151 and shall file this list with the secretary of state on or before May 1, 1985.

3. If any county mutual insurance company, town mutual insurance company or farmers' mutual insurance company possessing a certificate of incorporation from the secretary of state and operating under the provisions of sections 380.009 to 380.270 , 380.280 to 380.470 or 380.479 to 380.570 , respectively, fails to file the required registration statement with the director of the department of commerce and insurance within ninety days of January 1, 1985, the secretary of state shall irrevocably forfeit the company's corporate charter.

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(L. 1984 H.B. 1498)

Effective 1-01-85