Section 287.937 Director may conduct examinations — insurer and advisory organizations to maintain records, purpose — cost of examination

Section 287.937 Director may conduct examinations — insurer and advisory organizations to maintain records, purpose — cost of examination — outstate examination may be accepted.

MO Rev Stat § 287.937 (2019) (N/A)

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Effective 01 Jan 1994, see footnote

287.937. Director may conduct examinations — insurer and advisory organizations to maintain records, purpose — cost of examination — outstate examination may be accepted. — 1. The director may examine any insurer and the advisory organization as deemed necessary to ascertain compliance with sections 287.930 to 287.975.

2. Every insurer and the advisory organization shall maintain reasonable records of the type and kind reasonably adapted to its method of operation containing its experiences or the experience of its members including the data, statistics or information collected or used by it in its activities. These records shall be available at all reasonable times to enable the director to determine whether the activities of the advisory organization, insurer or association comply with the provisions of sections 287.930 to 287.975. Such records shall be maintained in an office within this state or shall be made available to the director for examination or inspection at any time upon reasonable notice.

3. The reasonable cost of an examination made pursuant to this section shall be paid by the examined party upon presentation of a detailed account of such costs.

4. In lieu of any such examination the director may accept the report of an examination by the insurance supervisory official of another state, made pursuant to the laws of such state.

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(L. 1993 S.B. 251 § 20)

Effective 1-01-94

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