Missouri § 379.1306 Capital and surplus requirements.

Missouri Statutes

§ 379.1306 — Capital and surplus requirements.

Missouri § 379.1306

Title XXIVBUSINESS AND FINANCIAL INSTITUTIONS

Ch. 379Insurance Other Than Life

This text of Missouri § 379.1306 (Capital and surplus requirements.) is published on Counsel Stack Legal Research, covering Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mo. Rev. Stat. § 379.1306 (2026).

Text

1. No captive insurance company shall be issued a license unless it shall possess and thereafter maintain unimpaired paid-in capital and surplus of:

(1)In the case of a pure captive insurance company, not less than two hundred fifty thousand dollars;

(2)In the case of an association captive insurance company, not less than five hundred thousand dollars;

(3)In the case of an industrial insured captive insurance company, not less than five hundred thousand dollars; and

(4)In the case of a sponsored captive insurance company, not less than five hundred thousand dollars. 2. The director may prescribe additional capital and surplus based upon the type, volume, and nature of insurance business transacted. 3. Capital and surplus may be in the form of cash or an irrevocable letter

Free access — add to your briefcase to read the full text and ask questions with AI

1. No captive insurance company shall be issued a license unless it shall possess and thereafter maintain unimpaired paid-in capital and surplus of:

(1) In the case of a pure captive insurance company, not less than two hundred fifty thousand dollars;

(2) In the case of an association captive insurance company, not less than five hundred thousand dollars;

(3) In the case of an industrial insured captive insurance company, not less than five hundred thousand dollars; and

(4) In the case of a sponsored captive insurance company, not less than five hundred thousand dollars.

2. The director may prescribe additional capital and surplus based upon the type, volume, and nature of insurance business transacted.

3. Capital and surplus may be in the form of cash or an irrevocable letter of credit issued by a bank chartered by the state of Missouri or a member bank of the Federal Reserve System, and approved by the director.