Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 200 - Insurance Solvency and Company Regulation
Chapter 10 - Managing General Agent (MGA)
Section 20 CSR 200-10.300 - Annual Certification and Filing
Universal Citation: 20 MO Code of State Regs 200-10.300
Current through Register Vol. 49, No. 6, March 15, 2024
PURPOSE OF AMENDMENT: This amendment clarifies the rule, creates an alternative to the annual CPA audit, and removes a reference to 20 CSR 200-10.500 that will no longer be accurate when Form MGA-3 is removed from that rule.
PURPOSE: This rule implements and administers sections 375.147- 375.153, RSMo regarding annual certification and filing.
(1) Annual Certification and Filing. Each insurer which has appointed a managing general agent (MGA) annually each January 1 shall-
(A) Certify the existence or performance of
the continued obligations imposed by section
375.150,
RSMo by filing for each appointed MGA a completed certification on Form MGA-3
200-10.500); and
(B) File a copy
of the report of the most recent annual independent financial examination of
the MGA, which may be satisfied by either an audit by a certified public
accountant, or in some other form approved by the director.
*Original authority: 374.045, RSMo 1967 and 375.153, RSMo 1990.
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