Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 700 - Insurance Licensing
Chapter 8 - Title Agencies and Title Agents
Section 20 CSR 700-8.005 - Scope and Definitions

Universal Citation: 20 MO Code of State Regs 700-8.005

Current through Register Vol. 49, No. 6, March 15, 2024

PURPOSE: This rule sets out the scope of the rules in this chapter and provides definitions to aid in the interpretation of the rules in this chapter.

(1) Applicability of Rules. The rules in this chapter apply to title agents and title agencies transacting the business of insurance in this state under Chapter 381, RSMo, including those licensed as insurance producers under section 375.018, RSMo. The rules shall be read together with Chapter 536, RSMo.

(2) Definitions.

(A) "Director," the director of the department;

(B) "Department," the Department of Insurance, Financial Institutions and Professional Registration;

(C) "Insurer" or "title insurer," an insurance company organized under the laws of this state, or another state or country, and transacting the business of title insurance in this state;

(D) "License," the authority granted by the director to any person to transact business as a title agent or title agency;

(E) "Licensee," a person authorized under an insurance producer license by this state to act as a title agent or title agency;

(F) "NAIC," the National Association of Insurance Commissioners;

(G) "NIPR," the National Insurance Producer Registry;

(H) "Title agency," any partnership, corporation, association, sole proprietorship, or any other legal entity not an individual, which as an agent of a title insurer or representative of the title agent or agency, transacts the business of title insurance; and

(I) "Title agent," any individual, who as an agent of a title insurer or representative of the title agent or agency, transacts the business of title insurance.

*Original authority: 374.045, RSMo 1967, amended 1993, 1995; 381.042, RSMo 2000, amended 2007; and 381.115, RSMo 2000, amended 2007.

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