PURPOSE: This regulation requires representatives of reciprocal and interinsurance exchanges to be licensed. This regulation is adopted pursuant to the provisions of section 374.045, RSMo and implements sections 20 CSR 700-1

375.012, 375.014, 375.016 and 375.018, RSMo.

1. (1) All persons who represent interinsurance exchanges or the attorney-in-fact for the exchanges and whose compensation is in part or in whole paid in the form of commissions on the business written or a portion of the deposit shall be duly licensed by this department.
2. (2) This order shall not apply to salaried representatives of the attorney-in-fact.

AUTHORITY: sections 374.045, RSMo (Cum. Supp. 1993), 375.012, 375.014, 375.016 and 375.018, RSMo (1986).* This rule was previously filed as 4 CSR 190-12.050. Original rule filed Dec. 5, 1969, effective Dec. 15, 1969. Amended: Filed Aug. 5, 1974, effective Aug. 15, 1974.

*Original authority: 374.045, RSMo (1967), amended 1993; 375.012 and 375.014, RSMo (1965), amended 1967; 375.016, RSMo (1965) amended 1967, 1981; and 375.018, RSMo (1965), amended 1967, 1981, 1984, 1985.