PURPOSE: This regulation explains insurance agency licensing standards and procedures in Missouri. This regulation was adopted pursuant to the provisions of section 374.045, RSMo and implements and interprets sections 375.012 and 375.061, RSMo.

1. (1) Agency Defined.

   1. (A) An agency license must be obtained for each business entity meeting the definition of an insurance agency in section 375.012(3), RSMo.
   2. (B) The true name of an individual within the context of section 375.012(3), RSMo shall be considered his/her legal name, to include a given (first) name, middle initial and surname.
   3. (C) Any business entity subject to section 375.012, RSMo, where more than one (1) business agent or broker is employed in the solicitation, negotiation or procurement of insurance contracts and is not otherwise excepted by section 375.012, RSMo or other law, must be licensed as an insurance agency.
   4. (D) If a business entity is acting as an insurance agency under more than one (1) name or operates subsidiaries under differing names which also come within the definition of agency, all these subagencies must be licensed as agencies.

2. (2) Application.

   1. (A) The application required by section 375.061, RSMo must be completed on the form approved by the director of insurance by each applicant for licensure and accompanied by—

      1. 1. A copy of its registration of a ficti-

tious name as filed with the Missouri Secretary of State or its Certificate of Good Standing as issued by the Missouri Secretary of State or if neither of the previous is applicable, a current certification from the state or federal agency governing the applicant’s authority to do business that the applicant is then in good standing to do business; and

1. 2. The required fee in the amount

required by section 375.061, RSMo, in a form other than cash.

1. (3) Licensing Renewals. Agency licenses shall be renewed biennially on the anniversary date of the original license. Failure to renew an agency license shall cause the agency’s authority to lapse. There shall be a required fee for renewal of the agency’s license; the amount of which is specified by section 375.061, RSMo.

AUTHORITY: sections 374.045, 375.012, 375.013 and 375.022, RSMo Supp. 1998 and 375.014, 375.016, 375.017, 375.018, 375.019, 375.020, 375.021, 375.025, 375.027, 375.031, 375.033, 375.035, 375.037, 375.039, 375.041, 375.046, 375.051 and 375.061 RSMo 1994. This rule was previously filed as 4 CSR 190-12.090. Original rule filed Dec. 23, 1975, effective Jan. 2, 1976. Amended: Filed July 15, 1976, effective Dec. 20, 1976. Amended: Filed Oct. 14, 1981, effective Jan. 15, 1982. Amended: Filed April 28, 1994, effective Oct. 30, 1994. Amended: Filed April 23, 1999, effective Nov. 30, 1999. *Original authority: see Missouri Revised Statutes, 1994 and Cumulative Supplement to the Revised Statutes of the State of Missouri, 1998. Op. Atty. Gen. No. 286, Dalton (6-18-68). An insurance agency originally licensed after January 1, 1968, is required to pay an annual license fee of $25 on or before July 1, 1968, under the provisions of section 375.061, RSMo (Supp. 1967). Op. Atty. Gen. No. 177, Dill (5-2-68). “True name” as used in section 375.012, subsection (2), RSMo (Supp. 1967), means a person’s actual and not fictitious name and includes a surname, a first name and a middle name or initial. Op. Atty. Gen. No. 145, Scharz (9-15-66). A corporation may not be a licensed insurance agent. Therefore, an insurance company cannot pay agent’s commission to a corporate insurance agency.