Mo. Code Regs. Ann. tit. 20, § 700-1.130
Appointment of Agents
Effective Nov 30, 1999section 375.022, RSMo Supp. 1998.* This rule was previously filed as 4 CSR 190-12.120. Original rule filed Aug. 8, 1989, effective Feb. 1, 1990. Amended: Filed April 12, 1999, effective Nov. 30, 1999. *Original authority: 375.022, RSMo 1967, 1981, 1991, 1998. 20 CSR 700-1Insurance Licensing
PURPOSE: The department defines appointment of an agent, as used in section 375.022, RSMo, so an insurance company knows what act(s) constitutes appointment of an agent to act for the insurance company.
(1) As used in section 375.022, RSMo appointment of an agent means the earliest on which an insurance company, or its authorized agent does any of the following:
- (A) Distributes an application form, which on its face requires submission of premium at the time of completing the application with a consumer, to the prospective agent, unless the application form is marked in bold type as a specimen;
- (B) Accepts premiums from the prospective insurance agent;
- (C) Accepts for underwriting an application for insurance submitted by the prospective insurance agent;
- (D) Executes a written or oral employment contract with the prospective insurance agent; or
- (E) Grants binding authority given to the prospective insurance agent.
(2) An insurer may appoint agents directly, by appointing individual agents, or by designating a licensed agency, which designation shall be deemed to appoint all agents employed by such agency pursuant to section 375.061, RSMo to act for the insurance company in the lines for which the agents are licensed and for which the agency has been designated by the insurance company.
- (A) Any agents listed or employed by an agency pursuant to section 375.061, RSMo after the designation of the agency by an insurer shall be deemed an appointment of such agents for all insurers with existing designations of the agency.
- (B) The appointment of an agent pursuant to this subsection shall terminate upon the agent’s termination or resignation from the agency with which the agent is listed or employed, upon termination of the agency by the insurer, or upon nonrenewal, suspension, revocation, or surrender of the agent’s license.
- (3) This rule does not apply to individuals licensed as insurance brokers in Missouri.
AUTHORITY: section 375.022, RSMo Supp. 1998.* This rule was previously filed as 4 CSR 190-12.120. Original rule filed Aug. 8, 1989, effective Feb. 1, 1990. Amended: Filed April 12, 1999, effective Nov. 30, 1999. *Original authority: 375.022, RSMo 1967, 1981, 1991, 1998. 20 CSR 700-1