reglab/housing_qa huggingface dataset:
MO Rev Stat § 376.677 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 376 - Life, Health and Accident Insurance|Section 376.677 - Life policies may be issued that have no cash surrender value prior to death — no policy loans so law regulating not applicable — requirements to issue.

Effective - 28 Aug 1987   376.677. Life policies may be issued that have no cash surrender value prior to death — no policy loans so law regulating not applicable — requirements to issue. — 1. Notwithstanding any provision of section 376.670, to the contrary, after September 28, 1987, a company may issue policies of life insurance which differ from its existing or currently filed policies only in that they do not provide for any cash surrender value prior to the death of the life insured. If a policy provides for any cash surrender value, endowment, or pure endowment prior to the death of the life insured, this exemption shall not apply. Any policy without cash surrender values, for which one or more cash surrender values would otherwise have been required, shall contain on its first page a concise, exact description set out in contrasting type at least four points larger than used in the body of that page a statement in a prominent place that such values are not provided and that no policy loans are available under the policy. The company shall provide to each prospective purchaser of such a policy a policy summary, the form of which shall be filed for approval pursuant to section 376.675, which includes the same description as the policy, similarly displayed, and which shows the premium said company charges for the same policy when cash surrender values are included. Such policy summary shall be delivered before any premium is accepted.  2. Except for the requirement of payment upon surrender, the nonforfeiture amounts for such policies shall be subject to all provisions of chapter 376, which apply to the cash surrender values of otherwise similar life insurance policies with cash surrender values.  3. The insurance laws of this state relating to policy loans shall not apply to policies which do not provide cash surrender values. ­­-------- (L. 1987 H.B. 415 § 1)
MO Rev Stat § 376.678 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 376 - Life, Health and Accident Insurance|Section 376.678 - Life insurance policies and annuity contracts, annual statement to holder required — company to furnish policy or contract information to holder upon request.

Effective - 28 Aug 1987   376.678. Life insurance policies and annuity contracts, annual statement to holder required — company to furnish policy or contract information to holder upon request. — 1. Notwithstanding any other provision of law, all life insurance companies licensed to do business in this state shall furnish at least annually to each individual whole life policyholder and individual deferred annuity contractholder, a statement or notice providing sufficient information to permit identification of the policy or contract. Such identification notice shall include the name of the policyholder or contractholder, the policy or contract number and any premium payable.  2. Upon the request of the policyholder or an authorized representative, such company shall, within a reasonable period of time, furnish applicable information relating to the policy or contract, such as, type of plan, amount of insurance, policy values, policy loans or dividends. ­­-------- (L. 1987 S.B. 337 § 1)
MO Rev Stat § 376.679 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 376 - Life, Health and Accident Insurance|Section 376.679 - Life insurance company may reinsure for risks involving aircraft, limitation.

Effective - 01 Jan 1993   376.679. Life insurance company may reinsure for risks involving aircraft, limitation. — Any domestic life insurer or reinsurer may also reinsure, by itself, or together with other insurance companies, subject to any limitations, approval or rules promulgated by the director of the department of commerce and insurance, any risk arising from, related to, or incident to the manufacture, ownership or operation of aircraft. ­­-------- (L. 1992 S.B. 831 §§ A, 3)  Effective 1-01-93
MO Rev Stat § 376.680 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 376 - Life, Health and Accident Insurance|Section 376.680 - Assignment of incidents of ownership, group life policy, effect of.

Effective - 28 Aug 1971   376.680. Assignment of incidents of ownership, group life policy, effect of. — Subject to the terms of the policy relating to assignment of incidents of ownership thereunder, a person whose life is insured under a policy of group life insurance may assign any or all incidents of ownership granted him under such policy, including but not limited to any right to designate a beneficiary, to have an individual policy issued to him, and to pay premiums. Any assignment by the insured, made either before or after September 28, 1971, shall be valid for the purpose of vesting in the assignee in accordance with any provisions included therein as to the time at which it is to be effective, all of such incidents of ownership so assigned, but without prejudice to the insurer on account of any payment it may make or individual policy it may issue without notice of the assignment. ­­-------- (L. 1971 S.B. 125 § 1)
MO Rev Stat § 376.693 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 376 - Life, Health and Accident Insurance|Section 376.693 - Special group life policies, requirements — director's approval.

Effective - 28 Aug 1982   376.693. Special group life policies, requirements — director's approval. — Group life insurance offered to a resident of this state under a group life insurance policy issued to a group other than one described in section 376.691 shall be subject to the following requirements:  (1) No such group life insurance policy shall be delivered in this state unless the director of the department of commerce and insurance finds that:  (a) The issuance of such group policy is not contrary to the best interest of the public;  (b) The issuance of the group policy would be actuarially sound;  (c) The issuance of the group policy would result in economies of acquisition or administration; and  (d) The benefits are reasonable in relation to the premiums charged;  (2) No such group life insurance coverage may be offered in this state by an insurer under a policy issued in another state unless this state, or another state having requirements substantially similar to those contained in subdivision (1) of this section, has made a determination that such requirements have been met;  (3) The premium for the policy shall be paid either from the policyholder's funds or from funds contributed by the covered persons, or from both;  (4) An insurer may exclude or limit coverage on any person as to whom evidence of individual insurability is not satisfactory to the insurer. ­­-------- (L. 1982 H.B. 1546 § 2)
MO Rev Stat § 376.694 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 376 - Life, Health and Accident Insurance|Section 376.694 - Group life, definitions of direct response solicitation and sponsoring or endorsing entity — certain insurers required to give notice of compensation to policyholder or endorsing entity.

Effective - 28 Aug 1985   376.694. Group life, definitions of direct response solicitation and sponsoring or endorsing entity — certain insurers required to give notice of compensation to policyholder or endorsing entity. — 1. As used in this section, the following terms shall mean:  (1) "Direct response solicitation", a solicitation through a sponsoring or endorsing entity or through the mails, telephone, or other mass communications medium;  (2) "Sponsoring or endorsing entity", an organization which has arranged for the offering of a program of insurance in a manner which communicates that eligibility for participation in the program is dependent upon affiliation with such organization or that it endorses participation in the program.  2. With respect to a program of insurance, whether issued on an individual basis or a group basis, which would not qualify under subdivisions (1), (2), (3), (4) and (6) of section 376.691 if issued on a group basis, if compensation of any kind will or may be paid to a policyholder in the case of a group policy, or a sponsoring or endorsing entity in the case of individual, blanket or franchise policies marketed by means of direct response solicitation, the insurer shall cause to be distributed to prospective insureds a written notice that compensation will or may be paid.  3. Such notice shall be distributed whether compensation is direct or indirect and whether such compensation is paid to or retained by the policyholder or sponsoring or endorsing entity or paid to or retained by a third party at the direction of the policyholder or sponsoring or endorsing entity or any entity affiliated therewith by way of ownership, contract or employment.  4. The notice required by this section shall be placed on or accompany any application or enrollment form provided prospective insureds. ­­-------- (L. 1985 H.B. 623)
MO Rev Stat § 376.695 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 376 - Life, Health and Accident Insurance|Section 376.695 - Extension of policy to insure for loss due to death of spouse or dependent children, requirements, limitations.

Effective - 28 Aug 1985   376.695. Extension of policy to insure for loss due to death of spouse or dependent children, requirements, limitations. — Except for a policy issued under subdivision (2) of section 376.691, a group life insurance policy may be extended to insure the employees or members against loss due to the death of their spouses and dependent children, or any class or classes of such spouses or dependent children, subject to the following provisions:  (1) The premium for the insurance shall be paid either from funds contributed by the employer, union, association, or other person to whom the policy has been issued, or from funds contributed by the covered persons, or from both. Except as provided in subdivision (2) of this section, a policy on which no part of the premium for the spouse's and dependent child's coverage is to be derived from funds contributed by the covered persons must insure all eligible employees or members with respect to their spouses and dependent children, or any class or classes of such employees or members, except those who reject such coverage in writing;  (2) An insurer may exclude or limit the coverage on any spouse or dependent child as to whom evidence of individual insurability is not satisfactory to the insurer. ­­-------- (L. 1982 H.B. 1546 § 3, A.L. 1985 H.B. 623)
MO Rev Stat § 376.696 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 376 - Life, Health and Accident Insurance|Section 376.696 - Political subdivisions purchasing any insurance policies to submit to competitive bidding, when — renewal between bidding periods deemed extension.

Effective - 28 Aug 1985   376.696. Political subdivisions purchasing any insurance policies to submit to competitive bidding, when — renewal between bidding periods deemed extension. — Any other law to the contrary notwithstanding, no contract shall be entered into by the governing body of any political subdivision to purchase any insurance policy or policies unless the contract is submitted to competitive bidding at least every six years and the contract is awarded to the lowest or best bidder. The renewal of any insurance policy during any period between submissions of the contract to competitive bidding shall not constitute a separate and distinct contract for the time covered by the renewal but shall be treated only as an extension of an existing contract. ­­-------- (L. 1985 H.B. 623)
MO Rev Stat § 376.699 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 376 - Life, Health and Accident Insurance|Section 376.699 - Person insured by group policy entitled to individual life policy, notice requirements.

Effective - 28 Aug 1982   376.699. Person insured by group policy entitled to individual life policy, notice requirements. — If any individual insured under a group life insurance policy hereafter delivered in this state becomes entitled under the terms of such policy to have an individual policy of life insurance issued without evidence of insurability, subject to the making of an application and paying the first premium within the period specified in such policy, and if such individual is not given notice of the existence of such right at least fifteen days prior to the expiration date of such period, then, in such event, the individual shall have an additional period within which to exercise such right. Nothing contained herein shall be construed to continue any insurance beyond the period provided in such policy. The additional period provided in this section shall expire fifteen days after the individual is given the notice of his rights regarding an individual policy, but in no event shall such additional period extend beyond sixty days after the expiration date of the period provided in such policy. Written notice presented to the individual or mailed by the policyholder to the last known address of the individual, or mailed by the insurer to the last known address of the individual as furnished by the policyholder, shall constitute notice for the purpose of this section. ­­-------- (L. 1982 H.B. 1546 § 5)
MO Rev Stat § 376.700 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 376 - Life, Health and Accident Insurance|Section 376.700 - Purpose — use of additional material.

Effective - 28 Aug 1979   376.700. Purpose — use of additional material. — 1. The purpose of sections 376.700 to 376.714 is to require insurers to deliver to purchasers of life insurance, information which will improve the buyer's ability to select the most appropriate plan of life insurance for his needs, improve the buyer's understanding of the basic features of the policy which has been purchased or which is under consideration, and improve the ability of the buyer to evaluate the relative costs of similar plans of life insurance.  2. Sections 376.700 to 376.714 do not prohibit the use of additional material which is not in violation of sections 376.700 to 376.714 or any other state law or regulation. ­­-------- (L. 1979 H.B. 508 § 1)
MO Rev Stat § 376.702 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 376 - Life, Health and Accident Insurance|Section 376.702 - Application of law — exceptions.

Effective - 28 Aug 1979   376.702. Application of law — exceptions. — 1. Except as hereafter exempted, sections 376.700 to 376.714 shall apply to any solicitation, negotiation or procurement of life insurance occurring within this state. Sections 376.700 to 376.714 shall apply to every issuer of life insurance contracts including fraternal benefit societies.  2. Unless otherwise specifically included, the provisions of sections 376.700 to 376.714 shall not apply to:  (1) Annuities;  (2) Credit life insurance;  (3) Group life insurance;  (4) Life insurance policies issued in connection with pension and welfare plans as defined by and which are subject to the federal Employee Retirement Income Security Act of 1974 (ERISA); or  (5) Variable life insurance under which the death benefits and cash values vary in accordance with unit values of investments held in a separate account. ­­-------- (L. 1979 H.B. 508 § 2)
MO Rev Stat § 376.706 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 376 - Life, Health and Accident Insurance|Section 376.706 - Delivery of guide and summary required, when.

Effective - 28 Aug 1979   376.706. Delivery of guide and summary required, when. — 1. The insurer shall provide, to all prospective purchasers, a buyer's guide and a policy summary prior to accepting the applicant's initial premium or premium deposit, unless the policy for which application is made contains an unconditional refund provision of at least ten days or unless the policy summary contains such an unconditional refund offer, in which event the buyer's guide and policy summary must be delivered with the policy or prior to delivery of the policy.  2. The insurer shall provide a buyer's guide and a policy summary to any prospective purchaser upon request.  3. In the case of policies whose equivalent level death benefit does not exceed five thousand dollars, the requirement for providing a policy summary will be satisfied by delivery of a written statement containing the information described in section 376.704(7), items (b), (c), (d), (e)b., (e)c., (f), (g), (j) and (k). ­­-------- (L. 1979 H.B. 508 § 4)
MO Rev Stat § 376.708 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 376 - Life, Health and Accident Insurance|Section 376.708 - Required presentations and statements — company to maintain file.

Effective - 28 Aug 1979   376.708. Required presentations and statements — company to maintain file. — 1. Each insurer shall maintain at its home office or principal office, a complete file containing one copy of each document authorized by the insurer for use pursuant to sections 376.700 to 376.714. Such file shall contain one copy of each authorized form for a period of three years following the date of its last authorized use.  2. An agent shall inform the prospective purchaser, prior to commencing a life insurance sales presentation, that he is acting as a life insurance agent and inform the prospective purchaser of the full name of the insurance company which he is representing to the buyer. In sales situations in which an agent is not involved, the insurer shall identify its full name.  3. Terms such as financial planner, investment advisor, financial consultant, or financial counseling shall not be used in such a way as to imply that the insurance agent is generally engaged in an advisory business in which compensation is unrelated to sales unless such is actually the case.  4. Any reference to policy dividends must include a statement that dividends are not guaranteed.  5. A system or presentation which does not recognize the time value of money through the use of appropriate interest adjustments shall not be used for comparing the cost of two or more life insurance policies. Such a system may be used for the purpose of demonstrating the cash-flow pattern of a policy if such presentation is accompanied by a statement disclosing that the presentation does not recognize that, because of interest, a dollar in the future has less value than a dollar today.  6. A presentation of benefits shall not display guaranteed and nonguaranteed benefits as a single sum unless they are shown separately in close proximity thereto.  7. A statement regarding the use of the life insurance cost indexes shall include an explanation to the effect that the indexes are useful only for the comparison of the relative costs of two or more similar policies.  8. A life insurance cost index which reflects dividends or an equivalent level annual dividend shall be accompanied by a statement that it is based on the company's current dividend scale and is not guaranteed.  9. For the purposes of sections 376.700 to 376.714, the annual premium for a basic policy or rider, for which the company reserves the right to change the premium, shall be the maximum annual premium. ­­-------- (L. 1979 H.B. 508 § 5)
MO Rev Stat § 376.710 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 376 - Life, Health and Accident Insurance|Section 376.710 - Effect of omission.

Effective - 28 Aug 1979   376.710. Effect of omission. — Deliberate failure of an insurer to provide or deliver a buyer's guide, or a policy summary as provided in section 376.706 shall constitute an omission which misrepresents the benefits, advantages, conditions or terms of an insurance policy, and an agent's license may be revoked or suspended by the administrative hearing commission for such an omission. ­­-------- (L. 1979 H.B. 508 § 6)
MO Rev Stat § 376.712 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 376 - Life, Health and Accident Insurance|Section 376.712 - Effective date.

Effective - 28 Aug 1979   376.712. Effective date. — Sections 376.700 to 376.714 shall apply to all solicitations of life insurance which commence on or after January 1, 1980. ­­-------- (L. 1979 H.B. 508 § 7)
MO Rev Stat § 376.715 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 376 - Life, Health and Accident Insurance|Section 376.715 - Citation of law, purpose.

Effective - 28 Aug 2018, 2 histories   376.715. Citation of law, purpose. — 1. Sections 376.715 to 376.758 shall be known and may be cited as the "Missouri Life and Health Insurance Guaranty Association Act".  2. The purpose of sections 376.715 to 376.758 is to protect, subject to certain limitations, the persons specified in subsection 1 of section 376.717 against failure in the performance of contractual obligations, under life, health, and annuity policies, plans, or contracts specified in subsection 2 of section 376.717, because of the impairment or insolvency of the member insurer that issued the policies or contracts.  3. To provide this protection, an association of member insurers is created to pay benefits and to continue coverages as limited herein, and members of the association are subject to assessment to provide funds to carry out the purpose of sections 376.715 to 376.758. ­­-------- (L. 1988 S.B. 430 §§ 1, 2, A.L. 2018 H.B. 1690)
MO Rev Stat § 376.720 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 376 - Life, Health and Accident Insurance|Section 376.720 - Association, created — accounts — director to supervise.

Effective - 28 Aug 2018, 2 histories   376.720. Association, created — accounts — director to supervise. — 1. There is created a nonprofit legal entity to be known as the "Missouri Life and Health Insurance Guaranty Association". All member insurers shall be and remain members of the association as a condition of their authority to transact insurance or a health maintenance organization business in this state. The association shall perform its functions under the plan of operation established and approved under subsections 1 to 3 of section 376.740 and shall exercise its powers through a board of directors established pursuant to section 376.722. For purposes of administration and assessment the association shall maintain three accounts:  (1) The health account;  (2) The life insurance account;  (3) The annuity account, excluding unallocated annuity contracts.  2. The association shall come under the immediate supervision of the director and shall be subject to the applicable provisions of the insurance laws of this state. Meetings or records of the association may be opened to the public upon majority vote of the board of directors of the association. ­­-------- (L. 1988 S.B. 430 § 5, A.L. 2018 H.B. 1690)