Custody of Corporate Records of Extended Missouri Mutuals

PURPOSE: Since the Department of Commerce and Insurance does not have the facilities to maintain the actual records of extended Missouri mutual insurance companies, this rule allows the secretary of state’s office, which has this capability, to do so on behalf of the Department of Commerce and Insurance. (1) The secretary of state is appointed as custodian of all the corporate records and papers of extended Missouri mutuals operating under the provisions of sections 380.201–380.591, RSMo (1986). (2) Whenever any company operating under the provisions of sections 380.011–380.151, RSMo (1986) shall elect to come under the provisions of sections 380.201–380.591, RSMo (1986), the secretary of state shall transfer to the director of insurance all records and papers filed in the Office of the Secretary of State by the company so that the Department of Commerce and Insurance may make microfilm copies of the records and papers. Once they have been microfilmed, the director of insurance shall transfer the original records and papers back to the secretary of state so that they may be maintained in the same manner as for any other insurance company. AUTHORITY: sections 374.045, 380.221 and 380.561, RSMo 1986.* This rule was previously filed as 4 CSR 190-23.010. Original rule filed July 29, 1986, effective Dec. 11, 1986. Non-substantive change filed Sept. 11, 2019, published Oct. 31, 2019. *Original authority: 374.045, RSMo 1967, amended 1993, 1995; 380.221, RSMo 1984, amended 1992; and 380.561, RSMo 1984, amended 1993, 1995.