Missouri Revised Statutes













Chapter 380

County, Town and Farmers' Mutual Property Insurance Companies

←380.151

Section 380.201.1

380.211→

August 28, 2015

Definitions.

380.201. As used in sections 380.201 to 380.601, unless the context

clearly indicates otherwise, the following terms mean:



(1) "Assessment", the amount, or the policyholder's share of such amount,

determined by the company to be necessary to pay accrued liabilities, to meet

or defray anticipated needs of the company and/or to add to or restore the

guaranty fund;



(2) "Director", the director of the department of insurance, financial

institutions and professional registration of the state of Missouri;



(3) "Fee", the charge or that portion of such charge collected by the

company which is used for or allocated to the payment of acquisition or

survey costs;



(4) "Guaranty fund", accumulated assets in excess of accrued losses and

expenses;



(5) "Initial charge", such charge or that portion of such charge not

otherwise defined herein collected by the company before or at the time of

the issuance or the renewal of the policy and used for, or allocated to, any

purpose which the company deems desirable not prohibited by law;



(6) "Premium", a stipulated amount charged for a specified policy period,

which the company is required to charge as a liability and maintain as an

unearned premium reserve until the end of the specified policy period.



(L. 1984 H.B. 1498)



Effective 1-1-85







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