379.1300. As used in sections 379.1300 to 379.1350, the followingterms shall mean:
(1) "Affiliated company", any company in the same corporate system asa parent, an industrial insured, or a member organization by virtue ofcommon ownership, control, operation, or management;
(2) "Alien captive insurance company", any insurance company formedto write insurance business for its parents and affiliates and licensedunder the laws of an alien jurisdiction that imposes statutory orregulatory standards in a form acceptable to the director on companiestransacting the business of insurance in such jurisdiction;
(3) "Annuity", a contract issued for a valuable consideration underwhich the obligations are assumed with respect to periodic payments for aspecified term or terms or where the making or continuance of all or ofsome of such payments, or the amount of any such payments, is dependentupon the continuance of human life;
(4) "Association", any legal association of individuals,corporations, limited liability companies, partnerships, associations, orother entities that has been in continuous existence for at least one year,the member organizations of which or which does itself, whether or not inconjunction with some or all of the member organizations:
(a) Own, control, or hold with power to vote all of the outstandingvoting securities of an association captive insurance company incorporatedas a stock insurer; or
(b) Have complete voting control over an association captiveinsurance company incorporated as a mutual insurer; or
(c) Constitute all of the subscribers of an association captiveinsurance company formed as a reciprocal insurer;
(5) "Association captive insurance company", any company that insuresrisks of the member organizations of the association and their affiliatedcompanies; except that, association captive insurance company shall notinclude, without limitation, any reciprocal insurer that has not chosen toapply for and is not licensed as a captive insurance company under section379.1302;
(6) "Branch business", any insurance business transacted by a branchcaptive insurance company in this state;
(7) "Branch captive insurance company", any alien captive insurancecompany licensed by the director to transact the business of insurance inthis state through a business unit with a principal place of business inthis state;
(8) "Branch operations", any business operations of a branch captiveinsurance company in this state;
(9) "Captive insurance company", any pure captive insurance company,association captive insurance company, or industrial insured captiveinsurance company formed or licensed under sections 379.1300 to 379.1350.For purposes of sections 379.1300 to 379.1350, a branch captive insurancecompany shall be a pure captive insurance company with respect tooperations in this state, unless otherwise permitted by the director;
(10) "Controlled unaffiliated business", any company:
(a) That is not in the corporate system of a parent and affiliatedcompanies;
(b) That has an existing contractual relationship with a parent oraffiliated company; and
(c) Whose risks are managed by a pure captive insurance company inaccordance with section 379.1338;
(11) "Director", the director of the department of insurance,financial institutions and professional registration;
(12) "Excess workers' compensation insurance", in the case of anemployer that has insured or self-insured its workers' compensation risksin accordance with applicable state or federal law, insurance in excess ofa specified per-incident or aggregate limit established by the director;
(13) "Industrial insured", an insured:
(a) Who procures the insurance of any risk or risks by use of theservices of a full-time employee acting as an insurance manager or buyer;
(b) Whose aggregate annual premiums for insurance on all risks totalat least twenty-five thousand dollars; and
(c) Who has at least twenty-five full-time employees;
(14) "Industrial insured captive insurance company", any company thatinsures risks of the industrial insureds that comprise the industrialinsured group and their affiliated companies;
(15) "Industrial insured group", any group of industrial insuredsthat collectively:
(a) Own, control, or hold with power to vote all of the outstandingvoting securities of an industrial insured captive insurance companyincorporated as a stock insurer; or
(b) Have complete voting control over an industrial insured captiveinsurance company incorporated as a mutual insurer;
(16) "Member organization", any individual, corporation, limitedliability company, partnership, association, or other entity that belongsto an association;
(17) "Mutual corporation", a corporation organized withoutstockholders and includes a nonprofit corporation with members;
(18) "Parent", a corporation, limited liability company, partnership,other entity, or individual that directly or indirectly owns, controls, orholds with power to vote more than fifty percent of the outstanding voting:
(a) Securities of a pure captive insurance company organized as astock corporation; or
(b) Membership interests of a pure captive insurance companyorganized as a nonprofit corporation;
(19) "Pure captive insurance company", any company that insures risksof its parent and affiliated companies or controlled unaffiliated business.
379.1300. As used in sections 379.1300 to 379.1350, the followingterms shall mean:
(1) "Affiliated company", any company in the same corporate system asa parent, an industrial insured, or a member organization by virtue ofcommon ownership, control, operation, or management;
(2) "Alien captive insurance company", any insurance company formedto write insurance business for its parents and affiliates and licensedunder the laws of an alien jurisdiction that imposes statutory orregulatory standards in a form acceptable to the director on companiestransacting the business of insurance in such jurisdiction;
(3) "Annuity", a contract issued for a valuable consideration underwhich the obligations are assumed with respect to periodic payments for aspecified term or terms or where the making or continuance of all or ofsome of such payments, or the amount of any such payments, is dependentupon the continuance of human life;
(4) "Association", any legal association of individuals,corporations, limited liability companies, partnerships, associations, orother entities that has been in continuous existence for at least one year,the member organizations of which or which does itself, whether or not inconjunction with some or all of the member organizations:
(a) Own, control, or hold with power to vote all of the outstandingvoting securities of an association captive insurance company incorporatedas a stock insurer; or
(b) Have complete voting control over an association captiveinsurance company incorporated as a mutual insurer; or
(c) Constitute all of the subscribers of an association captiveinsurance company formed as a reciprocal insurer;
(5) "Association captive insurance company", any company that insuresrisks of the member organizations of the association and their affiliatedcompanies; except that, association captive insurance company shall notinclude, without limitation, any reciprocal insurer that has not chosen toapply for and is not licensed as a captive insurance company under section379.1302;
(6) "Branch business", any insurance business transacted by a branchcaptive insurance company in this state;
(7) "Branch captive insurance company", any alien captive insurancecompany licensed by the director to transact the business of insurance inthis state through a business unit with a principal place of business inthis state;
(8) "Branch operations", any business operations of a branch captiveinsurance company in this state;
(9) "Captive insurance company", any pure captive insurance company,association captive insurance company, or industrial insured captiveinsurance company formed or licensed under sections 379.1300 to 379.1350.For purposes of sections 379.1300 to 379.1350, a branch captive insurancecompany shall be a pure captive insurance company with respect tooperations in this state, unless otherwise permitted by the director;
(10) "Controlled unaffiliated business", any company:
(a) That is not in the corporate system of a parent and affiliatedcompanies;
(b) That has an existing contractual relationship with a parent oraffiliated company; and
(c) Whose risks are managed by a pure captive insurance company inaccordance with section 379.1338;
(11) "Director", the director of the department of insurance,financial institutions and professional registration;
(12) "Excess workers' compensation insurance", in the case of anemployer that has insured or self-insured its workers' compensation risksin accordance with applicable state or federal law, insurance in excess ofa specified per-incident or aggregate limit established by the director;
(13) "Industrial insured", an insured:
(a) Who procures the insurance of any risk or risks by use of theservices of a full-time employee acting as an insurance manager or buyer;
(b) Whose aggregate annual premiums for insurance on all risks totalat least twenty-five thousand dollars; and
(c) Who has at least twenty-five full-time employees;
(14) "Industrial insured captive insurance company", any company thatinsures risks of the industrial insureds that comprise the industrialinsured group and their affiliated companies;
(15) "Industrial insured group", any group of industrial insuredsthat collectively:
(a) Own, control, or hold with power to vote all of the outstandingvoting securities of an industrial insured captive insurance companyincorporated as a stock insurer; or
(b) Have complete voting control over an industrial insured captiveinsurance company incorporated as a mutual insurer;
(16) "Member organization", any individual, corporation, limitedliability company, partnership, association, or other entity that belongsto an association;
(17) "Mutual corporation", a corporation organized withoutstockholders and includes a nonprofit corporation with members;
(18) "Parent", a corporation, limited liability company, partnership,other entity, or individual that directly or indirectly owns, controls, orholds with power to vote more than fifty percent of the outstanding voting:
(a) Securities of a pure captive insurance company organized as astock corporation; or
(b) Membership interests of a pure captive insurance companyorganized as a nonprofit corporation;
(19) "Pure captive insurance company", any company that insures risksof its parent and affiliated companies or controlled unaffiliated business.
379.1300. As used in sections 379.1300 to 379.1350, the followingterms shall mean:
(1) "Affiliated company", any company in the same corporate system asa parent, an industrial insured, or a member organization by virtue ofcommon ownership, control, operation, or management;
(2) "Alien captive insurance company", any insurance company formedto write insurance business for its parents and affiliates and licensedunder the laws of an alien jurisdiction that imposes statutory orregulatory standards in a form acceptable to the director on companiestransacting the business of insurance in such jurisdiction;
(3) "Annuity", a contract issued for a valuable consideration underwhich the obligations are assumed with respect to periodic payments for aspecified term or terms or where the making or continuance of all or ofsome of such payments, or the amount of any such payments, is dependentupon the continuance of human life;
(4) "Association", any legal association of individuals,corporations, limited liability companies, partnerships, associations, orother entities that has been in continuous existence for at least one year,the member organizations of which or which does itself, whether or not inconjunction with some or all of the member organizations:
(a) Own, control, or hold with power to vote all of the outstandingvoting securities of an association captive insurance company incorporatedas a stock insurer; or
(b) Have complete voting control over an association captiveinsurance company incorporated as a mutual insurer; or
(c) Constitute all of the subscribers of an association captiveinsurance company formed as a reciprocal insurer;
(5) "Association captive insurance company", any company that insuresrisks of the member organizations of the association and their affiliatedcompanies; except that, association captive insurance company shall notinclude, without limitation, any reciprocal insurer that has not chosen toapply for and is not licensed as a captive insurance company under section379.1302;
(6) "Branch business", any insurance business transacted by a branchcaptive insurance company in this state;
(7) "Branch captive insurance company", any alien captive insurancecompany licensed by the director to transact the business of insurance inthis state through a business unit with a principal place of business inthis state;
(8) "Branch operations", any business operations of a branch captiveinsurance company in this state;
(9) "Captive insurance company", any pure captive insurance company,association captive insurance company, or industrial insured captiveinsurance company formed or licensed under sections 379.1300 to 379.1350.For purposes of sections 379.1300 to 379.1350, a branch captive insurancecompany shall be a pure captive insurance company with respect tooperations in this state, unless otherwise permitted by the director;
(10) "Controlled unaffiliated business", any company:
(a) That is not in the corporate system of a parent and affiliatedcompanies;
(b) That has an existing contractual relationship with a parent oraffiliated company; and
(c) Whose risks are managed by a pure captive insurance company inaccordance with section 379.1338;
(11) "Director", the director of the department of insurance,financial institutions and professional registration;
(12) "Excess workers' compensation insurance", in the case of anemployer that has insured or self-insured its workers' compensation risksin accordance with applicable state or federal law, insurance in excess ofa specified per-incident or aggregate limit established by the director;
(13) "Industrial insured", an insured:
(a) Who procures the insurance of any risk or risks by use of theservices of a full-time employee acting as an insurance manager or buyer;
(b) Whose aggregate annual premiums for insurance on all risks totalat least twenty-five thousand dollars; and
(c) Who has at least twenty-five full-time employees;
(14) "Industrial insured captive insurance company", any company thatinsures risks of the industrial insureds that comprise the industrialinsured group and their affiliated companies;
(15) "Industrial insured group", any group of industrial insuredsthat collectively:
(a) Own, control, or hold with power to vote all of the outstandingvoting securities of an industrial insured captive insurance companyincorporated as a stock insurer; or
(b) Have complete voting control over an industrial insured captiveinsurance company incorporated as a mutual insurer;
(16) "Member organization", any individual, corporation, limitedliability company, partnership, association, or other entity that belongsto an association;
(17) "Mutual corporation", a corporation organized withoutstockholders and includes a nonprofit corporation with members;
(18) "Parent", a corporation, limited liability company, partnership,other entity, or individual that directly or indirectly owns, controls, orholds with power to vote more than fifty percent of the outstanding voting:
(a) Securities of a pure captive insurance company organized as astock corporation; or
(b) Membership interests of a pure captive insurance companyorganized as a nonprofit corporation;
(19) "Pure captive insurance company", any company that insures risksof its parent and affiliated companies or controlled unaffiliated business.
