State Codes and Statutes
Statutes > Missouri > T24 > C379 > 379_1312Reports required.
379.1312. 1. Captive insurance companies shall not be required tomake any annual report except as provided in sections 379.1300 to 379.1350.
2. Prior to March first of each year, each captive insurance companyshall submit to the director a report of its financial condition, verifiedby oath of two of its executive officers. Each captive insurance companyshall report using generally accepted accounting principles, unless thedirector approves the use of statutory accounting principles, with anyappropriate or necessary modifications or adaptations thereof required orapproved or accepted by the director for the type of insurance and kinds ofinsurers to be reported upon, and as supplemented by additional informationrequired by the director. Except as otherwise provided, each associationcaptive insurance company shall file its report in the form required bysection 375.041, RSMo. The director shall by rule propose the forms inwhich pure captive insurance companies and industrial insured captiveinsurance companies shall report. Subdivision (3) of subsection 2 ofsection 379.1302 shall apply to each report filed under this section.
3. Any pure captive insurance company or an industrial insuredcaptive insurance company may make written application for filing therequired report on a fiscal year end. If an alternative reporting date isgranted:
(1) The annual report is due sixty days after the fiscal year end;and
(2) In order to provide sufficient detail to support the premium taxreturn, the pure captive insurance company or industrial insured captiveinsurance company shall file prior to March first of each year for eachcalendar year end its balance sheet, income statement and statement of cashflows, verified by oath of two of its executive officers.
(L. 2007 S.B. 215)
