State Codes and Statutes
Statutes > Missouri > T24 > C379 > 379_1318Investment requirements, compliance with.
379.1318. 1. Association captive insurance companies shall complywith the investment requirements contained in chapter 375, RSMo, andsections 379.080 and 379.082, as applicable. Investments of associationcaptive insurance companies shall be valued in accordance with thevaluation procedures established by the National Association of InsuranceCommissioners for insurance companies, except to the extent it isinconsistent with accounting standards in use by the company and approvedby the director. Notwithstanding any other provision of sections 379.1300to 379.1350, the director may approve the use of alternative reliablemethods of valuation and rating.
2. No pure captive insurance company or industrial insured captiveinsurance company shall be subject to any restrictions on allowableinvestments whatever, including those limitations contained in sections379.080 and 379.082; provided, however, that the director may prohibit orlimit any investment that threatens the solvency or liquidity of any suchcompany.
3. No pure captive insurance company shall make a loan to or aninvestment in its parent company or affiliates without prior writtenapproval of the director, and any such loan or investment shall beevidenced by documentation approved by the director.
(L. 2007 S.B. 215)
