Missouri § 375.1117 - Transactions between insurer and broker, written authorization required — contents.
Full text of Missouri Revised Statutes of Missouri § 375.1117 — Transactions between insurer and broker, written authorization required — contents., with citation guidance and answers to common questions.
§ 375.1117. Transactions between insurer and broker, written authorization required — contents.
Transactions between an RB and the insurer it represents in such capacity shall only be entered into pursuant to a written authorization, specifying the responsibilities of each party. The authorization shall, at a minimum, contain provisions that:
(1) The insurer may terminate the RB's authority at any time;
(2) The RB shall render accounts to the insurer accurately detailing all material transactions, including information necessary to support all commissions, charges and other fees received by or owing to the RB, and remit all funds due to the insurer within thirty days of receipt;
(3) All funds collected for the insurer's account shall be held by the RB in a fiduciary capacity in a bank which is a qualified United States financial institution;
(4) The RB shall comply with section 375.1120;
(5) The RB shall comply with the written standards established by the insurer for the cession or retrocession of all risks;
(6) The RB shall disclose to the insurer any relationship with any reinsurer to which business will be ceded or retroceded.
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(L. 1991 H.B. 385, et al. § 40)
Effective 7-01-92, see § 375.1140
---- end of effective 01 Jul 1992 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 375.1117
What does Revised Statutes of Missouri § 375.1117 cover?
Section 375.1117 ("Transactions between insurer and broker, written authorization required — contents.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 375.1117?
A common citation format is "Revised Statutes of Missouri § 375.1117" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 375.1117 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.