Missouri § 375.1087 - Contributions to guaranty fund prohibited — guaranty fund to cover only specified risks.
Full text of Missouri Revised Statutes of Missouri § 375.1087 — Contributions to guaranty fund prohibited — guaranty fund to cover only specified risks., with citation guidance and answers to common questions.
§ 375.1087. Contributions to guaranty fund prohibited — guaranty fund to cover only specified risks.
1. No risk retention group shall be required or permitted to join or contribute financially to any insurance insolvency guaranty fund, or similar mechanism, in this state, nor shall any risk retention group, or its insureds or claimants against its insureds, receive any benefit from any such fund for claims arising under the insurance policies issued by such risk retention group.
2. When a purchasing group obtains insurance covering its members' risks from an insurer not authorized in this state or a risk retention group, no such risks, wherever resident or located, shall be covered by any insurance guaranty fund or similar mechanism in this state.
3. When a purchasing group obtains insurance covering its members' risks from an authorized insurer, only risks resident or located in this state shall be covered by any applicable state guaranty funds.
4. The director may require or exempt a risk retention group from participation in any mechanism established or authorized under the laws of this state for the equitable apportionment among insurers of liability insurance losses and expenses incurred on policies written through such mechanism, and such risk retention group shall submit sufficient information to the director to enable the director to apportion on a nondiscriminatory basis the risk retention group's proportionate share of such losses and expenses.
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(L. 1991 H.B. 385, et al. § 28)
---- end of effective 28 Aug 1991 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 375.1087
What does Revised Statutes of Missouri § 375.1087 cover?
Section 375.1087 ("Contributions to guaranty fund prohibited — guaranty fund to cover only specified risks.") 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 § 375.1087?
A common citation format is "Revised Statutes of Missouri § 375.1087" (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 § 375.1087 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.