Insurance companies that offer workers' compensation insurance must keep a certain amount of money set aside (called a reserve) to pay claims. The state insurance director has the power to decide how much money must be kept in reserve.
287.340. Insurance companies must keep . — No shall write any insurance against hereunder unless it maintains such as are required by law, or in the absence thereof such reserves as may be required by the , the power to require and regulate which is hereby in said .
(RSMo 1939 § 3718)
Prior revision: 1929 § 3328
Tap any gold-underlined word to see what it means.
Related Missouri laws
Determinations review board, created, purpose
RSMo 287.335
Insurance companies to make report
RSMo 287.350
Director may suspend or revoke permits and ask for a receiver
RSMo 287.360
Policies to be approved by department
RSMo 287.310
Compensation in lieu of insurance, how provided
RSMo 287.370
Employer's liability primary or secondary
RSMo 287.300
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.