2011 Missouri Revised Statutes
TITLE XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 374 Registration
Section 374.120. Director to appoint employees--legal counsel--reinsurance analyst, qualifications.

374.120. 1. The director shall appoint and employ such clerks and clerical and other help which are necessary for a proper dispatch of the business of the department of insurance, financial institutions and professional registration at salaries as now or hereafter provided by law, and may employ such actuarial work to be done as may be necessary, all of which expense shall be paid as provided for by section 374.160, out of the amount appropriated by law from the fees collected by the department of insurance, financial institutions and professional registration.

2. The director shall appoint and employ legal counsel regarding the enforcing of the insurance laws of the state; provided, however, that with respect to criminal prosecutions, the attorney general shall be the legal adviser to the director. All counsel employed by the legal section shall be attorneys licensed to practice law in the state of Missouri and the general counsel shall be subject to removal at the pleasure of the director. In addition, the general counsel shall have had at least two years of experience in the areas of insurance law, insurance regulation or insurance litigation, or any combination thereof. The general counsel may receive an annual salary of up to one thousand dollars less than the annual salary paid the director. The director may assign legal counsel to specific divisions established pursuant to section 374.075. Legal counsel may act as hearing officers at any hearing before the department of insurance, financial institutions and professional registration, but may not act as a hearing officer in any contested case brought to the director from a division to which legal counsel was assigned.

3. The director may also employ suitable persons to make examinations as to the solvency or market conduct of companies when he deems it necessary.

4. The director shall also employ a reinsurance analyst to assist the department in carrying out its responsibilities regarding reinsurers as are provided for by law. The reinsurance analyst shall have knowledge of the state's insurance laws and regulations, shall have a degree in accounting, and shall be able to meet the requirements of an Associate in Reinsurance of the American Institute of Property and Liability Underwriters within two years of appointment, or comparable standards as provided for by regulation, and have at least three years' experience in insurance or reinsurance matters.

5. The director shall not employ any person in any capacity who is an officer, agent or employee of any insurance company or association.

(RSMo 1939 5788, A. 1949 H.B. 2115, A.L. 1990 H.B. 1739, A.L. 1991 H.B. 575)

Prior revisions: 1929 5678; 1919 6089; 1909 6883

Effective 6-26-91

Annotation Copyright Missouri Joint Committee on Legislative Research