Mo. Code Regs. tit. 12 § 10-25.110
Current through Register Vol. 49, No. 24, December 16, 2024
Section 12 CSR 10-25.110 - Application for Certificate of Self-InsurancePURPOSE: This rule establishes prerequisites necessary to apply for a self-insurance certificate pursuant to the provisions of section 303.220, RSMo (Senate Bill 424, 83rd General Assembly, Second Regular Session).
(1) The application for self-insurance authorization shall include the following: (A) A written request from the applicant and, if from a company or business, the written request must be on the company's letterhead and signed by an officer;(B) Financial statements, including balance sheets and income statements audited by an independent certified public accountant containing opinions of the statements for the preceding three (3) years; and(C) A list of all vehicles registered in the name of the company or individual. This list must contain at least twenty-six (26) vehicles and each vehicle must be described by make, model, year of manufacture, vehicle identification number, title number and vehicle registration number.(2) The director shall determine, after reviewing the application, if self-insurance authorization is granted or denied and the basis for the decision and the director shall advise the applicant of the decision in writing.(3) Self-insurance authorization shall be valid for one (1) year from the date approved by the director unless otherwise terminated.(4) Renewal of self-insurance authorization may be granted if the holder provides the financial statements described in subsection (1)(B) for the year preceding the date of application and a list of vehicles as described in subsection (1)(C).(5) The director shall issue a Certificate of Self-Insurance to an applicant qualifying for self-insurance authorization.(6) The director shall issue a sufficient number of identification cards for the self-insured vehicles as provided in section 303.220, RSMo.(7) The director, upon reasonable grounds and after giving ten (10) days' notice, shall cancel a Certificate of Self-Insurance. Reasonable grounds may include, but not be limited to, failure of the self-insured to settle a court judgment or notice of bankruptcy proceedings by the self-insured. The director shall notify the self-insured in writing of his/her decision and provide the self-insured an opportunity to have an administrative hearing. The administrative hearing shall be conducted in accordance with section 303.290, RSMo. AUTHORITY: section 303.290, RSMo 1986.* Original rule filed Sept. 8, 1989, effective Jan. 26, 1990. Amended: Filed Nov. 26, 1991, effective April 9, 1992. *Original authority 1953, amended 1957, 1986.