MO SB660

Requires the Missouri Employers Mutual Insurance Company board of directors to establish a successor mutual insurance company before January 1, 2013, operating as a private insurer under Department of Insurance regulation.

Mandates transfer of $127 million from the company's policyholder surplus funds to the state treasurer for the general revenue fund between July 1 and September 1, 2012.

Effective January 1, 2013, the successor company becomes the legal successor to all assets and liabilities of the original company by operation of law without requiring conveyance or transfer.

Prohibits the successor company from being called "Missouri Employers Mutual Insurance Company" or using terms like "state workers' compensation" in its name or logo after January 1, 2013.

Subjects the successor company to all private insurance carrier statutes and Department of Insurance jurisdiction, removing its status as an independent public corporation and state agency.