MO SB392

Member representatives of fraternal benefit societies who devote less than 50% of their time to soliciting and procuring insurance contracts are exempt from agent licensing requirements

Removes the previous exemption that applied only to societies insuring members against accidental death, dismemberment, and disability with no commission-based premium collection

A member representative is presumed to devote 50% or more of their time to insurance solicitation if they procured over $50,000 in life insurance contracts in the preceding calendar year

For non-life insurance products, the 50% time threshold is presumed met if the representative solicited contracts for more than 25 individuals and received commission or compensation

Amends Section 378.633, RSMo, passed during the 98th General Assembly First Regular Session (2015)