MO SB434

Amends Section 382.210, RSMo to explicitly include health insurers alongside life, title, and property and casualty insurance companies in regulations governing extraordinary dividend payments to shareholders

Registered insurers must notify the director 30 days before paying extraordinary dividends, which are defined as distributions exceeding either 10% of policyholder surplus or net income/net gain from operations for the preceding 12-month period ending December 31

Health insurers will use "net income" as the calculation basis for determining extraordinary dividends, the same standard applied to property and casualty insurers

Life, title, and property and casualty insurers may only pay shareholder dividends from earned surplus unless the director grants prior approval for dividends from other sources

Extraordinary dividends require that the company's policyholder surplus remain reasonable relative to outstanding liabilities and adequate for financial needs after the transaction is completed