HB 1576 -- Department of Insurance, Financial Institutions, and
Professional Registration

Sponsor:  Wasson

The Governor's Executive Order 06-04 transferred all authority,
powers, duties, functions, records, personnel, property,
contracts, budgets, matters pending, and other pertinent issues
of the Division of Finance, State Banking Board, Division of
Credit Unions, and Division of Professional Registration from the
Department of Economic Development to the Department of Insurance
creating the Department of Insurance, Financial Institutions, and
Professional Registration.  This bill allows the Revisor of
Statutes to change all references in the Revised Statutes of
Missouri from "department of insurance," "insurance department,"
or "department of insurance, financial and professional
regulation" to the "department of insurance, financial
institutions and professional registration."

The bill also:

(1)  Establishes the Division of Insurance Company Regulation to
perform the functions of insurance company admissions and
financial supervision and the Division of Insurance Market
Regulation to perform the functions of rate and for regulation
(Section 374.075, RSMo); and

(2)  Creates the Professional Registration Fees Fund for
depositing funds received from the various boards for services
rendered by the Division of Professional Registration (Section
324.001).

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:10 pm