Missouri bill modifies rules to attract captive insurance companies

Insurance Tax Bulletin

A Missouri bill, S.B. 287, sponsored by Missouri Sen. Scott Rupp (R) and signed by Missouri Gov. Jay Nixon (D) on May 16, allows for sponsored captive insurance companies and respective protected cells to be organized and operate in the state effective August 28.  The bill also contains ancillary provisions that streamline and simplify the captive insurance statutes to make the establishment of captives in Missouri more attractive to business.

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