SB 418-1_ Filed 01/31/2000, 09:41



    I move
that Senate Bill 418 be amended to read as follows:

SOURCE: Page 1, line 14; (00)MO041801.1. -->     Page 1, delete lines 14 through 17, begin a new paragraph and insert:
    " (b) The commissioner may increase the ten percent (10%) limitation in subsection (a)(1) to an amount not to exceed twenty percent (20%) of the capital and surplus of the insurer as reported in its latest annual statement filed with the commissioner if:
        (1) the assets of the insurer include good will, trade names, and other like intangible assets that are attributable to the acquisition after December 31, 1998, of an insurance company or health maintenance organization authorized to do business under the laws of any state; and
        (2) as of the date of the initial request for an increase in the ten percent (10%) limitation in subsection (a)(1) the total adjusted capital of the insurer is at least four hundred percent (400%) of the authorized control level risk based capital of the insurer as reported in the latest annual report filed with the commissioner.
    (c) The commissioner may retain experts to assist with a request

made under subsection (b). The insurer shall pay all costs for the

    Page 2, delete lines 1 through 2.
    (Reference is to SB 418 as printed January 25, 2000.)


Senator CLARK

MO041801/DI 47     2000