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BULLET St. Louis City Revised Code Chapter 8.46 Insurance Adjustors

St. Louis City Revised Code (annotated) has been converted to electronic format by the staff of the St. Louis Public Library. This electronic version has been done for the interest and convenience of the user. These are unofficial versions and should be used as unofficial copies.

Official printed copies of St. Louis City Revised Code may be obtained from the Register's Office at the St. Louis City Hall.



Chapter 8.46
Insurance Adjustors

Sections:

8.46.010 Public insurance adjustor defined.
8.46.020 License--Required.
8.46.040 Contracts.
8.46.050 Fee payments by insurance companies.
8.46.060 Applicability of chapter.
8.46.070 Penalty for violation.

8.46.010 Public insurance adjustor defined.

For the purposes of this chapter, the term "public insurance adjustor" means any person who holds himself out as an authority on casualty loss adjustments, and/or who can be or is retained for a fee or for a percentage of any casualty loss recovery to assist in the preparation, filing and negotiating of fire and allied claim adjustments, including the preparation of inventories, estimates, factual proofs of loss, compiling and filing claims; or who shall hold himself out to be retained for a fee or for a percentage of recovery resulting from any claim of loss with any insurance company under the fire coverage and allied lines including windstorm, explosion, snow, hail, smoke, motor vehicle damage losses, inland marine, use and occupancy, rentals, improvements and betterments, commission and profit.
(Ord. 56481 2, 1973.)

8.46.020 License--Required.

No person shall engage in the business of public insurance adjusting or hold himself out to be a public insurance adjuster without having been licensed as a public insurance adjustor pursuant to this chapter. No corporation may engage in public insurance adjusting unless the service is the primary business of the corporation and unless at least one officer and all employees actually performing public insurance adjusting services shall have been licensed pursuant to this chapter.
(Ord. 56481 1, 1973.)

V.A.M.S.:

325.010 et seq. Adjustors, public adjustors, public adjustor solicitors.

McQuillin:

26.120 Insurance companies; agents and brokers

8.46.040 Contracts.

No person shall receive any fee, commission, percentage of any casualty loss recovery, or other thing of value for performing the services described in Section 8.46.010 unless he first shall obtain a license as described in Section 8.46.030. No person licensed as a public insurance adjuster may receive any fee, commission or percentage of any casualty loss recovery or other thing of value unless the compensation is based upon a written memorandum signed by the party to be charged and specifying or clearly defining the amount and extent of the compensation. A copy of each memorandum or contract shall be filed with the fire marshal within two weeks after signing of the same by the party to be charged. The memorandum shall also contain the name of the owner of any real property to whom the casualty loss recovery will be paid and the name of the insurance company against which the claim will be made.
(Ord. 56481 4, 1973.)

8.46.050 Fee payments by insurance companies.

No insurance company may make any payment of any fee or portion of any casualty loss recovery to any person acting as a public insurance adjustor unless person shall be licensed as a public insurance adjustor.
(Ord. 56481 5, 1973.)

8.46.060 Applicability of chapter.

Nothing in this chapter shall apply to:

A. Licensed attorneys at law in this state acting in their professional capacity as such;

B. An actuary or a certified public accountant who provides information, recommendations, advice or services in his professional capacity, if neither he nor his employer receives any compensation directly or indirectly on account of the insurance contract that is the subject in whole or part of such information, recommendation, advice or services;

C. Regular salaried officers or employees of an insurer who devote substantially all of their services to activities other than public insurance adjusting while acting in their capacity as such when discharging the duties of their employment.
(Ord. 56481 6, 1973.)

8.46.070 Penalty for violation.

Any person, firm or corporation who shall be found guilty of violation of any provision of this chapter shall be punished by a fine of not less than two hundred fifty dollars or by imprisonment for not less than seven days nor more than ninety days or by both fine and imprisonment.
(Ord. 56481 7, 1973.)

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