Bill > HB1615

This bill modifies several sections of Missouri law related to insurance companies, specifically reducing the minimum number of directors for various types of insurance entities from nine to five while maintaining the existing maximum number of directors. The bill affects joint stock companies, mutual companies, and other insurance corporations, allowing them to have a board of directors with as few as five members instead of the previous nine-member minimum. The changes apply to different sections of the Revised Statutes of Missouri (RSMo) covering insurance entity formation and reorganization, including provisions for stock companies, mutual companies, and hybrid stock-mutual companies. By lowering the minimum board size, the bill provides more flexibility for insurance entities in structuring their leadership and governance, potentially making it easier for smaller or newer insurance companies to establish and maintain their boards of directors. The maximum board size remains unchanged in most cases, ranging from thirteen to twenty-five directors depending on the type of insurance entity.

Business and Industry

https://house.mo.gov/Bill.aspx?bill=HB1615&year=2026&code=R