Mississippi Legislature

1997 Regular Session

Senate Bill 2232

[Introduced]

Instructions Bill Status Menu





History of Actions

Background

Title

Description: Insurance laws; make various technical amendments.

History of Actions:

101/08/97(S)Referred To Insurance
202/04/97(S)Died In Committee

Background Information:

Effective dateJuly 1, 1997
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
3/5ths vote requiredYes

Senate Committee:

Principal Author: Kirby

Code Sections: A 083-0001-0027, A 083-0005-0001, A 083-0005-0017, A 083-0005-0041, A 083-0005-0045, A 083-0017-0123, A 083-0017-0221, A 083-0005-0251, A 083-0006-0001, A 083-0006-0024, A 083-0017-0101, A 083-0019-0001, A 083-0019-0011, A 083-0019-0013, A 083-0031-0001, A 083-0019-0073, A 083-0031-0021, A 083-0019-0119, A 083-0027-0001, A 083-0039-0003, A 083-0039-0005, A 083-0039-0007, A 083-0043-0003, RP 083-0001-0025, RP 083-0019-0023, RP 083-0021-0011, A 083-0005-0207

Title: AN ACT TO AMEND SECTION 83-1-27, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE DEPARTMENT OF INSURANCE TO CONTRACT WITH PROFESSIONAL SERVICE ORGANIZATIONS TO EXAMINE THE FINANCIAL AFFAIRS OF ALL FOREIGN COMPANIES WITHIN ITS JURISDICTION; TO AMEND SECTION 83-5-1, MISSISSIPPI CODE OF 1972, TO CLARIFY THAT HEALTH MAINTENANCE ORGANIZATIONS ARE COMPANIES WITHIN THE MEANING OF THE INSURANCE CODE AND ARE SUBJECT TO THE INSPECTION AND SUPERVISION OF THE COMMISSIONER OF INSURANCE; TO AMEND SECTIONS 83-5-17, 83-5-41 AND 83-5-45, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE COMMISSIONER OF INSURANCE TO IMPOSE ADMINISTRATIVE FINES AGAINST COMPANIES FOR FAILURE TO COMPLY WITH INSURANCE LAWS; TO AMEND SECTIONS 83-17-123 AND 83-17-221, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE COMMISSIONER TO IMPOSE ADMINISTRATIVE FINES AGAINST AGENTS FOR LIFE, HEALTH, ACCIDENT, FIRE AND OTHER INSURERS FOR FAILURE TO COMPLY WITH INSURANCE LAWS; TO AMEND SECTION 83-5-251, MISSISSIPPI CODE OF 1972, TO REVISE THE DEFINITION OF THE TERM "INSURABLE INTEREST"; TO AMEND SECTION 83-6-1, MISSISSIPPI CODE OF 1972, TO EXCLUDE BURIAL ASSOCIATIONS FROM THE DEFINITION OF THE TERM "INSURER" IN REGARD TO THE REGISTRATION AND EXAMINATION OF INSURERS; TO AMEND SECTION 83-6-24, MISSISSIPPI CODE OF 1972, TO REVISE THE TIME OF PUBLIC HEARING NECESSARY TO APPROVE ANY MERGER OF DOMESTIC INSURANCE COMPANIES; TO AMEND SECTION 83-17-101, MISSISSIPPI CODE OF 1972, TO REVISE THE DEFINITION OF THE TERMS "AGENT" AND "PERSON" IN REGARD TO THE REGULATION OF AGENTS FOR LIFE, HEALTH OR ACCIDENT INSURERS; TO AMEND SECTION 83-19-1, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR THE FORMATION OF INSURANCE COMPANIES BY CLASSIFICATIONS; TO AMEND SECTIONS 83-19-11 AND 83-19-13, MISSISSIPPI CODE OF 1972, TO REVISE THE MINIMUM NUMBER OF DIRECTORS NEEDED TO ORGANIZE AN INSURANCE COMPANY; TO AMEND SECTION 83-31-1, MISSISSIPPI CODE OF 1972, TO REVISE THE MINIMUM NUMBER OF PERSONS NEEDED TO FORM A BUSINESS OF MUTUAL INSURANCE; TO AMEND SECTIONS 83-19-73 AND 83-31-21, MISSISSIPPI CODE OF 1972, TO MAKE THE AMOUNT OF SURPLUS FOR INSURANCE COMPANIES CONSISTENT AMONG MUTUAL, STOCK AND RECIPROCAL COMPANIES; TO AMEND SECTION 83-19-119, MISSISSIPPI CODE OF 1972, TO CORRECT A REFERENCE TO AN INCORRECT CODE SECTION; TO AMEND SECTION 83-27-1, MISSISSIPPI CODE OF 1972, TO CLARIFY THE CAPITAL REQUIREMENT FOR SURETY COMPANIES; TO AMEND SECTION 83-39-3, MISSISSIPPI CODE OF 1972, TO CHANGE THE DATE OF ANNUAL EXPIRATION OF A PROFESSIONAL BONDSMAN LICENSE; TO AMEND SECTION 83-39-5, MISSISSIPPI CODE OF 1972, TO REVISE THE REQUIREMENTS FOR A PROFESSIONAL BONDSMAN LICENSE; TO AMEND SECTION 83-39-7, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR A HEARING BEFORE THE COMMISSIONER SUSPENDS A PROFESSIONAL BONDSMAN LICENSE; TO AMEND SECTION 83-43-3, MISSISSIPPI CODE OF 1972, TO CORRECT A REFERENCE TO AN INCORRECT CODE SECTION; TO REPEAL SECTION 83-1-25, MISSISSIPPI CODE OF 1972, WHICH AUTHORIZES THE COMMISSIONER OF INSURANCE TO CONDUCT FINANCIAL EXAMINATIONS OF DOMESTIC INSURANCE COMPANIES; TO REPEAL SECTION 83-19-23, MISSISSIPPI CODE OF 1972, WHICH PRESCRIBES THE FORM OF CERTIFICATES OF AUTHORITY AND REQUIRES FILING WITH THE SECRETARY OF STATE; TO REPEAL SECTION 83-21-11, MISSISSIPPI CODE OF 1972, WHICH REQUIRES THE COMMISSIONER OF INSURANCE TO REVOKE THE CERTIFICATE OF AUTHORITY OF A FOREIGN INSURANCE COMPANY WHEN THE FOREIGN INSURANCE COMPANY MAKES APPLICATION TO REMOVE ANY ACTION OR PROCEEDING COMMENCED IN ANY COURT OF THIS STATE UPON A CLAIM OR CAUSE OF ACTION ARISING OUT OF ANY TRANSACTION DONE IN THIS STATE; TO AMEND SECTION 83-5-207, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 01/08/97 at 12:53.



End Of Document

1997/History/SB\SB2232.htm