History of Actions | Background | Title |
Description: MS Insurance Licensee Sales Act; create.
| 1 | 01/20/97 | (S) | Referred To Insurance;Business and Financial Institutions | |
| 2 | 02/04/97 | (S) | Died In Committee |
| Effective date | July 1, 1997 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No |
Senate Committees:
Principal Author: Kirby
Code Section: A 083-0017-0101
Title: AN ACT TO CREATE THE MISSISSIPPI INSURANCE LICENSEE SALES ACT; TO DEFINE CERTAIN TERMS; TO AUTHORIZE THE COMMISSIONER OF INSURANCE TO PROMULGATE ADMINISTRATIVE REGULATIONS TO EFFECTUATE THE PURPOSES OF THE ACT; TO ENABLE FINANCIAL INSTITUTIONS TO ENGAGE IN THE SALE OF INSURANCE SUBJECT TO THE REQUIREMENTS AND CONDITIONS OF THIS ACT AND ALL OTHER INSURANCE LAWS OF THE STATE OF MISSISSIPPI; TO REQUIRE LICENSURE OF PERSONS OR ENTITIES WHO SOLICIT OR WHO RECEIVE COMPENSATION FOR THE PURCHASE OR SALE OF ANY INSURANCE PRODUCT; TO PROHIBIT THE TYING OF BANKING PRODUCTS OR SERVICES WITH THE PURCHASE OF INSURANCE PRODUCTS; TO REQUIRE FINANCIAL INSTITUTIONS TO MAKE CERTAIN DISCLOSURES WHEN SOLICITING THE PURCHASE OF OR SELLING INSURANCE; TO PROHIBIT FINANCIAL INSTITUTIONS FROM ENGAGING IN CERTAIN MISLEADING ADVERTISING WHEN SELLING INSURANCE; TO PROHIBIT FINANCIAL INSTITUTIONS FROM DISCRIMINATING AGAINST NON-AFFILIATED AGENTS; TO PROVIDE THAT CERTAIN NONPUBLIC CUSTOMER INFORMATION SHALL NOT BE USED WITHOUT THE CUSTOMER'S CONSENT; TO PLACE CERTAIN RESTRICTIONS ON THE PHYSICAL LOCATION OF INSURANCE ACTIVITIES OF FINANCIAL INSTITUTIONS; TO PROVIDE PENALTIES FOR VIOLATIONS OF THE ACT; TO PROVIDE FOR THE CORPORATE STRUCTURE AND RECORD-KEEPING REQUIREMENTS OF INSURANCE ACTIVITIES OF FINANCIAL INSTITUTIONS; TO GRANT ENFORCEMENT POWERS TO THE DEPARTMENT OF INSURANCE; TO AMEND SECTION 83-17-101, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; AND FOR RELATED PURPOSES.
End Of Document
1997/History/SB\SB2787.htm