History of Actions | Background | Title |
Description: Mississippi Collateral Protection Insurance Act; create.
| 1 | 01/20/97 | (S) | Referred To Insurance;Judiciary | |
| 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 063-0019-0033
Title: AN ACT TO CREATE THE MISSISSIPPI COLLATERAL PROTECTION INSURANCE ACT; TO AUTHORIZE THE PURCHASE OF CREDITOR-PLACED INSURANCE BY A SECURED CREDITOR WHEN THE BORROWER EITHER FAILS TO MAINTAIN REQUIRED INSURANCE ON THE SECURED COLLATERAL OR FAILS TO PROVIDE A CREDITOR WITH EVIDENCE OF INSURANCE COVERAGE ON THE COLLATERAL; TO PROVIDE NOTICE REQUIREMENTS TO BE GIVEN TO THE BORROWER; TO PROVIDE THAT THIS ACT DOES NOT CREATE A FIDUCIARY RELATIONSHIP BETWEEN THE CREDITOR AND THE DEBTOR OR ANY OTHER PERSON; TO AMEND SECTION 63-19-33, MISSISSIPPI CODE OF 1972, TO CLARIFY THAT THE PLACEMENT OF CREDITOR-PLACED INSURANCE SHALL BE GOVERNED BY CERTAIN PROVISIONS OF THIS ACT; AND FOR RELATED PURPOSES.
End Of Document
1997/History/SB\SB2809.htm