History of Actions | Background | Title |
Description: Mississippi Mutual Insurance Company Conversion, Reorganization and Merger Act; create.
| 1 | 01/06/98 | (H) | Referred To Insurance | |
| 2 | 01/21/98 | (H) | Title Suff Do Pass | |
| 3 | 01/30/98 | (H) | Amended | |
| 4 | 01/30/98 | (H) | Passed As Amended | |
| 5 | 02/02/98 | (H) | Transmitted To Senate | |
| 6 | 02/03/98 | (S) | Referred To Insurance;Judiciary | |
| 7 | 03/03/98 | (S) | Died In Committee |
| Effective date | July 1, 1998 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No |
House Committee:
Senate Committees:
Principal Author: Stevens
Additional Authors: Moore, Robinson (84th)
Title: AN ACT TO CREATE NEW CODE SECTIONS 83-31-101 THROUGH 83-31-181, MISSISSIPPI CODE OF 1972, TO CREATE THE MISSISSIPPI MUTUAL INSURANCE COMPANY CONVERSION, REORGANIZATION AND MERGER ACT; TO DEFINE CERTAIN TERMS; TO AUTHORIZE THE ADOPTION OF A PLAN OF CONVERSION OF A MUTUAL INSURANCE COMPANY INTO A STOCK COMPANY; TO AUTHORIZE THE INSURANCE COMMISSIONER TO TAKE SPECIFIED ACTIONS RELATING TO THE CONVERSION; TO ALLOW AMENDMENT AND WITHDRAWAL OF THE PLAN; TO SET FORTH NOTICE AND HEARING REQUIREMENTS; TO PROVIDE FOR ADOPTION OF THE PLAN; TO REQUIRE CERTAIN FILINGS AFTER CONVERSION; TO SPECIFY CERTAIN PROVISIONS WHICH MUST BE INCLUDED IN EACH PLAN; TO PROVIDE FOR MEMBER SUBSCRIPTION RIGHTS; TO PROVIDE FOR THE SALE OF CAPITAL STOCK; TO AUTHORIZE ALTERNATIVE PLANS OF CONVERSION; TO SET FORTH THE EFFECTIVE DATE OF CONVERSION; TO PROVIDE FOR THE CONTINUED CORPORATE EXISTENCE UPON CONVERSION; TO PROHIBIT CONFLICTS OF INTEREST; TO PROVIDE FOR THE EFFECT OF FAILURE TO GIVE NOTICE; TO SET FORTH THE LIMITATION ON ACTIONS CHALLENGING THE PLAN; TO SET FORTH CONVERSION REQUIREMENTS FOR INSOLVENT MUTUAL COMPANIES; TO SET FORTH THE LAW GOVERNING CONVERTED STOCK COMPANIES; TO ALLOW THE AMENDMENT OF POLICIES UPON CONVERSION; TO AUTHORIZE THE CREATION OF MUTUAL INSURANCE HOLDING COMPANIES; TO AUTHORIZE MISSISSIPPI MUTUAL INSURANCE COMPANIES TO MERGE WITH FOREIGN OR OTHER DOMESTIC MUTUAL INSURANCE COMPANIES; AND FOR RELATED PURPOSES.
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1998/History/HB\HB0528.htm