Mississippi Legislature

1998 Regular Session

House Bill 1616

[Introduced]

Instructions Bill Status Menu





History of Actions

Background

Title

Description: Property insurance; authorize creditor to purchase if debtor fails to maintain on collateral.

History of Actions:

101/19/98(H)Referred To Banks and Banking;Insurance
201/29/98(H)DR - TSDP: BB To IN
301/30/98(H)DR - TSDP: IN To BB
401/30/98(H)Title Suff Do Pass
502/10/98(H)Recommitted to Committee
602/10/98(H)Died In Committee

Background Information:

Effective dateJuly 1, 1998
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
3/5ths vote requiredNo

House Committees:

Principal Author: Guice

Code Section: A 063-0019-0033

Title: AN ACT TO CLARIFY THAT, IN ADDITION TO OTHER RIGHTS A CREDITOR MAY HAVE, WHEN A DEBTOR FAILS TO MAINTAIN REQUIRED PROPERTY INSURANCE OR FAILS TO PROVIDE THE CREDITOR WITH TIMELY NOTICE OF THE PURCHASE OR RENEWAL OF SUCH INSURANCE COVERAGE, THE CREDITOR MAY PURCHASE INSURANCE COVERAGE ON THE PROPERTY; TO AMEND SECTION 63-19-33, MISSISSIPPI CODE OF 1972, TO CLARIFY THAT INSURANCE PURCHASED BY A CREDITOR OR HOLDER WHEN A DEBTOR FAILS TO MAINTAIN REQUIRED PROPERTY INSURANCE OR FAILS TO PROVIDE THE CREDITOR OR HOLDER WITH TIMELY NOTICE OF THE PURCHASE OR RENEWAL OF SUCH COVERAGE, AND CERTAIN INSURANCE, SHALL BE GOVERNED BY SPECIFIED PROVISIONS OF THIS ACT; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 02/10/98 at 16:03.



End Of Document

1998/History/HB\HB1616.htm