Mississippi Legislature

1999 Regular Session

Senate Bill 3009

[Introduced]

Instructions Bill Status Menu




History of Actions

Background

Title

Description: Credit life insurance; require automatic refunds when due.

History of Actions:

101/18/99(S)Referred To Insurance
202/02/99(S)Died In Committee

Background Information:

Effective datePassage
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
3/5ths vote requiredNo

Senate Committee:

Principal Author: Horhn

Code Section: A 083-0053-0017

Title: AN ACT TO AMEND SECTION 83-53-17, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE PERSON ENTITLED TO A REFUND OF CREDIT LIFE INSURANCE PREMIUMS SHALL NOT BE REQUIRED BY THE INSURER TO MAKE A REQUEST IN ORDER TO PROMPTLY RECEIVE THE REFUND OR CREDIT; TO PROVIDE THAT GIVING WRITTEN NOTICE TO THE DEBTOR THAT A REFUND OR CREDIT IS DUE SHALL NOT CONSTITUTE COMPLIANCE WITH STATE LAW AND SHALL NOT ABSOLVE THE INSURER OF THE RESPONSIBILITY TO PROMPTLY MAKE THE APPROPRIATE REFUND OR CREDIT; TO PROVIDE THAT THE FORMULA USED IN COMPUTING THE PREMIUM REFUND SHALL BE THE PRO RATA FORMULA; TO REQUIRE THE CREDITOR TO NOTIFY THE INSURER IN WRITING WHEN HE DISCHARGES THE DEBTOR FROM THE INDEBTEDNESS; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 02/02/99 at 17:10.



End Of Document

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