Mississippi Legislature
2001 Regular Session

House Bill 643

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Bill Text

History of Actions

Background

Title

Description: Insurance companies; require written approval of the commissioner before paying extraordinary dividends.

Bill Text: [Introduced] [Committee Substitute] [Passed House] [Sent to Governor]

History of Actions:

1 01/08 (H) Referred To Insurance
2 01/24 (H) Title Suff Do Pass Comm Sub
3 01/31 (H) Committee Substitute Adopted
4 01/31 (H) Passed
5 02/02 (H) Transmitted To Senate
6 02/07 (S) Referred To Insurance
7 02/15 (S) Title Suff Do Pass
8 02/28 (S) Passed
9 03/01 (S) Transmitted To House
10 03/05 (H) Enrolled Bill Signed
11 03/06 (S) Enrolled Bill Signed
12 03/11 Approved by Governor

Background Information:

Effective dateJuly 1, 2001
DispositionLaw
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
Vote type requiredMajority
Chapter number377

House Committee:

Senate Committee:

Principal Author: Stevens

Code Section: A 083-0006-0025

Title: AN ACT TO AMEND SECTION 83-6-25, MISSISSIPPI CODE OF 1972, TO REQUIRE INSURANCE COMPANIES TO RECEIVE WRITTEN APPROVAL FROM THE INSURANCE COMMISSIONER BEFORE DISTRIBUTING EXTRAORDINARY DIVIDENDS; TO ELIMINATE THE THIRTY-DAY WAITING PERIOD FOR THE COMMISSIONER'S RESPONSE BEFORE DISTRIBUTION; TO PROVIDE THAT THE INSURER MAY PAY EXTRAORDINARY DIVIDENDS IF THE COMMISSIONER HAS NOT DISAPPROVED SUCH PAYMENT WITHIN FORTY-FIVE DAYS AFTER HE RECEIVES THE WRITTEN REQUEST FOR APPROVAL; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 03/13/01 at 00:01.

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2001/html/History/HB/HB0643.htm