MISSISSIPPI LEGISLATURE

1998 Regular Session

To: Insurance

By: Senator(s) Hewes

AN ACT TO AMEND SECTIONS 83-5-27 AND 83-17-201, MISSISSIPPI CODE OF 1972, TO CLARIFY THAT ERRORS AND OMISSIONS INSURANCE COVERAGE OFFERED BY THE REAL ESTATE COMMISSION TO REAL ESTATE BROKERS IS NOT A VIOLATION OF INSURANCE LAW; AND FOR RELATED PURPOSES. 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Section 83-5-27, Mississippi Code of 1972, is amended as follows:

83-5-27. No stock, mutual, reciprocal or other insurer shall make available to any resident or group of residents of this state, through any rating plan or form, fire, inland marine, casualty or surety insurance, or type or combination thereof, whether by master policy, series of policies, certificates of insurance, or otherwise, to any person, firm, corporation, or association of individuals, any preferred rate or premium based upon any fictitious grouping of such person, firm, corporation, or association of individuals, which fictitious grouping is hereby defined and declared to be any grouping by way of membership, license, franchise, agreement, or any other method or means; provided, however, that the foregoing shall not apply to life, accident, health, and hospitalization insurance nor to errors and omissions insurance provided in Section 73-35-16, Mississippi Code of 1972.

SECTION 2. Section 83-17-201, Mississippi Code of 1972, is amended as follows:

83-17-201. This article shall apply to and regulate all agents and solicitors engaged in any manner in the business of counseling, soliciting, taking applications, selling, issuing, delivering, or effecting a contract of insurance, or collecting or transmitting premiums on policies or contracts of fire, allied lines, automobile physical damage, casualty, liability, fidelity, surety, guaranty, or inland marine insurance in any stock, mutual, reciprocal, or other type of insurance carrier, company, or association, but shall not apply to any agent or solicitor engaged exclusively in the business of life, health and accident, burial or title insurance or to the errors and omissions insurance provided in Section 73-35-16, Mississippi Code of 1972.

SECTION 3. This act shall take effect and be in force from and after its passage.