2006 Regular Session
By: Senator(s) Nunnelee
AN ACT TO AUTHORIZE BURIAL ASSOCIATIONS TO MERGE OR CONSOLIDATE WITH FUNERAL HOMES UPON APPROVAL BY THE COMMISSIONER OF INSURANCE; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) A burial association may merge or consolidate all its business with a funeral home upon approval by the Commissioner of Insurance and in accordance with the following:
(a) The burial association and funeral home shall maintain separate checking accounts;
(b) The burial association shall not write any new policies from the date of the merger or consolidation;
(c) The merger or consolidation may not be reversed;
(d) All requirements under this chapter, including deposits, licenses, taxes and fees, shall continue to apply to the burial association after completion of the merger or consolidation.
(2) A copy of the agreement or document effecting such merger or consolidation shall be filed with the Commissioner of Insurance and the Mississippi State Board of Funeral Service.
SECTION 2. This act shall take effect and be in force from and after its passage.