2007 Regular Session
To: Judiciary B
By: Representative Rogers (61st)
AN ACT TO CREATE SECTION 83-39-8, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE TRANSFER OF A QUALIFICATION BOND OF A PERSONAL SURETY AGENT; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. The following shall be codified as Section 83-39-8, Mississippi Code of 1972.
83-39-8. A personal surety agent licensed under this chapter or the executor, trustee or guardian of his estate shall be allowed to transfer the qualification bond required under Section 83-39-7 to another person, provided that person meets all requirements for a license under this chapter and assumes all outstanding liabilities of the personal surety agent. The transferee shall be authorized to conduct the business of the personal surety agent existing and pending at the time of the transferee. The transferee shall submit an application with the fee and proof of education required by Section 83-39-5, which application shall be processed expeditiously and with priority by the department.
SECTION 2. This act shall take effect and be in force from and after July 1, 2007.