History of Actions | Background | Title |
Description: Insurers rehabilitation and liquidation laws; revise.
| 1 | 01/14/99 | (S) | Referred To Insurance;Judiciary | |
| 2 | 01/22/99 | (S) | DR - TSDP: IN To JU | |
| 3 | 02/02/99 | (S) | Died In Committee |
| Effective date | Passage | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No |
Senate Committees:
Principal Author: Kirby
Code Sections: A 083-0024-0007, A 083-0024-0019, A 083-0024-0023, A 083-0024-0025, A 083-0024-0027, A 083-0024-0031, A 083-0024-0035, A 083-0024-0037, A 083-0024-0041, A 083-0024-0043, A 083-0024-0047, A 083-0024-0059, A 083-0024-0063, A 083-0024-0065, A 083-0024-0067, A 083-0024-0069, A 083-0024-0071, A 083-0024-0073, A 083-0024-0075, A 083-0024-0077, A 083-0024-0079, A 083-0024-0083, A 083-0024-0085, A 083-0024-0089, A 083-0024-0099, A 083-0024-0103, A 083-0024-0105, A 083-0024-0107, A 083-0024-0109, A 083-0024-0111, A 083-0024-0115, A 083-0024-0117, RP 083-0024-0029, RP 083-0024-0033, RP 083-0024-0101
Title: AN ACT TO AMEND SECTION 83-24-7, MISSISSIPPI CODE OF 1972, TO REVISE CERTAIN DEFINITIONS UNDER THE INSURERS REHABILITATION AND LIQUIDATION ACT; TO AMEND SECTION 83-24-19, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR THE ENFORCEMENT OF SEIZURES IN FORMAL DELINQUENCY PROCEEDINGS AGAINST AN INSURER UNDER THE INSURERS REHABILITATION AND LIQUIDATION ACT; TO AMEND SECTION 83-24-23, MISSISSIPPI CODE OF 1972, TO PROVIDE GROUNDS TO REHABILITATE OR LIQUIDATE AN INSURER DOMICILED IN THE STATE OF MISSISSIPPI; TO AMEND SECTION 83-24-25, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR EXPEDITED APPEAL OF A REHABILITATION ORDER; TO AMEND SECTION 83-24-27, MISSISSIPPI CODE OF 1972, TO REVISE THE POWERS AND DUTIES OF THE REHABILITATOR; TO AMEND SECTION 83-24-31, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; TO AMEND SECTION 83-24-35, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; TO AMEND SECTION 83-24-37, MISSISSIPPI CODE OF 1972, TO CLARIFY THE CONTINUATION AND TERMINATION OF COVERAGE; TO AMEND SECTION 83-24-41, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR THE DEFENSE OF ACTIONS AGAINST THE INSURER OR INSURED BY THE LIQUIDATOR; TO AMEND SECTION 83-24-43, MISSISSIPPI CODE OF 1972, TO REVISE THE REQUIREMENTS FOR NOTICE OF LIQUIDATION ORDERS; TO AMEND SECTION 83-24-47, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR THE TREATMENT OF JUDGMENTS OR ORDERS TAKEN AGAINST AN INSURER AFTER THE DATE OF LIQUIDATION IN CERTAIN COURTS; TO AMEND SECTION 83-24-59, MISSISSIPPI CODE OF 1972, TO PROHIBIT SETOFFS BY REINSURERS WHERE THE REINSURER BOTH ASSUMED FROM AND CEDED TO THE INSOLVENT INSURER AND TO PROHIBIT SETOFFS BETWEEN AFFILIATED COMPANIES; TO AMEND SECTION 83-24-63, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR THE CONSTRUCTION OF CERTAIN REINSURANCE CONTRACTS; TO AMEND SECTION 83-24-65, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR THE PAYMENT AND COLLECTION OF PREMIUMS; TO AMEND SECTION 83-24-67, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR DISTRIBUTIONS TO GUARANTY ASSOCIATIONS AND TO PROVIDE FOR THE OFFSET OF CERTAIN DEPOSITS; TO AMEND SECTION 83-24-69, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR ALTERNATIVE PROCEDURES FOR FILING PROOFS OF CLAIM; TO AMEND SECTION 83-24-71, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR ADDITIONAL INFORMATION TO BE INCLUDED IN PROOFS OF CLAIM; TO AMEND SECTION 83-24-73, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR SPECIAL CLAIMS; TO AMEND SECTION 83-24-75, MISSISSIPPI CODE OF 1972, TO PROVIDE TIME LIMIT FOR THIRD PARTY FILING CLAIM WITH LIQUIDATOR; TO AMEND SECTION 83-24-77, MISSISSIPPI CODE OF 1972, TO PROVIDE PROCEDURES FOR HANDLING DISPUTED CLAIMS; TO AMEND SECTION 83-24-79, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; TO AMEND SECTION 83-24-83, MISSISSIPPI CODE OF 1972, TO REVISE THE PROVISION ESTABLISHING PRIORITY AND ORDER OF DISTRIBUTIONS OF CLAIMS; TO AMEND SECTION 83-24-85, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR REVIEW OF CLAIMS IN LIQUIDATION; TO AMEND SECTION 83-24-89, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR AN ALTERNATIVE METHOD OF HANDLING UNCLAIMED FUNDS; TO AMEND SECTION 83-24-99, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR ANCILLARY PROCEEDINGS; TO AMEND SECTION 83-24-103, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR VESTING OF PROPERTY; TO AMEND SECTION 83-24-105, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR ACTIONS OF ANCILLARY RECEIVER; TO AMEND SECTION 83-24-107, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; TO AMEND SECTION 83-24-109, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR THE COORDINATION OF ACTIVITIES WHEN ANCILLARY RECEIVERS ARE APPOINTED; TO AMEND SECTION 83-24-111, MISSISSIPPI CODE OF 1972, TO ALLOW FOR ANCILLARY CLAIM FILING PROCEDURES; TO AMEND SECTION 83-24-115, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR SECURED CLAIMS; TO AMEND SECTION 83-24-117, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; TO CREATE A NEW SECTION TO BE CODIFIED AS SECTION 83-24-18, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR CERTAIN PROTECTIONS REGARDING RECEIVERS; TO CREATE A NEW SECTION TO BE CODIFIED AS SECTION 83-24-20, MISSISSIPPI CODE OF 1972, TO PROVIDE PROCEDURES FOR FORMAL DELINQUENCY PROCEEDINGS; TO CREATE A NEW SECTION TO BE CODIFIED AS SECTION 83-24-36, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR RECORDS OF DELINQUENT INSURERS; TO CREATE A NEW SECTION TO BE CODIFIED AS SECTION 83-24-52, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR RECOUPMENT FROM AFFILIATES; TO CREATE A NEW SECTION TO BE CODIFIED AS SECTION 83-24-82, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR THE TREATMENT OF QUALIFIED FINANCIAL CONTRACTS; TO CREATE A NEW SECTION TO BE CODIFIED AS SECTION 83-24-104, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR THE HANDLING OF SPECIAL OR STATUTORY DEPOSITS; TO CREATE A NEW SECTION TO BE CODIFIED AS SECTION 83-24-119, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR THE SHARING OF INFORMATION; TO REPEAL SECTION 83-24-29, MISSISSIPPI CODE OF 1972, WHICH PROVIDES FOR A STAY OF ACTIONS OR PROCEEDINGS DURING REHABILITATION; TO REPEAL SECTION 83-24-33, MISSISSIPPI CODE OF 1972, WHICH AUTHORIZES THE COMMISSIONER OF INSURANCE TO PETITION THE COURT FOR AN ORDER TO LIQUIDATE A DOMESTIC INSURER OR AN ALIEN INSURER DOMICILED IN THIS STATE; TO REPEAL SECTION 83-24-101, MISSISSIPPI CODE OF 1972, WHICH AUTHORIZES THE COMMISSIONER OF INSURANCE TO PETITION THE COURT FOR AN ORDER TO LIQUIDATE THE ASSETS FOUND IN THIS STATE OF A FOREIGN INSURER OR AN ALIEN INSURER NOT DOMICILED IN THIS STATE; AND FOR RELATED PURPOSES.
End Of Document
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