History of Actions | Background | Title |
Description: Credit life insurance; require automatic refunds when due.
| 1 | 01/18/99 | (S) | Referred To Insurance | |
| 2 | 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 Committee:
Principal Author: Horhn
Code Section: A 083-0053-0017
Title: AN ACT TO AMEND SECTION 83-53-17, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE PERSON ENTITLED TO A REFUND OF CREDIT LIFE INSURANCE PREMIUMS SHALL NOT BE REQUIRED BY THE INSURER TO MAKE A REQUEST IN ORDER TO PROMPTLY RECEIVE THE REFUND OR CREDIT; TO PROVIDE THAT GIVING WRITTEN NOTICE TO THE DEBTOR THAT A REFUND OR CREDIT IS DUE SHALL NOT CONSTITUTE COMPLIANCE WITH STATE LAW AND SHALL NOT ABSOLVE THE INSURER OF THE RESPONSIBILITY TO PROMPTLY MAKE THE APPROPRIATE REFUND OR CREDIT; TO PROVIDE THAT THE FORMULA USED IN COMPUTING THE PREMIUM REFUND SHALL BE THE PRO RATA FORMULA; TO REQUIRE THE CREDITOR TO NOTIFY THE INSURER IN WRITING WHEN HE DISCHARGES THE DEBTOR FROM THE INDEBTEDNESS; AND FOR RELATED PURPOSES.
End Of Document
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