Mississippi Legislature

1999 Regular Session

Senate Bill 2115

[Introduced]

Instructions Bill Status Menu




History of Actions

Background

Title

Description: Insurance regulatory laws; make technical amendments to.

History of Actions:

101/05/99(S)Referred To Insurance;Finance
202/02/99(S)Died In Committee

Background Information:

Effective dateJuly 1, 1999
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
3/5ths vote requiredNo

Senate Committees:

Principal Author: Kirby

Code Sections: A 083-0001-0021, A 083-0019-0031, A 083-0019-0051, A 083-0019-0067, A 083-0039-0017, A 083-0057-0013, A 083-0057-0031, RP 083-0019-0025

Title: AN ACT TO AMEND SECTION 83-1-21, MISSISSIPPI CODE OF 1972, TO EXEMPT CERTAIN INFORMATION RECEIVED BY THE COMMISSIONER OF INSURANCE FROM THE MISSISSIPPI PUBLIC RECORDS ACT; TO AMEND SECTION 83-19-31, MISSISSIPPI CODE OF 1972, TO DELETE THE PROHIBITION OF LOANING ANY CAPITAL OR SURPLUS OF A DOMESTIC INSURANCE COMPANY TO ANY STOCKHOLDER, OFFICER OR DIRECTOR OF THE COMPANY; TO AMEND SECTION 83-19-51, MISSISSIPPI CODE OF 1972, TO PROHIBIT ANY AMOUNT OF CAPITAL OR SURPLUS OF A DOMESTIC INSURANCE COMPANY FROM BEING LOANED TO ANY STOCKHOLDER, OFFICER OR DIRECTOR OF THE COMPANY; TO AMEND SECTION 83-19-67, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT MANAGEMENT CONTRACTS SHALL BE FILED WITH, AND SUBJECT TO REVIEW AND FINAL APPROVAL OF, THE DEPARTMENT OF INSURANCE; TO AMEND SECTION 83-39-17, MISSISSIPPI CODE OF 1972, TO REVISE THE NOTICE REQUIREMENTS FOR REVOCATION HEARINGS OF BAIL AGENT PRIVILEGE LICENSES; TO AMEND SECTION 83-57-13, MISSISSIPPI CODE OF 1972, TO REVISE THE METHOD OF COMPUTING THE NET ASSET REQUIREMENT OF HOME WARRANTY ASSOCIATIONS; TO AMEND SECTION 83-57-31, MISSISSIPPI CODE OF 1972, TO CORRECT AN INCORRECT CODE SECTION REFERENCE; TO CREATE A NEW CODE SECTION TO BE CODIFIED WITHIN CHAPTER 5 OF TITLE 83, MISSISSIPPI CODE OF 1972, TO REQUIRE INSURERS TO NOTIFY THE COMMISSIONER OF INSURANCE AND FILE A BIOGRAPHICAL AFFIDAVIT WHEN CHANGING OFFICERS AND DIRECTORS; TO REPEAL SECTION 83-19-25, MISSISSIPPI CODE OF 1972, WHICH PROHIBITS DOMESTIC INSURANCE COMPANIES FROM PAYING SALARIES IN EXCESS OF $5,000.00 TO NON-RESIDENT OFFICERS AND EMPLOYEES; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 02/02/99 at 17:10.



End Of Document

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