Mississippi Legislature

2000 Regular Session

Senate Bill 2122

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Bill Text

History of Actions

Amendments

Background

Title

Description: Mississippi Creditor-Placed Insurance Act; enact.

Bill Text: [Introduced] [Committee Substitute] [Passed Senate]

History of Actions:

101/13/00(S)Referred To Insurance
202/17/00(S)Title Suff Do Pass Comm Sub
303/09/00(S)Committee Substitute Adopted
403/09/00(S)Amended
503/09/00(S)Passed As Amended
603/13/00(S)Transmitted To House
703/16/00(H)Referred To Banks and Banking;Insurance
804/04/00(H)Died In Committee

Amendments:

Adopted [S] Amendment No 1

Background Information:

Effective dateJuly 1, 2000
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
3/5ths vote requiredNo

Senate Committee:

House Committees:

Principal Author: Kirby

Title: AN ACT TO CREATE THE MISSISSIPPI CREDITOR-PLACED INSURANCE ACT; TO DEFINE CERTAIN TERMS; TO PROVIDE FOR THE TIME WHEN CREDITOR-PLACED INSURANCE SHALL BECOME EFFECTIVE OR IS TERMINATED; TO PROVIDE FOR THE METHOD BY WHICH PREMIUMS FOR CREDITOR-PLACED INSURANCE COVERAGE MAY BE CALCULATED; TO PROVIDE THAT CREDITOR-PLACED INSURANCE SHALL BE SET FORTH IN AN INDIVIDUAL POLICY OR CERTIFICATE OF INSURANCE; TO REQUIRE ALL POLICY FORMS AND CERTIFICATES OF CREDITOR-PLACED INSURANCE DELIVERED IN THIS STATE TO BE FILED WITH THE COMMISSIONER OF INSURANCE; TO PROVIDE THAT THE ENTIRE AMOUNT OF THE PREMIUM DUE FROM A CREDITOR SHALL BE REMITTED TO THE INSURER OR ITS PRODUCER IN ACCORDANCE WITH THE INSURER'S REQUIREMENTS; TO PROVIDE THAT A CREDITOR SHALL NOT IMPOSE CHARGES ON A DEBTOR FOR CREDITOR-PLACED INSURANCE COVERAGE UNLESS ADEQUATE DISCLOSURE OF THE REQUIREMENT TO MAINTAIN INSURANCE HAS BEEN MADE TO THE DEBTOR; TO AUTHORIZE THE COMMISSIONER OF INSURANCE TO CONDUCT INVESTIGATIONS OF INSURERS AND PRODUCERS; TO AUTHORIZE THE COMMISSIONER OF INSURANCE TO PROMULGATE RULES AND REGULATIONS; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 04/04/00 at 17:01.



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