Bill Text | History of Actions | Background | Title |
Description: Insurance regulatory laws; make various amendments.
Bill Text: [Introduced]
| 1 | 01/04 (S) Referred To Insurance | |
| 2 | 01/30 (S) Died In Committee |
| Effective date | July 1, 2001 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| Vote type required | Three/Fifths |
Senate Committee:
Principal Author: Kirby
Code Sections: A 075-0049-0013, A 075-0057-0009, A 083-0005-0011, A 083-0005-0055, A 083-0006-0025, A 083-0015-0005, A 083-0017-0007, A 083-0017-0013, A 083-0021-0015, A 083-0029-0031, A 083-0006-0027, A 083-0019-0075, A 083-0019-0077, A 083-0037-0031
Title: AN ACT TO AMEND SECTION 75-49-13, MISSISSIPPI CODE OF 1972, TO REVISE THE APPEAL PROCEDURES FOR PERSONS AGGRIEVED BY ANY DECISION OF THE COMMISSIONER OF INSURANCE REGARDING MANUFACTURED HOUSING LICENSES; TO AMEND SECTION 75-57-9, MISSISSIPPI CODE OF 1972, TO REVISE CERTAIN STANDARDS CONCERNING THE REGULATION OF THE LIQUEFIED PETROLEUM AND COMPRESSED GAS INDUSTRY; TO AMEND SECTION 83-5-11, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE COMMISSIONER OF INSURANCE SHALL SERVE AS ATTORNEY FOR ALL INSURANCE COMPANIES FOR PURPOSES OF LEGAL PROCESS; TO AMEND SECTION 83-5-55, MISSISSIPPI CODE OF 1972, TO DELETE THE PROVISION REQUIRING LIFE INSURANCE COMPANIES TO FILE WITH THE COMMISSIONER OF INSURANCE A REPORT SHOWING THE AMOUNT OF MISSISSIPPI RESERVES; TO AMEND SECTION 83-6-25, MISSISSIPPI CODE OF 1972, TO REQUIRE INSURANCE COMPANIES TO RECEIVE WRITTEN APPROVAL FROM THE INSURANCE COMMISSIONER BEFORE DISTRIBUTING EXTRAORDINARY DIVIDENDS; TO ELIMINATE THE THIRTY-DAY WAITING PERIOD FOR THE COMMISSIONER'S RESPONSE BEFORE DISTRIBUTION; TO AMEND SECTIONS 83-6-27, 83-19-75 AND 83-19-77, MISSISSIPPI CODE OF 1972, TO ELIMINATE REFERENCES TO REPEALED STATUTES IN CERTAIN INSURANCE REGULATIONS; TO AMEND SECTION 83-15-5, MISSISSIPPI CODE OF 1972, TO REQUIRE TITLE INSURANCE COMPANIES TO DEPOSIT WITH THE STATE TREASURER A CERTAIN PERCENTAGE OF THEIR CAPITAL STOCK; TO AMEND SECTION 83-17-7, MISSISSIPPI CODE OF 1972, TO EXTEND THE DATE OF THE REPEALER ON THE PROVISION OF LAW WHICH PROHIBITS COMMISSIONS TO UNAUTHORIZED AGENTS AND AUTHORIZES REFERRAL FEES TO CERTAIN UNLICENSED EMPLOYEES OF THE AGENT, AGENCY OR AFFILIATE; TO AMEND SECTION 83-17-13, MISSISSIPPI CODE OF 1972, TO REMOVE THE REQUIREMENT THAT AN INSURANCE POLICY MUST BE SIGNED BY A RESIDENT AGENT; TO PROHIBIT LICENSED AGENTS FROM SIGNING ANY BLANK POLICY OF INSURANCE; TO AMEND SECTION 83-21-15, MISSISSIPPI CODE OF 1972, TO REMOVE THE PROHIBITION AGAINST NONRESIDENT INSURANCE AGENTS OWNING AN INTEREST IN A MISSISSIPPI AGENCY; TO AMEND SECTION 83-29-31, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT LEGAL PROCESSES SERVED UPON THE COMMISSIONER OF INSURANCE AS ATTORNEY FOR FRATERNAL SOCIETIES SHALL BE FORWARDED TO FRATERNAL SOCIETIES BY CERTIFIED MAIL INSTEAD OF REGISTERED MAIL; TO AMEND SECTION 83-37-31, MISSISSIPPI CODE OF 1972, TO ALLOW THE COMMISSIONER OF INSURANCE TO PLACE A BURIAL ASSOCIATION IN RECEIVERSHIP IF THE ASSOCIATION FAILS TO COMPLY WITH CERTAIN LICENSING PROVISIONS; AND FOR RELATED PURPOSES.
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