MISSISSIPPI LEGISLATURE

1999 Regular Session

To: Insurance

By: Representative Stevens

AN ACT TO AMEND SECTION 83-5-61, MISSISSIPPI CODE OF 1972, TO INCREASE THE FILING FEE FOR DIRECT PLACEMENT OF PROPERTY INSURANCE; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Section 83-5-61, Mississippi Code of 1972, is amended as follows:

83-5-61. All corporations, firms, persons, or individuals obtaining insurance on property situated in this state owned by corporations, firms, or individuals resident therein, against fire, lightning, or tornado from companies, associations, firms, or corporations not authorized to transact business in this state, shall file with the Insurance Commissioner of the state a sworn statement or declaration, setting forth the name of the company, number of policy, amount of insurance rate, premium, and description, shall be required to pay to the Insurance Commissioner a tax thereon of three percent (3%) of the premiums paid on such policies, and shall further pay to the commissioner a fee of Twenty Dollars ($20.00) on each policy for filing a record of the * * * statement or declaration, which record shall be kept for the private information of the Insurance Department and shall not be a public record.

SECTION 2. This act shall take effect and be in force from and after July 1, 1999.