MISSISSIPPI LEGISLATURE

1999 Regular Session

To: Insurance

By: Representative Stevens

AN ACT TO CREATE NEW CODE SECTION 83-19-16, MISSISSIPPI CODE OF 1972, TO REQUIRE THAT EVERY DOMESTIC INSURER SHALL NOTIFY THE COMMISSIONER OF INSURANCE OF ANY CHANGE IN THE OFFICERS OR DIRECTORS OF THE INSURER AND SHALL FILE BIOGRAPHICAL AFFIDAVITS ON THE NEW OFFICERS OR DIRECTORS; AND FOR RELATED PURPOSES.

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

SECTION 1. The following section shall be codified as Section 83-19-16, Mississippi Code of 1972:

83-19-16. Every domestic insurer shall notify the Commissioner of Insurance in writing of any change in the officers or directors of the insurer either before or immediately after such change becomes effective. The notice shall include biographical affidavits on the new officers or directors in the format developed by the commissioner.

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