MISSISSIPPI LEGISLATURE

1999 Regular Session

To: Insurance

By: Representative Stevens

AN ACT TO CREATE A NEW SECTION TO BE CODIFIED AS SECTION 83-23-204, MISSISSIPPI CODE OF 1972, TO PROVIDE THE GOVERNING LAW CONCERNING THE MISSISSIPPI LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION; AND FOR RELATED PURPOSES.

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

SECTION 1. This section shall be codified as Section 83-23-204, Mississippi Code of 1972:

83-23-204. The law in effect on the date that a member insurer becomes an insolvent insurer shall determine the rights of policyholders of the insolvent insurer against the association and the powers and duties of the association with respect to any contractual obligation of the insolvent insurer.

SECTION 2. This act shall take effect and be in force from and after its passage.