***Pending***
AMENDMENT No. 1 PROPOSED TO
House Bill NO. 1083
By Senator(s) Committee
Amend by striking all after the enacting clause and inserting in lieu thereof the following:
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. In the event the law in effect on the date a member insurer becomes an insolvent insurer provides less favorable coverage limits to the rights of policyholders, then the law in effect on the date the policy is issued shall govern.
SECTION 2. This act shall take effect and be in force from and after its passage.