reglab/housing_qa huggingface dataset:
MS Code § 83-23-113 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 23 - Insolvent Insurance Companies; Insurance Guaranty Association|Article 3 - Insurance Guaranty Association|§ 83-23-113. Board of directors

  The board of directors of the association shall consist of not less than five (5) nor more than nine (9) persons, serving terms as established in the plan of operation. The members of the board shall be selected by member insurers, subject to the approval of the commissioner. Vacancies of the board shall be filled for the remaining period of the term by a majority vote of the remaining board members subject to the approval of the commissioner. If no members are selected within sixty (60) days after July 1, 1992, the commissioner may appoint the initial members of the board of directors.   In approving selections to the board, the commissioner shall consider, among other things, whether all member insurers are fairly represented.   Members of the board may be reimbursed from the assets of the association for expenses incurred by them as members of the board of directors.
MS Code § 83-23-119 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 23 - Insolvent Insurance Companies; Insurance Guaranty Association|Article 3 - Insurance Guaranty Association|§ 83-23-119. Duties and powers of the commissioner

  The commissioner shall:   Notify the association of the existence of an insolvent insurer not later than three (3) days after he receives notice of the determination of the insolvency.   Upon request of the board of directors, provide the association with a statement of the net direct written premiums of each member insurer.     The commissioner may:   Require that the association notify the insureds of the insolvent insurer and any other interested parties of the determination of insolvency and of their rights under this article. Such notification shall be by mail at their last-known address, where available, but if sufficient information for notification by mail is not available, notice by publication in a newspaper of general circulation shall be sufficient.   Suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this state of any member insurer which fails to pay an assessment when due, or fails to comply with the plan of operation. As an alternative, the commissioner may levy a fine on any member insurer which fails to pay an assessment when due. Such fine shall not exceed five percent (5%) of the unpaid assessment per month, except that no fine shall be less than One Hundred Dollars ($100.00) per month.   Revoke the designation of any servicing facility if he finds claims are being handled unsatisfactorily.     Any final action or order of the commissioner under this article shall be subject to judicial review in a court of competent jurisdiction.
MS Code § 83-23-121 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 23 - Insolvent Insurance Companies; Insurance Guaranty Association|Article 3 - Insurance Guaranty Association|§ 83-23-121. Assignment of rights to association; effect of paid claims

  Any person recovering under this article shall be deemed to have assigned his rights under the policy to the association to the extent of his recovery from the association. Every insured or claimant seeking the protection of this article shall cooperate with the association to the same extent as such person would have been required to cooperate with the insolvent insurer. The association shall have no cause of action against the insured of the insolvent insurer for any sums it has paid out except such causes of action as the insolvent insurer would have had if such sums had been paid by the insolvent insurer, and except as provided in subsection (2). In the case of an insolvent insurer operating on a plan with assessment liability, payments of claims of the association shall not operate to reduce the liability of insureds to the receiver, liquidator, or statutory successor for unpaid assessments.   The association shall have the right to recover from the following persons the amount of any "covered claim" paid on behalf of such person pursuant to this article:  Any person who is an affiliate of the insolvent insurer and whose liability obligations to other persons are satisfied in whole or in part by payments made under this article.    The receiver, liquidator, or statutory successor of an insolvent insurer shall be bound by settlements of covered claims by the association or a similar organization in another state. The court having jurisdiction shall grant such claims priority equal to that which the claimant would have been entitled in the absence of this article against the assets of the insolvent insurer. The expenses of the association or similar organization in handling claims shall be accorded the same priority as the liquidator's expenses.   The association shall periodically file with the receiver or liquidator of the insolvent insurer statements of the covered claims paid by the association and estimates of anticipated claims on the association, which shall preserve the rights of the association against the assets of the insolvent insurer.
MS Code § 83-23-123 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 23 - Insolvent Insurance Companies; Insurance Guaranty Association|Article 3 - Insurance Guaranty Association|§ 83-23-123. Nonduplication of recovery

  Any person having a claim against an insurer under any provision in an insurance policy other than a policy of an insolvent insurer, which is also a covered claim, shall be required to exhaust first his right under such policy. Any amount payable on a covered claim under this article shall be reduced by the amount of any recovery under such insurance policy.   Any person having a claim which may be recovered under more than one (1) insurance guaranty association or its equivalent shall seek recovery first from the association of the place of residence of the insured, except that if it is a first party claim for damage to property with a permanent location, he shall seek recovery first from the association of the location of the property, and if it is a workmen's compensation claim, he shall seek recovery first from the association of the residence of the claimant. Any recovery under this article shall be reduced by the amount of recovery from any other insurance guaranty association or its equivalent.
MS Code § 83-23-125 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 23 - Insolvent Insurance Companies; Insurance Guaranty Association|Article 3 - Insurance Guaranty Association|§ 83-23-125. Prevention of insolvencies

 To aid in the detection and prevention of insurer insolvencies:   It shall be the duty of the board of directors, upon majority vote, to notify the commissioner of any information indicating any member insurer may be insolvent or in a financial condition hazardous to the policyholders or the public.   The board of directors may, upon majority vote, request that the commissioner order an examination of any member insurer which the board in good faith believes may be in a financial condition hazardous to the policyholders or the public. Within thirty (30) days of the receipt of such request, the commissioner shall begin such examination. The examination may be conducted as a National Association of Insurance Commissioners examination, or may be conducted by such persons as the commissioner designates. The cost of such examination shall be paid by the association, and the examination report shall be treated as are other examination reports. In no event shall such examination report be released to the board of directors prior to its release to the public, but this shall not preclude the commissioner from complying with subsection (c). The commissioner shall notify the board of directors when the examination is completed. The request for an examination shall be kept on file by the commissioner, but it shall not be open to public inspection prior to the release of the examination report to the public.   It shall be the duty of the commissioner to report to the board of directors when he has reasonable cause to believe that any member insurer examined or being examined at the request of the board of directors may be insolvent or in a financial condition hazardous to the policyholders or the public.   The board of directors may, upon majority vote, make reports and recommendations to the commissioner upon any matter germane to the solvency, liquidation, rehabilitation, or conservation of any member insurer. Such reports and recommendations shall not be considered public documents.   The board of directors may, upon majority vote, make recommendations to the commissioner for the detection and prevention of insurer insolvencies.   The board of directors shall, at the conclusion of any insurer insolvency in which the association was obligated to pay covered claims, prepare a report on the history and causes of such insolvency, based on the information available to the association, and submit such report to the commissioner.
MS Code § 83-23-127 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 23 - Insolvent Insurance Companies; Insurance Guaranty Association|Article 3 - Insurance Guaranty Association|§ 83-23-127. Examination of the association

 The association shall be subject to examination and regulation by the commissioner. The board of directors shall submit, not later than March 30 of each year, a financial report for the preceding calendar year in a form approved by the commissioner.
MS Code § 83-23-129 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 23 - Insolvent Insurance Companies; Insurance Guaranty Association|Article 3 - Insurance Guaranty Association|§ 83-23-129. Tax exemption

 The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions except taxes levied on real or personal property.
MS Code § 83-23-131 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 23 - Insolvent Insurance Companies; Insurance Guaranty Association|Article 3 - Insurance Guaranty Association|§ 83-23-131. Recognition of assessments in rates

 The rates and premiums charged for insurance policies to which this article applies may include amounts sufficient to recoup a sum equal to the amounts paid to the association by the member insurer less any amounts returned to the member insurer by the association. Such rates shall not be deemed excessive because they contain an amount reasonably calculated to recoup assessments paid by the member insurer.
MS Code § 83-23-133 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 23 - Insolvent Insurance Companies; Insurance Guaranty Association|Article 3 - Insurance Guaranty Association|§ 83-23-133. Immunity

 There shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer, the association, its agents or employees, the board of directors, or the commissioner or his representatives for any action taken or any failure to act by them in the performance of their powers and duties under this article.
MS Code § 83-23-135 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 23 - Insolvent Insurance Companies; Insurance Guaranty Association|Article 3 - Insurance Guaranty Association|§ 83-23-135. Stay of proceedings; access to insolvent insurer's records

 All proceedings in which the insolvent insurer is a party or is obligated to defend a party in any court in this state shall be stayed for six (6) months and for such additional time thereafter as may be determined by the court from the date the insolvency is determined or an ancillary proceeding is instituted in the state, whichever is later, to permit proper defense by the association of all pending causes of action as to any covered claims arising from a judgment under any decision, verdict, or finding based on the default of the insolvent insurer or its failure to defend an insured. The association, either on its own behalf or on behalf of such insured, may apply to have such judgment, order, decision, verdict, or finding set aside by the same court or administrator that made such judgment, order, decision, verdict, or finding, and shall be permitted to defend against such claim on the merits.   The liquidator, receiver, or statutory successor of an insolvent insurer covered by this article shall permit access by the board or its authorized representative to the insolvent insurer's records which are necessary for the board in carrying out its functions under this article with regard to covered claims. In addition, the liquidator, receiver, or statutory successor shall provide the board or its representative with copies of such records upon the request by the board and at the expense of the board.
MS Code § 83-23-201 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 23 - Insolvent Insurance Companies; Insurance Guaranty Association|Article 5 - Mississippi Life and Health Insurance Guaranty Association Act|§ 83-23-201. Citation of article

 This article shall be known and may be cited as the "Mississippi Life and Health Insurance Guaranty Association Act".
MS Code § 83-23-203 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 23 - Insolvent Insurance Companies; Insurance Guaranty Association|Article 5 - Mississippi Life and Health Insurance Guaranty Association Act|§ 83-23-203. Purpose

  The purpose of this article is to protect, subject to certain limitations, the persons specified in Section 83-23-205(1) against failure in the performance of contractual obligations, under life and health insurance policies and annuity contracts specified in Section 83-23-205(2), because of the impairment or insolvency of the member insurer that issued the policies or contracts.   To provide this protection, an association of insurers is created to pay benefits and to continue coverages as limited herein, and members of the association are subject to assessment to provide funds to carry out the purpose of this article.
MS Code § 83-23-207 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 23 - Insolvent Insurance Companies; Insurance Guaranty Association|Article 5 - Mississippi Life and Health Insurance Guaranty Association Act|§ 83-23-207. Construction of article

 This article shall be construed to effect the purpose under Section 85-23-203.
MS Code § 83-23-211 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 23 - Insolvent Insurance Companies; Insurance Guaranty Association|Article 5 - Mississippi Life and Health Insurance Guaranty Association Act|§ 83-23-211. Mississippi Life and Health Insurance Guaranty Association; member insurers; functions; accounts

  There is created a nonprofit legal entity to be known as the Mississippi Life and Health Insurance Guaranty Association. All member insurers shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under the plan of operation established and approved under Section 83-23-219 and shall exercise its powers through a board of directors established under Section 83-23-213. For purposes of administration and assessment the association shall maintain two (2) accounts:   The life insurance and annuity account which includes the following subaccounts:   Life insurance account;   Annuity account which shall include annuity contracts owned by a governmental retirement plan (or its trustee) established under Section 401, 403(b) or 457 of the United States Internal Revenue Code, but shall otherwise exclude unallocated annuities; and   Unallocated annuity account which shall exclude contracts owned by a governmental retirement benefit plan (or its trustee) established under Section 401, 403(b) or 457 of the United States Internal Revenue Code.     The health insurance account.     The association shall come under the immediate supervision of the commissioner and shall be subject to the applicable provisions of the insurance laws of this state. Meetings or records of the association may be opened to the public upon majority vote of the board of directors of the association.
MS Code § 83-23-213 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 23 - Insolvent Insurance Companies; Insurance Guaranty Association|Article 5 - Mississippi Life and Health Insurance Guaranty Association Act|§ 83-23-213. Board of directors; selection; compensation

  The board of directors of the association shall consist of not less than five (5) nor more than nine (9) member insurers serving terms as established in the plan of operation. The members of the board shall be selected by member insurers subject to the approval of the commissioner. Vacancies on the board shall be filled for the remaining period of the term by a majority vote of the remaining board members, subject to the approval of the commissioner. To select the initial board of directors, and initially organize the association, the commissioner shall give notice to all member insurers of the time and place of the organizational meeting. In determining voting rights at the organizational meeting each member insurer shall be entitled to one (1) vote in person or by proxy. If the board of directors is not selected within sixty (60) days after notice of the organizational meeting, the commissioner may appoint the initial members.   In approving selections or in appointing members to the board, the commissioner shall consider, among other things, whether all member insurers are fairly represented.   Members of the board may be reimbursed from the assets of the association for expenses incurred by them as members of the board of directors but members of the board shall not otherwise be compensated by the association for their services.
MS Code § 83-23-218 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 23 - Insolvent Insurance Companies; Insurance Guaranty Association|Article 5 - Mississippi Life and Health Insurance Guaranty Association Act|§ 83-23-218. Member insurers permitted to offset assessment against taxes

  From and after July 1, 1993, a member insurer may offset against its (premium, franchise or income) tax liability (or liabilities) to this state an assessment described in Section 83-23-217(8) to the extent of twenty percent (20%) of the amount of such assessment, if any, for each year over the next five (5) succeeding years. However, if the offset is less than twenty percent (20%), any unused balance may be carried over to any succeeding year until such time as the offset provided herein is fully used. In the event a member insurer should cease doing business, all uncredited assessments may be credited against its (premium, franchise or income) tax liability (or liabilities) for the year it ceases doing business.   Any sums which are acquired by refund, pursuant to Section 83-23-217(6), from the association by member insurers, and which have theretofore been offset against (premium, franchise or income) taxes as provided in subsection (1) of this section, shall be paid by such insurers to this state in such manner as the tax authorities may require. The association shall notify the commissioner that such refunds have been made.
MS Code § 83-23-221 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 23 - Insolvent Insurance Companies; Insurance Guaranty Association|Article 5 - Mississippi Life and Health Insurance Guaranty Association Act|§ 83-23-221. Duties of commissioner; enforcement of assessments against member insurers; appeal

  In addition to the duties and powers enumerated elsewhere in this article, the commissioner shall:   Upon request of the board of directors, provide the association with a statement of the premiums in this and any other appropriate states for each member insurer; and   When an impairment is declared and the amount of the impairment is determined, serve a demand upon the impaired insurer to make good the impairment within a reasonable time; notice to the impaired insurer shall constitute notice to its shareholders, if any; the failure of the insurer to promptly comply with such demand shall not excuse the association from the performance of its powers and duties under this article.     The commissioner may suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this state of any member insurer which fails to pay an assessment when due or fails to comply with the plan of operation. As an alternative the commissioner may levy a forfeiture on any member insurer which fails to pay an assessment when due. The forfeiture shall not exceed five percent (5%) of the unpaid assessment per month, but no forfeiture shall be less than One Hundred Dollars ($100.00) per month.   A final action of the board of directors or the association may be appealed to the commissioner by a member insurer if the appeal is taken within sixty (60) days of its receipt of notice of the final action being appealed. A final action or order of the commissioner shall be subject to judicial review in a court of competent jurisdiction in accordance with the laws of this state that apply to the actions or orders of the commissioner.   The liquidator, rehabilitator or conservator of an impaired or insolvent insurer may notify all interested persons of the effect of this article.