reglab/housing_qa huggingface dataset:
MS Code § 81-19-25 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 19 - Consumer Loan Broker Act|§ 81-19-25. Records of licensee; retention

  A licensee shall retain a complete record of each transaction under this chapter for a period of two (2) years from the date of the closing of the loan. The commissioner may prescribe by regulation the form and nature of the records to be retained.   All records must be housed at the licensed location unless specific permission is secured from the commissioner to maintain them at another location within the state.
MS Code § 81-19-27 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 19 - Consumer Loan Broker Act|§ 81-19-27. Separate account required for charges and fees collected by broker; authorization to withdraw from account

  Loan charges and fees collected on behalf of a lender by the licensee from a borrower shall be deposited and kept in an account maintained solely for that purpose and totally apart and separate from the monies of the licensee.   Withdrawals of loan charges and fees from the separate account shall be only at the direction of the lender, an escrow agent or a loan closing attorney. Proof of the authorization to withdraw and pay out loan charges and fees shall be retained by the licensee.
MS Code § 81-19-29 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 19 - Consumer Loan Broker Act|§ 81-19-29. Suspension or revocation of license; grounds; commissioner may to enter orders to require persons to refrain from violations

  After notice and hearing, the commissioner may suspend or revoke any license if he finds that the licensee has knowingly and without exercising due care:   Failed to pay the annual license fee imposed by this chapter or an examination fee imposed by the commissioner under authority of this chapter; or   Violated any provision of this chapter or of any rule or regulation issued under this chapter.     When the commissioner has reasonable cause to believe that a person is violating any provision of this chapter, the commissioner, in addition to and without prejudice to the authority provided elsewhere in this chapter, may enter an order to require the person to stop or to refrain from the violation. The commissioner may sue in any circuit court of the state having jurisdiction and venue to enjoin the person from engaging in or continuing the violation or from doing any act in furtherance of the violation. In such an action, the court may enter an order or judgment awarding a preliminary or permanent injunction.
MS Code § 81-19-31 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 19 - Consumer Loan Broker Act|§ 81-19-31. Service charge not to be construed as finance charge or interest

 Notwithstanding any provision of law to the contrary and specifically Section 75-17-25, Mississippi Code of 1972, a service charge as defined in this chapter shall not be construed to be finance charge or interest when paid to a licensed consumer loan broker by a borrower, or by a lender on behalf of and at the direction of the borrower, if the payment is made pursuant to a written contract between the consumer loan broker and the borrower as required by this chapter.
MS Code § 81-19-33 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 19 - Consumer Loan Broker Act|§ 81-19-33. Effect of failure to comply with chapter on underlying transaction

 The failure of a licensed consumer loan broker to comply with this chapter in the finding and obtaining of a consumer loan for a borrower shall not affect the validity and enforceability of any debt, mortgage, deed of trust or any other lien interest in real or personal property, and a lender in the consumer loan or his assignee, holder or transferee is under no obligation to ascertain if this chapter has been complied with by the licensed consumer loan broker in the transaction.
MS Code § 81-19-35 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 19 - Consumer Loan Broker Act|§ 81-19-35. Right to hearing upon denial or revocation of license; notice; appeal; review

 When any license application is denied or any active license is revoked, the applicant or licensee has a right to a hearing before the commissioner at which the applicant or licensee may be represented by counsel. The demand for a hearing shall be in writing and shall be made within thirty (30) days after receipt of the denial or revocation. The commissioner shall set a date and time for the hearing no later than thirty (30) days after receipt of the demand. Public notice of the hearing shall be published in a newspaper of general circulation in the county where the license is proposed or is being operated. Such notice shall appear not less than ten (10) days before the date of the hearing and shall contain the date, time, place, identity of the parties involved and the purpose for which the hearing is to be held. All hearings shall be held in the office of the commissioner.   Any action of the commissioner after the hearing may be appealed by the applicant or licensee within ten (10) days from the date of such action by a writ of certiorari to the circuit court of the county where the business is proposed to be conducted or is being conducted, as provided by law in such cases.   The review by the court shall be on the record made before the commissioner; and copies of all applications, bonds and other papers and documents of every kind filed with the commissioner and the hearing shall be included in the record along with the transcript of the evidence.
MS Code § 81-21-1 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 21 - Insurance Premium Finance Companies|§ 81-21-1. Definitions

 The following words and phrases shall have the meanings ascribed herein unless the context clearly indicates otherwise:   "Commissioner" means the Commissioner of Banking and Consumer Finance.   "Person" means an individual, partnership, association, business corporation, nonprofit corporation, common-law trust, joint-stock company or any other entity, however organized.   "Premium finance agreement" means an agreement by which an insured or prospective insured promises to pay to a premium finance company the amount advanced or to be advanced to an insurer or to an insurance agent or broker in payment of premiums of an insurance contract together with interest or discount and a service charge, as authorized and limited by Sections 81-21-13 through 81-21-23.   "Premium finance company" means a person engaged in the business of entering into premium finance agreements or acquiring premium finance agreements from other premium finance companies.   "Records" or "documents" means any item in hard copy or produced in a format of storage commonly described as electronic, imaged, magnetic, microphotographic or otherwise, and any reproduction so made shall have the same force and effect as the original thereof and be admitted in evidence equally with the original.
MS Code § 81-21-5 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 21 - Insurance Premium Finance Companies|§ 81-21-5. Investigation of license applicant; hearing for applicant found unqualified; conditions for issuance or renewal of license

  Upon the filing of an application and the payment of the license fee, the commissioner shall make an investigation of each applicant and shall issue a license if the application is qualified in accordance with this chapter. If the commissioner does not so find, he or she, at the request of the applicant, shall give the application a full hearing in accordance with the Mississippi Administrative Procedures Law.   The commissioner shall issue or renew a license when he or she is satisfied that the person to be licensed:   Is competent and trustworthy and intends to act in good faith;   Has a good business reputation and has had the experience or training or possesses the abilities so as to be qualified to act as a premium finance company;   If a corporation, is incorporated under the laws of this state or, if a foreign corporation, is authorized to transact business in this state.
MS Code § 81-21-7 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 21 - Insurance Premium Finance Companies|§ 81-21-7. Revocation or suspension of license; grounds; right to hearing

  The commissioner may revoke or suspend the license of any premium finance company when after investigation the commissioner finds that:   The license was obtained by material misrepresentation or fraud;   The holder of the license has shown himself untrustworthy or incompetent to act as a premium finance company; or   The licensee has violated any of the provisions of this chapter.     Before the commissioner shall revoke, suspend or refuse to renew the license of any premium finance company, the person aggrieved shall be entitled to a hearing in accordance with the Mississippi Administrative Procedures Law.
MS Code § 81-21-9 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 21 - Insurance Premium Finance Companies|§ 81-21-9. Penalty in lieu of revocation or suspension of license

  In lieu of revoking or suspending the license for any of the causes enumerated in this chapter, after a hearing as provided in Section 81-21-7, the commissioner may subject the company to a penalty not to exceed Five Hundred Dollars ($500.00) for each offense when the commissioner finds that the public interest would not be harmed by the continued operation of the company. The amount of any such penalty shall be paid by the company to the commissioner for deposit into the special fund in the State Treasury designated as the "Consumer Finance Fund." At any hearing provided by this chapter, the commissioner shall have authority to administer oaths to witnesses. Anyone testifying falsely, after having been administered such oath, shall be subject to the penalty of perjury.   If any person engages in business as provided for in this chapter without paying the license fee provided for in this chapter before commencing business or before the expiration of the person's current license, as the case may be, then the person shall be liable for the full amount of the license fee, plus a penalty in an amount not to exceed Twenty-five Dollars ($25.00) for each day that the person has engaged in the business without a license or after the expiration of a license.   When the commissioner has reasonable cause to believe that a person is violating any provision of this chapter, the commissioner, in addition to and without prejudice to the authority provided elsewhere in this chapter, may enter an order requiring the person to stop and refrain from the violation. The commissioner may sue in any circuit court of the state having jurisdiction and venue to enjoin the person from engaging in or continuing the violation or from doing any act in furtherance of the violation. In such an action, the court may enter an order or judgment awarding a preliminary or permanent injunction.
MS Code § 81-21-10 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 21 - Insurance Premium Finance Companies|§ 81-21-10. Commissioner authorized to examine persons suspected of conducting business requiring a license

 The commissioner, or his duly authorized representative, for the purpose of discovering violations of this chapter and for the purpose of determining whether persons are subject to the provisions of this chapter, may examine persons licensed under this chapter and persons reasonably suspected by the commissioner of conducting business that requires a license under this chapter, including all relevant books, records and papers employed by those persons in the transaction of their business, and may summon witnesses and examine them under oath concerning matters relating to the business of those persons, or such other matters as may be relevant to the discovery of violations of this chapter, including without limitation the conduct of business without a license as required under this chapter.
MS Code § 81-21-11 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 21 - Insurance Premium Finance Companies|§ 81-21-11. Records

  A premium finance company shall maintain records of its premium finance transactions.   A premium finance company shall preserve its records of premium finance transactions, including preservation by means of electronic data processing or computer records, for at least two (2) years after making the final entry with respect to any premium finance agreement. The preservation of records in photographic, microfilm or microfiche form constitutes compliance with this section.
MS Code § 81-21-13 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 21 - Insurance Premium Finance Companies|§ 81-21-13. Premium finance agreement; contents

 A premium finance agreement shall:   Be dated and signed by or on behalf of the insured, and the printed portion thereof shall be in at least eight-point type;   Contain the name and place of business of the insurance agent or broker negotiating the related insurance contract, the name and residence or place of business of the insured, the name and place of business of the premium finance company, a brief description of the insurance contracts involved and the amount of the premium; and   Set forth the following items, where applicable:   The total amount of the premium, less an itemized listing of any nonrefundable charges;   The amount of the down payment;   The principal balance, which is the difference between the amounts stated under subparagraphs (i) and (ii) of this paragraph;   The amount of the interest and the annual percentage rate;   The balance payable by the insured, meaning the sum of amounts stated under subparagraphs (iii) and (iv) of this paragraph; and   The number of installments required, the amount of each installment expressed in dollars and the due date or period thereof.
MS Code § 81-21-15 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 21 - Insurance Premium Finance Companies|§ 81-21-15. Permissible charges; computation of interest; prepayment by insured

  A premium finance company shall not charge, contract for, receive or collect any interest or service charge other than as permitted in this section.   The interest is to be computed on the balance of the premiums due, after subtracting the down payment made by the insured in accordance with the premium finance agreement, from the effective date of the insurance contract or as otherwise agreed to by the parties, for which the premiums are being advanced, to the date when the final installment of the premium finance agreement is payable.   Notwithstanding any provision of law to the contrary, for any loan or extension of credit in an amount of Ten Thousand Dollars ($10,000.00) or less, made by a licensee under this chapter, the licensee may contract for and receive any finance charge agreed to in writing by the licensee and the insured, not to exceed twenty-four percent (24%) per annum on the unpaid balance; however, if the loan or extension of credit is in an amount more than Ten Thousand Dollars ($10,000.00), the licensee may contract for and receive any finance charge agreed to in writing by the licensee and the insured.   Notwithstanding the provisions of any premium finance agreement, any insured shall receive a refund of the unearned finance charge, based on the Rule of 78's, upon the voluntary prepayment of the obligation in full or upon the cancellation of such contract. Where the amount of the refund credit is less than Three Dollars ($3.00), no refund need be made.
MS Code § 81-21-17 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 21 - Insurance Premium Finance Companies|§ 81-21-17. Delinquency charges; collection costs

  A premium finance agreement may provide for the payment by the insured of a delinquency charge of up to five percent (5%) of any installment which is in default for a period of more than five (5) days. If the premium finance agreement is primarily for personal, family or household purposes then the maximum delinquency charge shall be Fifteen Dollars ($15.00). If the default results in the cancellation of any insurance contract listed in the agreement, the agreement may provide for the payment by the insured of a cancellation charge of Fifteen Dollars ($15.00). The agreement may also provide for a returned check fee of Fifteen Dollars ($15.00) for each installment payment check returned by the bank.   A premium finance agreement may provide for payment of collection costs and attorney's fees equal to twenty percent (20%) of the outstanding indebtedness if the premium finance agreement is referred for collection to a collection agency or to an attorney who is not a salaried employee of the premium finance company.   None of the charges referred to in this section shall be considered, directly or indirectly, in determining whether a violation of the usury laws has occurred under a premium finance agreement.
MS Code § 81-21-19 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 21 - Insurance Premium Finance Companies|§ 81-21-19. Cancellation of insurance contracts; notice

  When a premium finance agreement contains a power of attorney clause enabling the premium finance company to cancel any insurance contract or contracts listed in the agreement, the insurance contract or contracts shall not be cancelled by the premium finance company unless such cancellation is done in accordance with this section.   Not less than ten (10) days' written notice shall be mailed to the insured, at the last known address shown on the records of the premium finance company, of the intent of the premium finance company to cancel the insurance contract unless the default is cured within such ten-day period.   After expiration of such ten-day period, the premium finance company may thereafter cancel such insurance contract or contracts by sending to the insurer a notice of cancellation. The insurance contract shall be cancelled as if such notice of cancellation had been submitted by the insured, but without requiring the return of the insurance contract or contracts. The premium finance company shall also mail a copy of the notice of cancellation to the insured at the last known address shown on the records of the premium finance company.   All statutory, regulatory and contractual restrictions providing that the insurance contract may not be cancelled unless notice is given to a governmental agency, mortgagee or third party other than the insured shall apply where cancellation is effected under the provisions of this section. The insurer shall give the prescribed notice on behalf of itself or the insured to any governmental agency, mortgagee or other third party on or before the fifth business day after the day it receives the notice of cancellation from the premium finance company and shall determine the effective date of cancellation taking into consideration the number of days' notice required to complete the cancellation.   No liability of any nature whatsoever either in favor of the insured, any governmental agency, mortgagee or third party shall be imposed upon the insurer as a result of any misstatement of fact contained in such notice of cancellation or statement furnished by the insurance premium finance company to the insurer.
MS Code § 81-21-21 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 21 - Insurance Premium Finance Companies|§ 81-21-21. Return of unearned premiums to premium finance company; refund of excess to insured

  Whenever a financed insurance contract is cancelled, the insurer shall return to the premium finance company as soon as reasonably possible whatever gross unearned premiums are due under the insurance contract, and also shall furnish to the premium finance company a report setting forth an itemization of the unearned premiums under the policy that includes a detailed mathematical summary of the computation of the return premium.   If a premium is subject to an audit to determine the final premium amount, the gross unearned premium shall be calculated upon the deposit premium and the insurer shall return whatever gross unearned premiums are due based upon that deposit to the finance company for the account of the insured.   If the crediting of return premiums to the account of the insured results in a surplus over the amount due from the insured, the premium finance company shall refund the excess to the insured, provided that no such refund shall be required if it amounts to less than Three Dollars ($3.00).
MS Code § 81-21-23 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 21 - Insurance Premium Finance Companies|§ 81-21-23. Filing of agreement unnecessary to perfect interest

 No filing of the premium finance agreement shall be necessary to perfect the validity of such agreement as a secured transaction as against creditors, subsequent purchasers, pledgees, encumbrancers, trustees in bankruptcy or any other insolvency proceeding under any law or anyone having the status or power of the aforementioned or their successors or assigns.
MS Code § 81-21-25 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 21 - Insurance Premium Finance Companies|§ 81-21-25. Deposit of revenues in Consumer Finance Fund

 All revenues collected by or paid to the commissioner under the provisions of Section 81-21-9 shall be forwarded immediately to the State Treasurer, who shall deposit them into the special fund in the State Treasury designated as the "Consumer Finance Fund."
MS Code § 81-21-27 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 21 - Insurance Premium Finance Companies|§ 81-21-27. Exclusions from coverage of chapter

 This chapter shall not apply to:   The financing of insurance premiums by any seller who sells goods or services pursuant to an installment sales contract in which a time price differential is charged, or to any savings and loan association, savings bank, bank, trust company, finance company, credit union or mortgage company;   Any insurance company, association or exchange authorized to do business in this state which solely finances the insurance premiums for its insurance policies, or a subsidiary of an authorized insurer admitted in this state or a corporation under substantially the same management or control as an admitted insurer or group of insurers, where such subsidiary, managed or controlled company is engaged in the business of financing insurance premiums on policies issued only by its parent insurer or affiliated group of insurers; and   Any insurance agent or producing agent licensed to do business in this state who finances premiums on policies solely written by such agent or producing agent.
MS Code § 81-22-1 (2020)
2020 Mississippi Code|Title 81 - Banks and Financial Institutions|Chapter 22 - Mississippi Debt Management Services Act|§ 81-22-1. Short title

 This chapter may be known and cited as the "Mississippi Debt Management Services Act."