reglab/housing_qa huggingface dataset:
MS Code § 83-33-13 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 33 - Reciprocal Insurance|§ 83-33-13. Financial reports

 Such reciprocal shall, within the time limited for filing the annual report by insurance companies transacting the same kind of business, make a report to the Commissioner of Insurance for each calendar year showing the financial condition of affairs at the office where such contracts are issued, and shall furnish such additional information and reports as may be required to show the total premiums or deposits collected, the total losses paid, the total amounts returned to subscribers, and the amounts retained for expenses, provided, however, that such reciprocal shall not be required to furnish the names and addresses of any subscribers. The business affairs and assets of such organization shall be subject to examination by the Commissioner of Insurance at the expense of the office examined.
MS Code § 83-33-15 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 33 - Reciprocal Insurance|§ 83-33-15. Penalty

 Any attorney who shall exchange any contracts of insurance of the kind and character specified in this chapter or any attorney or representative of such attorney who shall solicit or negotiate any application for same without the attorney first complying with the foregoing provisions shall be deemed guilty of a misdemeanor and, on conviction thereof, shall be subjected to a fine of not less than One Hundred Dollars ($100.00) nor more than One Thousand Dollars ($1,000.00). For the purpose of organization and upon issuance of permit by the Commissioner of Insurance, powers of attorney may be solicited without license; but no attorney, agent, or other persons shall effect any such contracts of insurance until all the provisions of this chapter shall have been complied with.
MS Code § 83-33-17 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 33 - Reciprocal Insurance|§ 83-33-17. Certificate of authority

 Upon compliance with the foregoing requirements and the payment of the fees and taxes provided in this chapter, the Commissioner of Insurance shall issue a certificate of authority to the reciprocal. The Commissioner of Insurance may revoke or suspend any certificate of authority issued hereunder in case of breach of any of the conditions imposed by this chapter after reasonable notice has been given to the reciprocal in writing, so that the reciprocal may appear and show cause why such action should not be taken. Any reciprocal who may have procured a certificate of authority hereunder may have the same renewed annually thereafter, provided that any certificate of authority issued shall continue in force and effect until a new certificate of authority is issued or specifically refused.
MS Code § 83-33-19 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 33 - Reciprocal Insurance|§ 83-33-19. Taxation of premium receipts

 Such reciprocal shall upon the issuance of the certificate of authority herein provided pay to the state the sum of Two Hundred Dollars ($200.00), as provided in Section 27-15-83, and with the filing of the annual report herein provided shall pay an annual tax upon the gross premiums or deposits collected from subscribers in this state during the preceding calendar year, after deducting therefrom returns for cancellations, considerations for reinsurance, and all amounts returned to subscribers or credited to their account as savings, as provided in Section 27-15-103 et seq.
MS Code § 83-33-21 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 33 - Reciprocal Insurance|§ 83-33-21. Subscriber's agreement and power of attorney

  Every subscriber of a domestic reciprocal may execute a subscriber's agreement and power of attorney setting forth the rights, privileges and obligations of the subscriber as an underwriter and as a policyholder, and the powers and duties of the attorney and reciprocal.   If a domestic reciprocal requires execution of a subscriber's agreement and power of attorney by a subscriber, then the subscriber, by its execution, shall be bound by the terms and conditions of the subscriber's agreement and power of attorney.   If a domestic reciprocal does not require execution of a subscriber's agreement and power of attorney, the reciprocal shall include on its policies a statement that the subscriber shall be bound by the terms and conditions of the then current subscriber's agreement and power of attorney on file with and as approved by the Commissioner of Insurance, and each subscriber shall by operation of law be bound by such subscriber's agreement and power of attorney as if individually executed by such subscriber. Without additional execution, notice or acceptance, every subscriber of a reciprocal agrees to be bound by any modification of the terms of the subscriber's agreement and power of attorney which is jointly made by the attorney and the board of directors and amendments thereto, which shall be on file with the attorney and Commissioner of Insurance, which shall become effective upon its approval by the Commissioner of Insurance, and which shall by operation of law bind all subscribers the same as if each subscriber adopted and executed the modified subscriber's agreement and power of attorney. No such modification shall be effective retroactively, nor shall it affect any insurance contract issued prior to the modification. The Commissioner of Insurance's approval shall be deemed given if the subscriber's agreement and power of attorney or any amendment is not disapproved within thirty (30) days of its filing.
MS Code § 83-33-23 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 33 - Reciprocal Insurance|§ 83-33-23. Board of directors to control and manage reciprocal

 The board of directors for the reciprocal shall have and exercise the ultimate power over the control and management of the affairs of the reciprocal, subject to the subscriber's agreement. The board of directors shall be selected under rules adopted by the subscribers. At least two-thirds (2/3) of the board of directors of a domestic reciprocal shall be composed of subscribers or representatives of subscribers, other than the attorney or any person employed by or having a financial interest in the attorney. An individual shall not be considered to be employed by or having a financial interest in the attorney if such individual is a subscriber or a representative of a subscriber of the reciprocal. The board of directors may also be referred to as a subscribers advisory committee, board of trustees or by such other name as the board chooses.
MS Code § 83-33-25 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 33 - Reciprocal Insurance|§ 83-33-25. Return of savings or credits accruing to subscribers

 A reciprocal may return to its subscribers any savings or credits accruing to their accounts.
MS Code § 83-33-27 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 33 - Reciprocal Insurance|§ 83-33-27. Certificate to issue nonassessable policies of insurance

  A domestic reciprocal insurer may apply for a certificate to issue nonassessable policies of insurance. A nonassessable policy is a policy in which a subscriber may not be assessed pursuant to Sections 83-33-29 and 83-33-31. If a domestic reciprocal insurer has a surplus of assets over all liabilities at least equal to the minimum capital and surplus required to be maintained by a domestic stock insurer authorized to transact like kinds of insurance, upon application by the domestic reciprocal insurer the Commissioner of Insurance shall issue a certificate of nonassessability authorizing the insurer to omit provisions imposing contingent assessment liability in all policies delivered or issued or renewed.   If a domestic reciprocal insurer's surplus of assets over all liabilities falls below the minimum capital and surplus required to be maintained by a domestic stock insurer authorized to transact like kinds of insurance, the Commissioner of Insurance may forthwith revoke the certificate of nonassessability. The revocation shall not render subject to contingent assessment liability any policy then in force.
MS Code § 83-33-29 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 33 - Reciprocal Insurance|§ 83-33-29. Issuing nonassessable policies without obtaining certificate of nonassessability prohibited; contingent assessment liability

  Any domestic reciprocal insurer that has not been issued a certificate allowing it to issue nonassessable policies as provided in Section 83-33-27 shall issue assessable policies. An assessable policy is a policy in which the insurer charges an initial premium but may later charge an additional premium in accordance with the provisions of this section and Section 83-33-31.   The contingent assessment liability on any one (1) policy in any one (1) calendar year shall equal the premiums earned on the policy for that year multiplied by not less than one (1) nor more than ten (10) as set forth in the policy.   The contingent assessment liability shall not be joint, but shall be individual and several.   Each assessable policy issued by the insurer shall plainly set forth a statement of the contingent assessment liability on the front of the policy in capital letters in not less than ten point type.
MS Code § 83-33-31 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 33 - Reciprocal Insurance|§ 83-33-31. Computation and timing of assessments levied against subscribers

  Assessments may be levied against the subscribers of a domestic assessable reciprocal in accordance with Section 83-33-29.   Any assessment levied against the subscribers of a domestic assessable reciprocal shall treat all subscribers equally in that each subscriber's assessment shall be at the same multiple of the subscriber's policies' individual earned premium for the period covered by the assessment. However, no assessment shall exceed the aggregate contingent assessment liability computed in accordance with Section 83-33-29. For the purposes of this section, the premiums earned on the subscriber's policies are the gross premiums charged by the reciprocal for the policies, minus any charges not recurring upon the renewal or extension of the policies. No subscriber shall have an offset against any assessment for which the subscriber is liable on account of any claim for unearned premium or losses payable.   Every subscriber of a domestic reciprocal having contingent assessment liability shall be liable for and shall pay the subscriber's share of any assessment computed in accordance with this section if, while such policy is in force, or within three (3) years after its termination, the subscriber is notified:   By the reciprocal or the attorney of the reciprocal's intention to levy an assessment; or   That delinquency proceedings have been instituted against the reciprocal under this title and the department or receiver intends to levy an assessment.
MS Code § 83-33-33 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 33 - Reciprocal Insurance|§ 83-33-33. Liability of subscribers for reciprocal's debts or obligations

 No subscriber of a reciprocal shall be personally liable for the payment of the reciprocal's debts or obligations. Any judgment obtained against a reciprocal shall be binding and enforceable only upon and against the reciprocal and shall not be binding or enforceable upon or against any of the reciprocal's subscribers. No legal action shall be allowed to be brought or maintained against the subscribers or insureds of a reciprocal for the payment of the reciprocal's debts or obligations; provided, however, nothing in this section shall diminish or eliminate a subscriber's contingent assessment liability under an assessable policy as provided in Sections 83-33-29 and 83-33-31.
MS Code § 83-33-35 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 33 - Reciprocal Insurance|§ 83-33-35. Applicability of licensing requirements and regulations to employees and agents of reciprocal and its attorney

 The provisions of this code regarding the appointment, licensing, qualification and regulation of insurance agents, brokers and solicitors, do not apply to the reciprocal or its attorney, nor to the salaried representatives of such reciprocal or attorney who receive no commissions, but do apply in the case of any agent, broker or solicitor of any reciprocal who receives any commission.
MS Code § 83-33-37 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 33 - Reciprocal Insurance|§ 83-33-37. Two or more reciprocals authorized to combine assets and liabilities into one reciprocal

 Two (2) or more reciprocals may combine their assets and liabilities into one (1) reciprocal, subject to the approval of the Commissioner of Insurance.
MS Code § 83-34-5 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 34 - Windstorm Underwriting Association|§ 83-34-5. Powers and duties

 The association shall, pursuant to the provisions of this chapter and the plan of operation, and with respect to essential property insurance on insurable property, have the power:   To issue policies of essential property insurance on insurable property to applicants;   At its option, and with consent of the commissioner, to issue policies of related essential property insurance on insurable property to applicants;   To purchase reinsurance for all or part of the risks of the association;   To levy and collect recoupable and nonrecoupable assessments from assessable insurers;   To issue bonds or incur other forms of indebtedness, including, but not limited to, loans, lines of credit or letters of credit;   To establish underwriting criteria consistent with the provisions of this chapter and as approved by the commissioner;   To invest and reinvest income and assets subject to the oversight of the commissioner;   To enter into contractual agreements with third parties, including the Mississippi Windstorm Mitigation Coordinating Council, for the purposes of developing and implementing windstorm mitigation programs; and   All other powers necessary to carry out the provisions and intent of this chapter.
MS Code § 83-34-9 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 34 - Windstorm Underwriting Association|§ 83-34-9. Participation by assessable insurers in recoupable and nonrecoupable assessments levied by association; financial incentives and/or penalties to ensure assessable insurers write insurance in the coast area

  All assessable insurers of the association shall participate in recoupable and nonrecoupable assessments levied by the association based upon their percentage of participation. The association may allow affiliated insurers to combine their annual net direct premiums and other data, including data that supports any incentives that may be allowed by the association, to the extent that such grouping promotes the voluntary writing of essential property insurance in the coast area. Any provisions for credits and grouping of data shall be prescribed in the plan of operation.   All profits of the association shall remain as assets of the association.   The plan of operation shall provide financial incentives or financial penalties, or both, to ensure that assessable insurers write essential property insurance in the coast area. The incentives and penalties may include, but are not limited to, a reduction in recoupable and nonrecoupable assessments, adjustments in the percentage of participation, and other incentives and penalties as provided in the plan of operation. The commissioner shall approve the plan of operation as provided in Section 83-34-13.
MS Code § 83-34-10 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 34 - Windstorm Underwriting Association|§ 83-34-10. Power to levy recoupable and nonrecoupable assessments upon occurrence of certain events; maximum nonrecoupable assessments

  In the event of a covered event that may produce losses in excess of funds that may be immediately available to the association, or in the event that the association determines that it will otherwise have a claim deficit or any other deficit, then the association, with consent of the commissioner, shall have the power to levy recoupable and nonrecoupable assessments against assessable insurers based upon their percentage of participation.  The minimum reserve, as set forth in the plan of operation, shall not be considered as funds available to the association in determining whether to levy a recoupable or nonrecoupable assessment.    A nonrecoupable assessment levied under this section shall not exceed six percent (6%) of the association's year-end total limits in force for the preceding calendar year, or Two Hundred Fifty Million Dollars ($250,000,000.00), whichever is less. Further, in any calendar year, the annual total of all nonrecoupable assessment funds collected shall not exceed, in the aggregate, Two Hundred Fifty Million Dollars ($250,000,000.00).
MS Code § 83-34-12 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 34 - Windstorm Underwriting Association|§ 83-34-12. Deferment of assessable insurer's recoupable or nonrecoupable assessment; amount deferred to be assessed against other assessable insurers

 The recoupable or nonrecoupable assessment of an assessable insurer may, after hearing, be ordered deferred, in whole or in part, upon application by the insurer if, in the opinion of the commissioner, payment of the recoupable or nonrecoupable assessment would render the insurer insolvent or in danger of insolvency, or would otherwise leave the insurer in such a condition that further transaction of the insurer's business would be hazardous to its policyholders, creditors, assessable insurers, subscribers, stockholders or the public. If that payment of a recoupable or nonrecoupable assessment against an assessable insurer is deferred by order of the commissioner, in whole or in part, the amount by which the recoupable or nonrecoupable assessment is deferred shall be assessed against other assessable insurers in the same manner as provided in Section 83-34-9.
MS Code § 83-34-15 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 34 - Windstorm Underwriting Association|§ 83-34-15. Application for coverage; inspection of property; issuance of insurance; appeal of denial of application

    Any person having an insurable interest in insurable property is entitled to apply to the association for such coverage. Applications shall be made on behalf of the owner of the insurable interest by a licensed resident broker or agent authorized by him. Applications shall be submitted on forms prescribed by the association.   The association may require an inspection of any properties after application or request for renewal and may charge a fee for such inspection.   The term "insurable interest" as used in this subsection shall be deemed to include any lawful and substantial economic interest in the safety or preservation of property from loss, destruction or pecuniary damage.     If the association determines that the property is insurable and that there is no unpaid premium due from the applicant for prior insurance on the property, the association, upon receipt of the premium or such portion thereof as is prescribed in the plan of operation, shall cause to be issued, or issue, a policy of essential property insurance. Such coverage shall be dependent upon the timely payment and actual receipt by the association of premiums or premium installments as provided for at the time of application. Coverage limits shall be determined by the value of the insurable property at the time the policy is issued subject to maximum limits which shall be set forth under the plan of operation.   If the association for any reason denies an application and refuses to issue or cause to be issued an insurance policy to any applicant, or takes no action on an application within the time prescribed in the plan of operation, such applicant may appeal to the commissioner. The commissioner or a designated member of his staff, after reviewing the facts, may direct the association to issue or cause to be issued an insurance policy to the applicant; however, no coverage shall be in effect until such time as the premium is paid and the policy issued. In carrying out his duties pursuant to this section, the commissioner may request, and the association shall provide, any information the commissioner deems necessary to a determination concerning the reasons for the denial or delay of the application.
MS Code § 83-34-16 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 34 - Windstorm Underwriting Association|§ 83-34-16. Premium discount for building "fortified home."

 The Mississippi Windstorm Underwriting Association shall provide a premium discount for any individual who builds a "fortified home" pursuant to the Institute for Business and Home Safety (IBHS).Licensed architects, engineers or inspectors certified by the Department of Insurance shall determine whether a dwelling meets the criteria for a "fortified home" pursuant to the Institute for Business and Home Safety.The Mississippi Windstorm Underwriting Association shall provide a premium discount for any individual who improves his residence with demonstrated mitigation measures that provide protection against damages caused by a windstorm or hurricane.
MS Code § 83-34-17 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 34 - Windstorm Underwriting Association|§ 83-34-17. Rates

 The rates, rating plans, rating rules, forms and endorsements applicable to the insurance written by the association shall be those approved for use of the association by the commissioner. Rates shall be nondiscriminatory as to the same class of risk.
MS Code § 83-34-19 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 34 - Windstorm Underwriting Association|§ 83-34-19. Appeals

  Any assessable insurer or other licensed insurer, or agent placing insurance through a nonadmitted insurer, who may be aggrieved by an act, order, ruling or decision of the association may, within thirty (30) days after such ruling, appeal to the commissioner. Any hearings held by the commissioner pursuant to such an appeal shall be in accordance with the procedure set forth in the insurance laws of Mississippi. The commissioner is authorized to appoint a member of his staff for the purpose of hearing such appeals, and a ruling based upon such hearing shall have the same effect as if heard by the commissioner. All assessable insurers or other licensed insurers, or agents placing insurance through a nonadmitted insurer, aggrieved by any order or decision of the commissioner may appeal to the Chancery Court of the First Judicial District of Hinds County, Mississippi, consistent with the insurance laws of the State of Mississippi.   The association and any assessable insurer, other licensed insurer or agent placing insurance through a nonadmitted insurer that may be aggrieved by an act, order, ruling or decision of the commissioner may, within thirty (30) days after such act, order, ruling or decision, appeal to the Chancery Court of the First Judicial District of Hinds County, Mississippi, consistent with the insurance laws of the State of Mississippi.
MS Code § 83-34-21 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 34 - Windstorm Underwriting Association|§ 83-34-21. Reports of inspection made available

 All reports of inspection performed by or on behalf of the association shall be made available to the assessable insurers of the association, applicants, agents, brokers and the commissioner.
MS Code § 83-34-23 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 34 - Windstorm Underwriting Association|§ 83-34-23. Immunity from liability

 There shall be no liability on the part of the insurance commissioner or any of his staff and representatives for any action taken under and pursuant to the provisions of this chapter. There shall be no liability on the part of the association, its agents, representatives or employees, the members of the board, or any assessable insurer of the association, except for the specific obligations stated in any contract of insurance and the duty to pay assessments as provided in this chapter.