reglab/housing_qa huggingface dataset:
MS Code § 83-19-16 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-16. Commissioner of Insurance to be notified of changes in officers or directors

 Every domestic insurer shall notify the Commissioner of Insurance in writing of any change in the officers or directors of the insurer either before or immediately after such change becomes effective. The notice shall include biographical affidavits on the new officers or directors in the format developed by the commissioner.
MS Code § 83-19-19 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-19. Certificate of organization

 The president, secretary, and majority of the directors shall forthwith make, sign, and swear to a certificate setting forth a copy of the articles of association, with the names of the subscribers thereto, the date of the first meeting, and of any adjournment thereof, and shall submit such certificate and the records of the corporation to the insurance commissioner, who shall examine the same and may require such other evidence as he may deem necessary.
MS Code § 83-19-21 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-21. License fees; deposit into Insurance Department Fund; funding of agency expenses; deposit of monies into State General Fund

 If it appears that the requirements of the law herein have been complied with, the commissioner shall collect a fee of Two Hundred Dollars ($200.00), to be paid into the special fund in the State Treasury designated as the "Insurance Department Fund" and shall certify the fact and his approval of the articles of association, by endorsement thereon. The commissioner shall also collect a fee of Fifty Dollars ($50.00) for any amendment filed thereon and such fee shall be deposited into the "Insurance Department Fund."   From and after July 1, 2016, the expenses of this agency shall be defrayed by appropriation from the State General Fund and all user charges and fees authorized under this section shall be deposited into the State General Fund as authorized by law.   From and after July 1, 2016, no state agency shall charge another state agency a fee, assessment, rent or other charge for services or resources received by authority of this section.
MS Code § 83-19-27 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-27. Examination of financial ability, condition, and affairs

 It shall be the duty of the commissioner of insurance of this state to make an examination of the financial ability, condition, and affairs of each domestic insurance company of this state, within twelve (12) months from the date upon which such domestic insurance company commences to do business in this state, and thereafter regular examinations of the financial ability, condition, and affairs of such domestic insurance companies shall be made as herein provided, and is now provided.
MS Code § 83-19-29 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-29. New companies to file financial statement each quarter for two years

 It shall be the further duty of the Commissioner of Insurance of this state to require each domestic insurance company to file with the Department of Insurance a sworn financial statement of the company each quarter after it commences to do business, for a period of two (2) years. The statement shall be filed on and in accordance with the NAIC Quarterly Statement Blank and Instructions as well as the NAIC Accounting Practices and Procedures Manual. After the expiration of the two-year period, the annual statement otherwise required by statute will be sufficient unless the Commissioner of Insurance deems it advisable to require a more frequent filing of a financial statement.
MS Code § 83-19-33 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-33. Capital stock payment

 The capital stock shall be paid in cash within twelve (12) months from the date of charter or certificate of organization, unless the commissioner of insurance on proper showing shall grant additional time for the completion of the sale and payment of said stock; and no certificate of full shares shall be issued until paid for in full. No policies shall be issued until an amount equal to the minimum required by law shall have been paid into the company and a license to engage in business has been issued by the commissioner of insurance.
MS Code § 83-19-35 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-35. Commissioner to approve the price per share of stock

 The commissioner of insurance shall approve the price per share of stock to be issued by a domestic insurance company upon the filing of a prospectus or brochure by the company. Said prospectus or brochure shall show the total number of shares authorized, and the number of shares to be issued at a specified price, and shall contain in large print the wording "This stock is purely speculative." The above provisions shall also apply to any stock subscribed to under escrow agreement at any organizational meeting.
MS Code § 83-19-37 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-37. Stock sale

 No stock sale shall be approved at a par value of less than One Dollar ($1.00) per share, and no stock sale shall be approved in which commissions paid to salesmen, agents, or brokers exceed ten percent (10%) of the asking price of the stock.
MS Code § 83-19-39 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-39. Escrow deposits

 The par value of each share and fifty percent (50%) of the amount allocated to surplus shall be deposited in escrow in a bank in the State of Mississippi, jointly payable to the commissioner of insurance and the company, which deposit shall remain in escrow until sufficient funds are raised to permit the licensing of the company, or returned to the stockholders in lieu of such licensing.
MS Code § 83-19-41 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-41. No stock to be placed on option

 The commissioner of insurance shall examine the charter and bylaws of each company applying for license to do business under the domestic insurance company laws to determine that no stock is placed on option. It shall be unlawful for any domestic insurance company to declare a stock dividend within five (5) years from date of incorporation.
MS Code § 83-19-43 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-43. Qualification of certain stock sales with securities exchange commission

 Any insurance company formed under the laws of the State of Mississippi, whose organizers or incorporators consist of one or more nonresidents of the State of Mississippi, shall, in addition to having the approval of the commissioner of insurance of all stock sales, likewise qualify the sale of stock in such company with the securities exchange commission.
MS Code § 83-19-45 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-45. Organization through sale of stock in holding company prohibited

 No insurance company shall be organized through the sale of stock in a holding or investment company.
MS Code § 83-19-47 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-47. Violation to invalidate organization of company

 Any violation of the provisions in Sections 83-19-33 through 83-19-45 shall invalidate the organization of any proposed domestic insurance company, either prior to or following its licensing by the insurance department.
MS Code § 83-19-49 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-49. License fees

 The licensing fees applicable to domestic insurance companies and stock salesmen shall be as provided in Section 83-5-19, Mississippi Code of 1972.
MS Code § 83-19-53 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-53. Investment to finance buildings for General Services Administration

 A domestic insurance company may invest its funds in financing the construction of public buildings and improvements for the use of the United States of America through the General Services Administration pursuant to the provisions of Title I, Public Law 519, 83rd Congress, known as the Public Buildings Purchase Contract Act of 1954 (68 Stat. 518), as amended by Public Law 150, 84th Congress (69 Stat. 297), and Public Law 667, 84th Congress (70 Stat. 510), which amends the Public Buildings Act of 1949, Public Law 105, 81st Congress, approved June 16, 1949 (63 Stat. 176), and all laws amendatory thereof or supplemental thereto; and to that end may acquire, hold and convey real estate and other property and make and enter into any and all contracts and agreements deemed necessary or advisable by it to carry out the purposes of this section and protect the interests of such company; provided, however, that repayment of the loans and advances for such construction, with interest thereon, shall be obligations of or guaranteed by the United States of America.   This section is cumulative to and shall not repeal any other statutes of this state dealing with the investment of funds or the acquisition, holding, and conveyance of property by a domestic insurance company.
MS Code § 83-19-55 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-55. Real estate holdings

 A domestic company may acquire, hold, and convey real estate for the purposes and in the manner only following:   The buildings in which it has its principal office and the land on which it stands.   Such as shall be requisite for its convenient accommodation in the transaction, enlargement, and advancement of its business.   Such as shall have been acquired for the accommodation of its business.   Such real estate as it may purchase or hold for the production of income. It may improve or otherwise develop in any manner such real estate and the improvements thereon, and may own, maintain, manage, collect and receive income from, and sell or convey the same. Said real estate described in paragraphs (a), (b), (c) and (d) shall not exceed in value, as evidenced by its original purchase price including any encumbrances thereon, fifteen percent (15%) of the assets of such company, unless the company file with the commissioner application for permission to exceed said proportion, stating its reasons therefor, and obtain his certificate approving the same.   Such as shall have been mortgaged to it in good faith, by way of security for loans previously contracted for money due.   Such as shall have been conveyed to it in satisfaction of debts previously contracted in the course of its dealings.   Such as it shall have purchased at sales on judgments, decrees or mortgages obtained or made for debts.   All real estate specified in paragraphs (c), (e), (f) and (g) of this section shall be sold by the company and disposed of within five (5) years after it shall have acquired the title to the same, unless the company obtain the certificate of the commissioner that its interests will suffer materially from a forced sale thereof, in which event the time for the sale may be extended to such time as the commissioner shall direct in such certificate. The company may, however, elect to consider property acquired as specified in paragraphs (c), (e), (f) and (g) as real estate for the production of income, as defined in paragraph (d). Such election shall be evidenced by a written notice thereof to the commissioner, and, where such election is made, property so acquired shall be subject to the limitation of fifteen percent (15%) of the company's assets, as defined in paragraph (d), and shall not be required to be sold within said five-year period.
MS Code § 83-19-57 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-57. Capital impairment

 When the net assets of a company do not amount to more than three-fourths (3/4) of its original paid-up capital, it may make good its capital to the original amount by assessment of its stock, and shall not write any new business until same is made good or reduced to minimum amount required by this chapter. If such company shall not, within three (3) months after notice from the commissioner to that effect, make good its capital as aforesaid or reduce the same, its authority to transact new business of insurance will be revoked by said commissioner.
MS Code § 83-19-59 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-59. Application to increase or reduce capital stock

 The commissioner shall, upon application, examine the proceedings of domestic companies to increase or reduce their capital stock and, when found conformable to law shall indorse certificates thereof and shall issue certificates of authority to such company to transact business upon such increased or reduced capital. He shall not allow stockholders' obligations of any description as part of the assets or capital of any insurance company unless the same are secured by competent collateral.
MS Code § 83-19-61 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-61. Increase of capital stock

 Any such company having a paid-up capital, as required by law, may increase its capital stock by a vote of its stockholders, and issue certificates for the additional shares, which may be paid for in cash or in such installments as the company may determine. Such certificates shall show on their face the amount actually paid (unless paid in full), and no capital shall be advertised except the amount actually paid. The company shall, within thirty (30) days after authorizing such increase of capital, report the fact to the commissioner, setting forth the amount of such increase and the amount of same to be paid in cash. If the commissioner finds that the facts conform to the law, he shall indorse his approval thereon; and upon filing such certificate so indorsed with the secretary of state and paying a fee of Five Dollars ($5.00) for filing and recording the same, the company may continue to dispose of such authorized increase as has not been disposed of, and to transact business upon the capital as thus increased. As soon as the whole of such authorized increase has been placed or disposed of, the company shall report the fact to the commissioner; and if not disposed of in six (6) months from the date of the first report herein required, a report shall then be made of the transactions to that date.
MS Code § 83-19-63 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-63. Reduction of capital stock

 When the capital stock of a company is impaired, such company may, upon a vote of the majority of the stock represented at a meeting called for that purpose, reduce its capital stock and the number of shares thereof to an amount not less than the minimum sum required by law. No part of its assets and property shall be distributed to its stockholders, but shall remain as surplus fund. Within ten (10) days after such meeting, the company shall submit to the commissioner a certificate setting forth the proceedings thereof, the amount of such reduction, and the assets and liabilities of the company, signed and sworn to by its president, secretary, and a majority of its directors. The commissioner shall examine the facts in the case and, if the same conform to law and in his judgment the proposed reduction may be made without prejudice to the public, he shall indorse his approval upon the certificate. Upon filing the certificate so indorsed in the office of the secretary of state and paying a fee of Five Dollars ($5.00) for the filing and recording thereof, the company may transact business upon the basis of such reduced capital as though the same were its original capital. Its charter shall be deemed to be amended to conform thereto, and the secretary of state shall issue his certificate to that effect. Such company may, by a majority vote of its directors after such reduction, require the return of the original certificates of stock held by each stockholder in exchange for new certificates it may issue in lieu thereof for such number of shares as each stockholder is entitled to in the proportion that the reduced capital bears to the original.
MS Code § 83-19-65 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-65. Dividends

 No stock company shall make a dividend, either in cash or stock certificates, except from its actual net surplus computed as required by law in its annual statements. Nor shall any company which has ceased to do new business of insurance divide any portion of its assets, except surplus, to its stockholders until it shall have performed or cancelled its policy obligations.
MS Code § 83-19-67 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-67. Regulation of management contracts

 Any management contract between a domestic insurer and another person, as defined in Section 83-6-1(f), shall be filed and subject to review and final approval of the State Insurance Department.
MS Code § 83-19-69 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-69. Certain contracts prohibited in another state

 Subject to the exceptions set forth herein, no domestic insurer shall enter into a contract of insurance upon the life or person of a resident of any other state, or covering property or risks located in any other state, unless such insurer is authorized pursuant to the laws of such other state to do business therein.   The following constitute the exceptions to the foregoing provisions of this section:   Life insurance contracts entered into where the prospective insurant is personally present in a state in which the insurer is authorized to do business when he signs the application.   Issuance of certificates under any lawfully transacted group life, group accident, group health, or other group disability policy, where the master policy is entered into in a state in which the insurer is authorized to do business.   Contracts made pursuant to a pension or retirement plan of an employer, when such contracts are applied for in a state where the employer is personally present or doing business and the insurer is authorized to do business.   The renewal, reinstatement, conversion, or continuance in force with or without modification of contracts otherwise lawfully entered into and which were not originally executed in violation of this section, where the terms of such policy as originally executed leave no option as to renewal, reinstatement, or continuance in force to the insurer, but vest such rights in the insured alone.   Reinsurance contracts entered into upon request from companies in other states covering risks in other states, provided such companies requesting reinsurance are licensed in the states in which the risks are located.   Any company wilfully violating this section shall be subject to suspension of its license to do business in this state for a period of not more than one (1) year, after ten (10) days' notice in writing and hearing by the commissioner of insurance.
MS Code § 83-19-75 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-75. Penalty for failure to report impairment of surplus

 If the surplus of any domestic insurance company or association shall be impaired, as provided in Sections 83-19-75 and 83-19-77, and such impairment shall not be reported to the Commissioner of Insurance of this state within ten (10) days after such impairment occurs or results, the executive officers, secretary, treasurer, and directors of such company shall each be guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine of not more than Five Hundred Dollars ($500.00) or by imprisonment in the county jail for not more than six (6) months, or by both such fine and imprisonment, in the discretion of the court.
MS Code § 83-19-77 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-77. Exceptions to surplus requirements

 Sections 83-19-75 and 83-19-77 shall not be construed as applicable to fraternal, benevolent, or burial associations, or any other organization not specifically named in the foregoing schedule.
MS Code § 83-19-79 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-79. "Equity security" defined

 The term "equity security" when used in Sections 83-19-79 through 83-19-97 means any stock or similar security; or any security convertible, with or without consideration, into such a security, or carrying any warrant or right to subscribe to or purchase such a security; or any such warrant or right; or any other security which the commissioner of insurance shall deem to be of similar nature and consider necessary or appropriate, by such rules and regulations as he may prescribe in the public interest or for the protection of investors, to treat as an equity security.
MS Code § 83-19-81 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-81. Statements of ownership of equity securities

 Every person who is directly or indirectly the beneficial owner of more than ten percent (10%) of any class of any equity security of a domestic stock insurance company, or who is a director or an officer of such company, shall file in the office of the commissioner of insurance within ten (10) days after he becomes such beneficial owner, director, or officer, a statement in such form as the commissioner of insurance may prescribe of the amount of all equity securities of such company of which he is the beneficial owner; and within ten (10) days after the close of each calendar month thereafter, if there has been a change in such ownership during such month, shall file in the office of the commissioner of insurance a statement in such form as the commissioner of insurance may prescribe, indicating his ownership at the close of the calendar month and such changes in his ownership as have occurred during such calendar month.