reglab/housing_qa huggingface dataset:
MS Code § 83-18-15 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 18 - Insurance Administrators and Managing General Agents|Insurance Administrators|§ 83-18-15. Administrator's duties as fiduciary for insurer

  All insurance charges or premiums collected by an administrator on behalf of or for an insurer or insurers, and the return of premiums received from that insurer or insurers, shall be held by the administrator in a fiduciary capacity. Such funds shall be immediately remitted to the person or persons entitled to them or shall be deposited promptly in a fiduciary account established and maintained by the administrator in a federally insured financial institution. The written agreement between the administrator and the insurer shall provide for the administrator to periodically render an accounting to the insurer detailing all transactions performed by the administrator pertaining to the business underwritten by the insurer.   If charges or premiums deposited in a fiduciary account have been collected on behalf of or for one or more insurers, the administrator shall keep records clearly recording the deposits in and withdrawals from the account on behalf of each insurer. The administrator shall keep copies of all the records, and upon request of an insurer, shall furnish the insurer with copies of the records pertaining to such deposits and withdrawals.   The administrator shall not pay any claim by withdrawals from a fiduciary account in which premiums or charges are deposited. Withdrawals from such account shall be made as provided in the written agreement between the administrator and the insurer. The written agreement shall address, but not be limited to, the following:   Remittance to an insurer entitled to remittance;   Deposit in an account maintained in the name of the insurer;   Transfer to and deposit in a claims-paying account, with claims to be paid as provided in subsection (4);   Payment to a group policyholder for remittance to the insurer entitled to such remittance;   Payment to the administrator of its commissions, fees or charges; and   Remittance of return premium to the person or persons entitled to such return premium.     All claims paid by the administrator from funds collected on behalf of or for an insurer shall be paid only on drafts or checks of and as authorized by the insurer.
MS Code § 83-18-17 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 18 - Insurance Administrators and Managing General Agents|Insurance Administrators|§ 83-18-17. Administrator's compensation not to be contingent on claim experience

  An administrator shall not enter into any agreement or understanding with an insurer in which the effect is to make the amount of the administrator's commissions, fees or charges contingent upon savings effected in the adjustment, settlement and payment of losses covered by the insurer's obligations. This provision shall not prohibit an administrator from receiving performance-based compensation for providing hospital or other auditing services.   This section shall not prevent the compensation of an administrator from being based on premiums or charges collected or the number of claims paid or processed.
MS Code § 83-18-19 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 18 - Insurance Administrators and Managing General Agents|Insurance Administrators|§ 83-18-19. Disclosure requirements of administrator

  When the services of an administrator are utilized, the administrator shall provide a written notice approved by the insurer to covered individuals advising them of the identity of, and relationship among, the administrator, the policyholder and the insurer.   When an administrator collects funds, the reason for collection of each item must be identified to the insured party and each item must be shown separately from any premium. Additional charges may not be made for services to the extent the services have been paid for by the insurer.   The administrator shall disclose to the insurer or employer all charges, fees and commissions received from all services in connection with the provision of administrative services for the insurer, including any fees or commissions paid by insurers providing reinsurance.
MS Code § 83-18-21 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 18 - Insurance Administrators and Managing General Agents|Insurance Administrators|§ 83-18-21. Administrator to deliver written notices from insurer promptly

 Any policies, certificates, booklets, termination notices or other written communications delivered by the insurer to the administrator for delivery to insured parties or covered individuals shall be delivered by the administrator promptly after receipt of instructions from the insurer to deliver them.
MS Code § 83-18-25 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 18 - Insurance Administrators and Managing General Agents|Insurance Administrators|§ 83-18-25. Waiver of application requirements where administrator certified in another state

 Upon request from an administrator, the commissioner may waive the application requirements of subsection (2) of Section 83-18-23 if the administrator has a valid certificate of authority as an administrator issued in a state which has standards for administrators that are at least as stringent as those contained in the model statute for third party administrators of the National Association of Insurance Commissioners.
MS Code § 83-18-27 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 18 - Insurance Administrators and Managing General Agents|Insurance Administrators|§ 83-18-27. Annual report of administrators

  Each administrator shall file an annual report for the preceding calendar year with the commissioner on or before March 1 of each year, or within such extension of time therefor as the commissioner for good cause may grant. The report shall be in the form and contain such matters as the commissioner prescribes and shall be verified by at least two (2) officers of the administrator.   The annual report shall include the complete names and addresses of all insurers with which the administrator had an agreement during the preceding fiscal year.   At the time of filing its annual report, the administrator shall pay a filing fee as required by the commissioner.
MS Code § 83-18-29 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 18 - Insurance Administrators and Managing General Agents|Insurance Administrators|§ 83-18-29. Suspension or revocation of certificate of authority; fine in lieu of suspension or revocation

  The certificate of authority of an administrator shall be suspended or revoked if the commissioner finds that the administrator:   Is in an unsound financial condition;   Is using such methods or practices in the conduct of its business so as to render its further transaction of business in this state hazardous or injurious to insured persons or the public; or   Has failed to pay any judgment rendered against it in this state within sixty (60) days after the judgment has become final.     The commissioner may, in his or her discretion, suspend or revoke the certificate of authority of an administrator if the commissioner finds that the administrator:   Has violated any lawful rule or order of the commissioner or any provision of the insurance laws of this state;   Has refused to be examined or to produce its accounts, records and files for examination, or if any of its officers has refused to give information with respect to its affairs or has refused to perform any other legal obligation as to such examination, when required by the commissioner;   Has, without just cause, refused to pay proper claims or perform services arising under its contracts or has, without just cause, caused covered individuals to accept less than the amount due them or caused covered individuals to employ attorneys or bring suit against the administrator to secure full payment or settlement of such claims;   Is affiliated with or under the same general management or interlocking directorate or ownership as another administrator or insurer which unlawfully transacts business in this state without having a certificate of authority;   At any time fails to meet any qualification for which issuance of the certificate could have been refused had such failure then existed and been known to the department;   Has been convicted of, or has entered a plea of guilty or nolo contendere to, a felony without regard to whether adjudication was withheld; or   Is under suspension or revocation in another state.     The commissioner may, in his or her discretion and without advance notice or hearing thereon, immediately suspend the certificate of any administrator if the commissioner finds that one or more of the following circumstances exist:   The administrator is insolvent or impaired;   A proceeding for receivership, conservatorship, rehabilitation or other delinquency proceeding regarding the administrator has been commenced in any state;   The financial condition or business practices of the administrator otherwise pose an imminent threat to the public health, safety or welfare of the residents of this state.     If the commissioner finds that one or more grounds exist for the suspension or revocation of a certificate of authority issued under this chapter, the commissioner may, in lieu of such suspension or revocation, impose a fine upon the administrator.
MS Code § 83-18-101 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 18 - Insurance Administrators and Managing General Agents|Managing General Agents Act|§ 83-18-101. Short title

 Sections 83-18-101 through 83-18-111 may be cited as the Managing General Agents Act.
MS Code § 83-18-103 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 18 - Insurance Administrators and Managing General Agents|Managing General Agents Act|§ 83-18-103. Definitions

 As used in Sections 83-18-101 through 83-18-111:   "Actuary" means a person who is a member in good standing of the American Academy of Actuaries.   "Insurer" means any person, firm, association or corporation duly licensed in this state as an insurance company as defined in Section 83-5-1, Mississippi Code of 1972.   "Managing general agent" means any person, firm, association or corporation who negotiates and binds ceding reinsurance contracts on behalf of an insurer or manages all or part of the insurance business of an insurer (including the management of a separate division, department or underwriting office) and acts as an agent for such insurer whether known as a managing general agent, manager or other similar term, who, with or without the authority, either separately or together with affiliates, produces, directly or indirectly, and underwrites an amount of gross direct written premium equal to or more than five percent (5%) of the policyholder surplus as reported in the last annual statement of the insurer in any one (1) quarter or year together with one or more of the following: (i) adjusts or pays claims in excess of an amount determined by the commissioner; or (ii) negotiates reinsurance on behalf of the insurer.   Notwithstanding the above, the following persons shall not be considered as a managing general agent for the purposes of Sections 83-18-101 through 83-18-111:   An employee of the insurer;   A United States manager of the United States branch of an alien insurer;   An underwriting manager which, pursuant to contract, manages all the insurance operations of the insurer, is under common control with the insurer, subject to the holding company regulatory act, and whose compensation is not based on the volume of premiums written; or   The attorney-in-fact authorized by and acting for the subscribers of a reciprocal insurer or interinsurance exchange under powers of attorney.   "Underwrite" means the authority to accept or reject risk on behalf of the insurer.
MS Code § 83-18-105 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 18 - Insurance Administrators and Managing General Agents|Managing General Agents Act|§ 83-18-105. License required to act as managing general agent; bonding requirement; rules and regulations

  No person, firm, association or corporation shall act in the capacity of a managing general agent with respect to risks located in this state for an insurer licensed in this state unless such person is a licensed producer in this state.   No person, firm, association or corporation shall act in the capacity of a managing general agent representing an insurer domiciled in this state with respect to risks located outside this state unless such person is licensed as a producer in this state (such license may be a nonresident license) under Sections 83-18-101 through 83-18-111.   The commissioner may require a bond in an amount acceptable to him for the protection of the insurer. The commissioner may require the managing general agent to maintain an errors and omissions policy.   The commissioner may adopt reasonable rules and regulations to implement Sections 83-18-101 through 83-18-111.
MS Code § 83-18-109 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 18 - Insurance Administrators and Managing General Agents|Managing General Agents Act|§ 83-18-109. Duties and responsibilities of insurer with respect to each managing general agent it does business with; acts of managing general agent considered acts of insurer

  The insurer shall have on file an independent financial examination, in a form acceptable to the commissioner, of each managing general agent with which it has done business.   If a managing general agent establishes loss reserves, the insurer shall annually obtain the opinion of an actuary attesting to the adequacy of loss reserves established for losses incurred and outstanding on business produced by the managing general agent. This is in addition to any other required loss reserve certification.   The insurer shall periodically (at least semiannually) conduct an on-site review of the underwriting and claims processing operations of the managing general agent.   Binding authority for all reinsurance contracts or participation in insurance or reinsurance syndicates shall rest with an officer of the insurer, who shall not be affiliated with the managing general agent.   Within thirty (30) days of entering into or termination of a contract with a managing general agent, the insurer shall provide written notification of such appointment or termination to the commissioner. Notices of appointment of a managing general agent shall include a statement of duties which the applicant is expected to perform on behalf of the insurer, the lines of insurance for which the applicant is to be authorized to act and any other information the commissioner may request.   An insurer shall review its books and records each quarter to determine if any producer as defined by Section 83-18-103 has become, by operation of Section 83-18-103, a managing general agent as defined in that section. If the insurer determines that a producer has become a managing general agent pursuant to the above, the insurer shall promptly notify the producer and the commissioner of such determination and the insurer and producer must fully comply with the provisions of Sections 83-18-101 and 83-18-111 within thirty (30) days.   An insurer shall not appoint to its board of directors an officer, director, employee, subproducer or controlling shareholder of its managing general agent. This subsection shall not apply to relationships governed by the Insurance Holding Company Act or, if applicable, the Broker Controlled Insurer Act.   The acts of the managing general agent are considered to be the acts of the insurer on whose behalf it is acting. A managing general agent may be examined as if it were the insurer.
MS Code § 83-18-111 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 18 - Insurance Administrators and Managing General Agents|Managing General Agents Act|§ 83-18-111. Penalties for violations; judicial review; rights of policyholders and others not restricted

  If the commissioner finds after a hearing conducted in accordance with Section 83-6-39, Mississippi Code of 1972, that any person has violated Sections 83-18-101 through 83-18-111, the commissioner may order:   For each separate violation, a penalty in an amount not to exceed Five Hundred Dollars ($500.00);   Revocation or suspension of the producer's license; and   The managing general agent to reimburse the insurer, the rehabilitator or liquidator of the insurer for any losses incurred by the insurer caused by a violation of Sections 83-18-101 through 83-18-111 committed by the managing general agent.     The decision, determination or order of the commissioner pursuant to subsection (1) shall be subject to judicial review pursuant to Section 83-6-41, Mississippi Code of 1972.   Nothing contained in this section shall affect the right of the commissioner to impose any other penalties provided for in the insurance law.   Nothing contained in Sections 83-18-101 through 83-18-111 is intended to or shall in any manner limit or restrict the rights of policyholders, claimants and auditors.
MS Code § 83-19-3 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-3. Insurance of apparatus

 All insurance companies authorized to transact fire insurance business in this state may, in addition to the business which they are now authorized by law to do, insure sprinklers, pumps, and other apparatus erected or put in position for the purpose of extinguishing fires, against damage, loss, or injury resulting from accidental causes other than fire; and also insure any property which such companies are authorized to insure against loss or damage by fire against damage, loss, or injury by water or otherwise, resulting from the accidental breaking off or injury to sprinklers, pumps, or other apparatus arising from causes other than fire.
MS Code § 83-19-5 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-5. Expiration of charters under special acts

 Domestic insurance companies, incorporated by special acts, whose charters are subject to limitation of time shall, after such limitation expires, continue to be bodies corporate, subject to all general laws applicable to such companies. No domestic insurance company hereafter organized shall issue policies until, upon examination of the commissioner, his deputy, or examiner, it is found to have complied with the laws of the state, nor until it has obtained from the commissioner a certificate setting forth that fact and authorizing it to issue policies.
MS Code § 83-19-7 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-7. Expiration of charters under general insurance laws

 Domestic insurance companies incorporated under the general insurance laws whose charters are subject to limitation of time and who shall, after such limitation expires, continue to do business for ninety (90) days after March 6, 1956, shall be deemed to have accepted an extension of the time of life of such insurance corporation to a full period of ninety-nine (99) years from the date of the original charter thereof.   Such insurance corporation shall continue in existence as a de jure corporation as fully and completely as if the charter thereof had been thus amended prior to the end of the original period of fifty (50) years.   Likewise, whenever the period of existence of a domestic insurance company heretofore created for a period of fifty (50) years shall expire hereafter, if such corporation shall continue to do business thereafter for a period of ninety (90) days, the same shall operate as an acceptance of an extension of time of the life of such insurance corporation to a full period of ninety-nine (99) years from the date of the original charter thereof, and such insurance corporation shall continue in existence as a de jure corporation as fully and completely as if the charter thereof had been thus amended prior to the end of the original period of fifty (50) years.   Provided, however, that the provisions of this section shall in no way, shape, form, or fashion abate or nullify any suit or claim of whatsoever kind or nature accrued prior to March 6, 1956.
MS Code § 83-19-9 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-9. Powers

 Corporations created under the provisions of this chapter shall have all the powers and privileges enjoyed by corporations created under the general corporation laws of this state, and may issue shares of stock of different classes, within the limits fixed by law, and may fix the relative rights and liability of the holders of each class of stock.
MS Code § 83-19-11 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-11. Organization of insurance companies

 The procedure for organizing such a corporation shall be as follows: The proposed incorporators, a majority of whom must be residents of the state and not less than three (3), shall subscribe articles of association setting forth their intention to form a corporation; its proposed name, which must be approved by the commissioner and must not so closely resemble the name of an existing corporation doing business under the laws of this state as to be likely to mislead the public; the class or classes of insurance it proposes to transact and on what business plan or principle; the place within the state of its location; and, if on the stock plan, the amount of its capital stock. The words "insurance company" must be a part of the title of any such corporation.
MS Code § 83-19-13 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-13. Bylaws

 Any such company may adopt bylaws for the conduct of its business not repugnant to law or to its charter, and shall therein provide for the election of a minimum of three (3) directors. The bylaws may provide for the division of its board of directors into two (2), three (3) or four (4) classes and the election thereof at its annual meetings in such manner as that the members of one (1) class only shall retire and their successors be chosen each year. Vacancies in any such class may be filled by election by the board for the unexpired term.
MS Code § 83-19-15 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 19 - Domestic Companies|General Provisions|§ 83-19-15. Organizational meeting

 The first meeting for the purpose of organization shall be called by a notice signed by one or more of the subscribers to the articles of association, stating the time, place, and purposes of the meeting, a copy whereof shall, seven (7) days at least before the appointed time, be given to each subscriber, or left at his usual place of business or residence, or duly mailed to his post office address. Whoever gives such notice shall make affidavit thereof, which shall include a copy of the notice and be entered upon the records of the corporation. At such first meeting, including any adjournment thereof, an organization shall be effected by the choice of a temporary clerk, who shall be sworn to correctly keep and record the proceedings of the meeting, by the adoption of bylaws, and by the election of directors and such other officers as the bylaws may require; but at such first meeting no person shall be elected director who has not signed the articles of association. The temporary clerk shall record the proceedings until and including the choice and qualification of the secretary. The directors so chosen shall elect a president, secretary, and other officers who, under the bylaws, they are authorized to choose. The offices of president and treasurer shall not be held by the same individual.