reglab/housing_qa huggingface dataset:
MS Code § 83-5-113 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 2 - Audit of Financial Statements of Insurers|§ 83-5-113. Definition, availability and maintenance of certified public accountant work papers

 Work papers are the records kept by the independent certified public accountant of the procedures followed, the tests performed, the information obtained and the conclusion reached pertinent to his examination of the financial statements of an insurer. Work papers, accordingly, may include audit planning documentation, work programs, analyses, memoranda, letters of confirmation and representation, abstracts of company documents and schedules or commentaries prepared or obtained by the independent certified public accountant in the course of his examination of the financial statements of an insurer and which support his opinion thereof.   Every insurer required to file an audited financial report pursuant to Sections 83-5-101 through 83-5-113 shall require the accountant to make available for review by department examiners all work papers prepared in the conduct of his examination and any communications related to the audit between the accountant and the insurer, at the offices of the insurer, at the Department of Insurance or at any other reasonable place designated by the commissioner. The insurer shall require that the accountant retain the audit work papers and communications until the Department of Insurance has filed a report on examination covering the period of the audit, but no longer than seven (7) years from the date of the audit report.   In the conduct of the aforementioned periodic review by the department examiners, it shall be agreed that photocopies of pertinent audit work papers may be made and retained by the department. Such reviews by the department examiners shall be considered investigations and all work papers and communications obtained during the course of such investigations shall be afforded the same confidentiality as other examination work papers generated by the department.
MS Code § 83-5-114 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 2 - Audit of Financial Statements of Insurers|§ 83-5-114. Severability

 If any section or portion of a section of Sections 83-5-101 through 83-5-113 or its applicability to any person or circumstance is held invalid by a court, the remainder of this chapter or the applicability of the provision to other persons or circumstances shall not be affected.
MS Code § 83-5-115 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 2 - Audit of Financial Statements of Insurers|§ 83-5-115. Authority of Department of Insurance to determine method of calculating values of stocks, bonds and other sureties held by insurer

  All bonds or other evidences of debt having a fixed term and rate of interest held by an insurer, if secured and not in default as to principal or interest, may be valued as follows:   If purchased at par, at the par value.   If purchased above or below par, on the basis of the purchase price adjusted to bring the value to par at maturity and to yield in the meantime the effective rate of interest at which the purchase was made, or in lieu of this method, according to any accepted method of valuation approved by the Department of Insurance.   Purchase price shall not be taken at a higher figure than the actual market value at the time of purchase, plus actual brokerage, transfer, postage or express charges paid in the acquisition of the securities.     The Department of Insurance shall have full discretion in determining the method of calculating values according to the rules set forth in this section, but no method or valuation shall be inconsistent with any applicable valuation or method used by insurers in general or any method formulated or approved by the National Association of Insurance Commissioners or its successor organization.
MS Code § 83-5-117 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 2 - Audit of Financial Statements of Insurers|§ 83-5-117. Methods of valuation which may be used to calculate values of stocks, bonds and other sureties held by insurer

  Securities, other than those referred to in 83-5-115, held by an insurer shall be valued, in the discretion of the Department of Insurance, at their market value or at their appraised value or at prices determined by it as representing their fair market value.   Preferred or guaranteed stocks or shares while paying full dividends may be carried at a fixed value in lieu of market value, at the discretion of the Department of Insurance and in accordance with the method of valuation as it may approve.   Stock of a subsidiary corporation of an insurer shall not be valued at an amount in excess of the net value thereof as based upon those assets only of the subsidiary which would be eligible under either Section 83-6-2 or 83-19-51 for investment of the funds of the insurer directly.   No valuations under this section shall be inconsistent with any applicable valuation or method formulated or approved by the National Association of Insurance Commissioners or its successor organization.
MS Code § 83-5-120 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 2 - Audit of Financial Statements of Insurers|§ 83-5-120. Internal audit function requirements

  Exemption.An insurer is exempt from the requirements of this section if:   The insurer has annual direct written and unaffiliated assumed premium, including international direct and assumed premium but excluding premiums reinsured with the Federal Crop Insurance Corporation and Federal Flood Program, less than Five Hundred Million Dollars ($500,000,000.00); and   If the insurer is a member of a group of insurers, the group has annual direct written and unaffiliated assumed premium, including international direct and assumed premium, but excluding premiums reinsured with the Federal Crop Insurance Corporation and Federal Flood Program, less than One Billion Dollars ($1,000,000,000.00).  Note: An insurer or group of insurers exempt from the requirements of this section is encouraged, but not required, to conduct a review of the insurer business type, sources of capital, and other risk factors to determine whether an internal audit function is warranted. The potential benefits of an internal audit function should be assessed and compared against the estimated costs.      Function.The insurer or group of insurers shall establish an internal audit function providing independent, objective and reasonable assurance to the audit committee and insurer management regarding the insurer's governance, risk management and internal controls. This assurance shall be provided by performing general and specific audits, reviews and tests and by employing other techniques deemed necessary to protect assets, evaluate control effectiveness and efficiency, and evaluate compliance with policies and regulations.   Independence.In order to ensure that internal auditors remain objective, the internal audit function must be organizationally independent. Specifically, the internal audit function will not defer ultimate judgment on audit matters to others, and shall appoint an individual to head the internal audit function who will have direct and unrestricted access to the board of directors. Organizational independence does not preclude dual-reporting relationships.   Reporting.The head of the internal audit function shall report to the audit committee regularly, but no less than annually, on the periodic audit plan, factors that may adversely impact the internal audit function's independence or effectiveness, material findings from completed audits and the appropriateness of corrective actions implemented by management as a result of audit findings.   Additional requirements.If an insurer is a member of an insurance holding company system or included in a group of insurers, the insurer may satisfy the internal audit function requirements set forth in this section at the ultimate controlling parent level, an intermediate holding company level or the individual legal entity level.
MS Code § 83-5-121 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 2 - Audit of Financial Statements of Insurers|§ 83-5-121. Conduct of insurer in connection with the preparation of required reports and documents

  No director or officer of an insurer shall, directly or indirectly:   Make or cause to be made a materially false or misleading statement to an accountant in connection with any audit, review or communication required under this section; or   Omit to state, or cause another person to omit to state, any material fact necessary in order to make statements made, in light of the circumstances under which the statements were made, not misleading to an accountant in connection with any audit, review or communication required under this section.     No officer or director of an insurer, or any other person acting under the direction thereof, shall directly or indirectly take any action to coerce, manipulate, mislead or fraudulently influence any accountant engaged in the performance of an audit pursuant to this section if that person knew or should have known that the action, if successful, could result in rendering the insurer's financial statements materially misleading.   For purposes of subsection (2) of this section, actions that, "if successful, could result in rendering the insurer's financial statements materially misleading" include, but are not limited to, actions taken at any time with respect to the professional engagement period to coerce, manipulate, mislead or fraudulently influence an accountant:   To issue or reissue a report on an insurer's financial statements that is not warranted in the circumstances (due to material violations of statutory accounting principles prescribed by the commissioner, generally accepted auditing standards, or other professional or regulatory standards);   Not to perform audit, review or other procedures required by generally accepted auditing standards or other professional standards;   Not to withdraw an issued report; or   Not to communicate matters to an insurer's audit committee.
MS Code § 83-5-125 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 2 - Audit of Financial Statements of Insurers|§ 83-5-125. Canadian and British companies

  In the case of Canadian and British insurers, the annual audited financial report shall be defined as the annual statement of total business on the form filed by such companies with their supervision authority duly audited by an independent chartered accountant.   For such insurers, the letter required in Section 83-5-106 shall state that the accountant is aware of the requirements relating to the annual audited financial report filed with the commissioner pursuant to Section 83-5-101 and shall affirm that the opinion expressed is in conformity with those requirements.
MS Code § 83-5-201 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 3 - Periodic Financial Examinations of Insurers|§ 83-5-201. Purpose of sections 83-5-201 through 83-5-217

 The purpose of Sections 83-5-201 through 83-5-217 is to provide an effective and efficient system for examining the activities, operations, financial condition and affairs of all persons transacting the business of insurance in this state and all persons otherwise subject to the jurisdiction of the commissioner. Sections 83-5-201 through 83-5-217 are intended to enable the commissioner to adopt a flexible system of examinations which directs resources as may be deemed appropriate and necessary for the administration of the insurance and insurance related laws of this state.
MS Code § 83-5-203 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 3 - Periodic Financial Examinations of Insurers|§ 83-5-203. Definitions

 The following terms as used in Sections 83-5-201 through 83-5-217 shall have the respective meanings hereinafter set forth:   "Commissioner" means the Commissioner of Insurance.   "Company" means any person engaging in or proposing or attempting to engage in any transaction or kind of insurance or surety business, and any person or group of persons who may otherwise be subject to the administrative, regulatory or taxing authority of the commissioner.   "Department" means the Department of Insurance.   "Examiner" means any individual or firm having been authorized by the commissioner to conduct an examination under Sections 83-5-201 through 83-5-217.   "Insurer" means an insurer as the term is used in Section 83-5-1.   "Person" means any individual, aggregation of individuals, trust, association, partnership or corporation, or any affiliate thereof.
MS Code § 83-5-211 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 3 - Periodic Financial Examinations of Insurers|§ 83-5-211. Appointment of examiners

  No examiner may be appointed by the commissioner if such examiner, either directly or indirectly, has a conflict of interest or is affiliated with the management of or owns a pecuniary interest in any person subject to examination under Sections 83-5-201 through 83-5-217. This section shall not be construed to automatically preclude an examiner from being:   A policyholder or claimant under an insurance policy;   A grantor of a mortgage or similar instrument on the examiner's residence to a regulated entity if done under customary terms and in the ordinary course of business;   An investment owner in shares of regulated diversified investment companies; or   A settlor or beneficiary of a "blind trust" into which any otherwise impermissible holdings have been placed.     Notwithstanding the requirements of this section the commissioner may retain from time to time, on an individual basis, qualified actuaries, certified public accountants or other similar individuals who are independently practicing their professions, even though such persons may from time to time be similarly employed or retained by persons subject to examination under Sections 83-5-201 through 83-5-217.
MS Code § 83-5-213 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 3 - Periodic Financial Examinations of Insurers|§ 83-5-213. Compensation and expenses of examiner

 The compensation and expense of such examiner shall not exceed that approved by the National Association of Insurance Commissioners for all examiners on such examinations unless approved by the commissioner. An itemized account of such charges shall be submitted to and approved by the commissioner.
MS Code § 83-5-215 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 3 - Periodic Financial Examinations of Insurers|§ 83-5-215. Reports to be furnished to State Tax Commission; Tax Commission not precluded from performing additional audits

 The results of audits performed hereunder by the commissioner shall be furnished to the State Tax Commission within thirty (30) days of completion. Nothing herein shall be construed to prohibit the State Tax Commission from performing such additional audits or verifications as it may deem necessary to ensure the proper payment of taxes.
MS Code § 83-5-217 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 3 - Periodic Financial Examinations of Insurers|§ 83-5-217. No cause of action against examiners; no cause of action against person providing information to examiner; statutory privilege or immunity not abridged; examiner's right to award of attorney fees in civil action

  No cause of action shall arise, nor shall any liability be imposed against the commissioner, the commissioner's authorized representatives or any examiner appointed by the commissioner for any statements made or conduct performed in good faith while carrying out Sections 83-5-201 through 83-5-217.   No cause of action shall arise, nor shall any liability be imposed against any person for the act of communicating or delivering information or data to the commissioner or the commissioner's authorized representative or examiner pursuant to an examination made under Sections 83-5-201 through 83-5-217 if such act of communication or delivery was performed in good faith and without fraudulent intent or the intent to deceive.   This section does not abrogate or modify in any way any common law or statutory privilege or immunity heretofore enjoyed by any person identified in subsection (1) of this section.   A person identified in subsection (1) of this section shall be entitled to an award of attorney's fees and costs if he or she is the prevailing party in a civil cause of action for libel, slander or any other relevant tort arising out of activities in carrying out Sections 83-5-201 through 83-5-217 and the party bringing the action was not substantially justified in doing so. For purposes of this section, a proceeding is "substantially justified" if it had a reasonable basis in law or fact at the time that it was initiated.
MS Code § 83-5-253 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 4 - "Insurable Interest" Requirements|§ 83-5-253. Consent of insured required in certain cases

 No life or health insurance contract upon an individual, except a contract of group life insurance or annuity or of group health insurance, or replacement contracts, shall be made or effectuated, unless at the time of the making of the contract the insured, applies therefor or has consented thereto in writing or has had the application acknowledged in writing by the insurance company, except that any person having an insurable interest in the life of a minor or any person upon whom a minor is dependent for support and maintenance may effectuate insurance upon the life of or pertaining to such minor.
MS Code § 83-5-255 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 4 - "Insurable Interest" Requirements|§ 83-5-255. Enforcement by commissioner

 The Commissioner of Insurance is authorized to use any of the powers established under the insurance laws of the state to enforce Sections 83-5-251 through 83-5-257.
MS Code § 83-5-257 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 4 - "Insurable Interest" Requirements|§ 83-5-257. Provisions cumulative of existing statutory and common law

 Sections 83-5-251 through 83-5-257 are cumulative of existing law in Mississippi, statutory and common law on the question of insurable interest.
MS Code § 83-5-301 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 5 - Filing Copy of Annual Statement With National Association of Insurance Commissioners; Generation of Reports|§ 83-5-301. Applicability of Sections 83-5-301 through 83-5-309

 Sections 83-5-301 through 83-5-309 shall apply to all domestic, foreign and alien insurers authorized to transact business in this state.
MS Code § 83-5-303 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 5 - Filing Copy of Annual Statement With National Association of Insurance Commissioners; Generation of Reports|§ 83-5-303. Annual filings; hardship exemption; foreign insurers

    Each domestic, foreign and alien insurer authorized to transact insurance in this state shall annually on or before March 1 of each year, file with the National Association of Insurance Commissioners a copy of its annual statement convention blank, along with such additional filings as prescribed by the Commissioner of Insurance for the preceding year. The information filed with the National Association of Insurance Commissioners shall be in the same format and scope as that required by the Commissioner of Insurance and shall include the signed jurat page and the actuarial certification. Any amendments and addenda to the annual statement filing subsequently filed with the Commissioner of Insurance shall also be filed with the National Association of Insurance Commissioners.   The Commissioner of Insurance may grant a hardship exemption to any domestic industrial life company transacting business in Mississippi only. No exemption shall be granted to any industrial life company transacting business across state lines.     Foreign insurers that are domiciled in a state which has a law substantially similar to subsection (1) of this section shall be deemed in compliance with this section.
MS Code § 83-5-305 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 5 - Filing Copy of Annual Statement With National Association of Insurance Commissioners; Generation of Reports|§ 83-5-305. Civil liability of those dealing with information developed from filings

 In the absence of actual malice, members of the National Association of Insurance Commissioners, their duly authorized committees, subcommittees and task forces, their delegates, National Association of Insurance Commissioners employees and all others charged with the responsibility of collecting, reviewing, analyzing and disseminating the information developed from the filing of the annual statement convention blanks shall be acting as agents of the Commissioner of Insurance under the authority of Sections 83-5-301 through 83-5-309 and, while performing such tasks, shall be subject to civil liability only to the same extent as the Commissioner of Insurance.
MS Code § 83-5-307 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 5 - Filing Copy of Annual Statement With National Association of Insurance Commissioners; Generation of Reports|§ 83-5-307. Confidentiality

 All financial analysis ratios and examination synopses concerning insurance companies that are submitted to the Department of Insurance by the National Association of Insurance Commissioners' Insurance Regulatory Information System are confidential and may not be disclosed by the department.
MS Code § 83-5-309 (2020)
2020 Mississippi Code|Title 83 - Insurance|Chapter 5 - General Provisions Relative to Insurance and Insurance Companies|Article 5 - Filing Copy of Annual Statement With National Association of Insurance Commissioners; Generation of Reports|§ 83-5-309. Failure to file; revocation, suspension or refusal of certificate of authority

 The Commissioner of Insurance may suspend, revoke or refuse to renew the certificate of authority of any insurer failing to file its annual statement when due or within any extension of time which the commissioner, for good cause, may have granted.