reglab/statecodes huggingface dataset:
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 53 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE (§§ 83-53-1 — 83-53-47) › Section 83-53-37 - Judicial review

Any person affected by an order of the commissioner under Section
83-53-35
may obtain a review of such order by filing in the Circuit Court of Hinds County, within thirty (30) days from the date of the service of such order, a complaint praying that the order of the commissioner be modified or set aside. A copy of such petition or complaint shall be forthwith served upon the commissioner, and thereupon the commissioner forthwith shall certify and file in such court a transcript of the entire record in the proceeding, including all the evidence taken and the findings and order of the commissioner. Upon such filing of the petition and transcript, such court shall have jurisdiction of the proceedings and of the question determined therein, shall determine whether the filing of such petition shall operate as a stay of such order of the commissioner, and shall have power to make and enter upon the pleadings, evidence and proceedings set forth in such transcript a judgment modifying, affirming or reversing the order of the commissioner, in whole or in part. Any party, including the commissioner, aggrieved by a final decision of said circuit court, may appeal to the Supreme Court in the manner provided by law.
Laws, 1986, ch. 440, § 19, eff. 5/1/1986.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 53 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE (§§ 83-53-1 — 83-53-47) › Section 83-53-39 - Effective dates of orders; stay of execution or enforcement

A cease and desist order issued by the commissioner under Section
83-53-31
shall become final upon the completion of the time allowed for filing a petition with the commissioner for a hearing if no such petition has been duly filed within such time. If a petition for a hearing is filed within such time pursuant to Section
83-53-33
, the order of the commissioner shall not take effect and be in force until the issuance of an order pursuant to Section
83-53-35
. An order issued pursuant to Section
83-53-35
shall take effect and be in force upon issuance or at such time as may be stated in such order. The commissioner, in his discretion, or the circuit court, upon appeal, may stay the execution or enforcement of any such order.
Laws, 1986, ch. 440, § 20, eff. 5/6/1986.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 53 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE (§§ 83-53-1 — 83-53-47) › Section 83-53-41 - Appeal from order which does not charge violation

If the order of the commissioner under Section
83-53-35
does not charge a violation of this chapter or any rule or regulation pursuant thereto, then any petitioner or intervenor in the proceedings may, within thirty (30) days after the service of such report, file a petition or complaint in the Circuit Court of Hinds County for a review of such order. Upon such review, the court shall have the authority to issue appropriate orders and decrees in connection therewith, including orders enjoining and restraining the continuance of any act which it finds, notwithstanding such order of the commissioner, constitutes a violation of this chapter or any rule or regulation issued pursuant thereto.
Laws, 1986, ch. 440, § 21, eff. 5/1/1986.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 53 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE (§§ 83-53-1 — 83-53-47) › Section 83-53-43 - Penalty for violation of final order; civil action to recover penalty

Any person who violates an order of the commissioner, after it has become final, and while such order is in effect, shall, upon proof thereof to the satisfaction of the court, forfeit and pay to the State of Mississippi a sum to be determined by the commissioner not to exceed Five Thousand Dollars ($5,000.00) for each violation, which if not paid may be recovered in a civil action instituted in the name of the commissioner in the circuit court in the county of the residence of such person who is a resident of the state. In the case of a nonresident, the action shall be brought in the Circuit Court of Hinds County.
Laws, 1986, ch. 440, § 22, eff. 5/6/1986.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 53 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE (§§ 83-53-1 — 83-53-47) › Section 83-53-45 - Time for hearing

Whenever any insurer, agent or other interested party petitions the commissioner for a hearing to consider any alleged violation of this chapter or any rule or regulation issued pursuant thereto, the commissioner shall hold a hearing within thirty (30) days after the petition is filed with the commissioner and proceed as provided in Sections
83-53-33
through
83-53-43
.
Laws, 1986, ch. 440, § 23, eff. 5/6/1986.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 53 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE (§§ 83-53-1 — 83-53-47) › Section 83-53-47 - Relation to other laws

Nothing in this chapter shall be construed to relieve any person from compliance with any other applicable law of this state.
Laws, 1986, ch. 440, § 24, eff. 5/6/1986.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 54 - MISSISSIPPI CREDITOR-PLACED INSURANCE ACT (§§ 83-54-1 — 83-54-31) › Section 83-54-1 - Purpose of chapter

The purposes of this chapter are to:
(a)
Promote the public welfare by regulating creditor-placed insurance;
(b)
Create a legal framework within which creditor-placed insurance may be written in this state;
(c)
Help maintain the separation between creditors and insurers; and
(d)
Minimize the possibilities of unfair competitive practices in the sale of creditor-placed insurance.
Laws, 2001, ch. 307, § 1, eff. 7/1/2001.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 54 - MISSISSIPPI CREDITOR-PLACED INSURANCE ACT (§§ 83-54-1 — 83-54-31) › Section 83-54-3 - Application and construction of chapter

(1)
This chapter applies to an insurer or producer transacting creditor-placed insurance as defined in this chapter.
(2)
All creditor-placed insurance written in connection with credit transactions for personal, family or household purposes is subject to the provisions of this chapter, except:
(a)
Transactions involving extensions of credit primarily for business or commercial purposes;
(b)
Insurance on collateralized real property; provided, however, that creditor-placed insurance written for mobile homes or manufactured housing shall be subject to the provisions of this chapter;
(c)
Insurance offered by the creditor and elected by the debtor at the debtor's option;
(d)
Insurance for which no specific charge is made to the debtor or the debtor's account; or
(e)
Blanket insurance, whether paid for by the debtor or the creditor.
(3)
Nothing in this chapter shall be construed to create or imply a private cause of action for violation of this chapter, and the commissioner shall have authority to bring administrative or judicial proceedings to enforce this chapter.
Laws, 2001, ch. 307, § 2, eff. 7/1/2001.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 54 - MISSISSIPPI CREDITOR-PLACED INSURANCE ACT (§§ 83-54-1 — 83-54-31) › Section 83-54-7 - Effective date and termination date of coverage

(1)
Creditor-placed insurance shall become effective on the latest of the following dates:
(a)
The date of the credit transaction;
(b)
The date prior coverage, including prior creditor-placed insurance coverage lapsed;
(c)
One (1) year before the date on which the related insurance charge is made to the debtor's account; or
(d)
A later date provided for in the agreement between the creditor and insurer.
(2)
Creditor-placed insurance shall terminate on the earliest of the following dates:
(a)
The date other acceptable insurance becomes effective, subject to the debtor providing acceptable evidence of the other insurance to the creditor;
(b)
The date the collateralized personal property is repossessed, unless the property is returned to the debtor within ten (10) days of the repossession. The creditor-placed insurance may be kept in force, but the lender must pay the premium that is earned after repossession;
(c)
The date the collateralized personal property is determined by the insurer to be a total loss;
(d)
The date the debt is completely extinguished; or
(e)
An earlier date specified in the individual policy or certificate of insurance.
(3)
An insurance charge shall not be made to a debtor for a term longer than the scheduled term of the creditor-placed insurance when it becomes effective, nor may an insurance charge be made to the debtor for creditor-placed insurance before the effective date of the insurance.
(4)
If a charge is made to a debtor for creditor-placed insurance coverage that exceeds a term of one (1) year, the debtor shall be notified at least annually that the insurance will be canceled and a refund or credit of unearned charges made if evidence of acceptable insurance secured by the debtor is provided.
Laws, 2001, ch. 307, § 4, eff. 7/1/2001.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 54 - MISSISSIPPI CREDITOR-PLACED INSURANCE ACT (§§ 83-54-1 — 83-54-31) › Section 83-54-9 - Insurance premiums

(1)
Premiums for creditor-placed insurance coverage may be calculated based on:
(a)
An amount not exceeding the net debt even though the coverage may limit the insurer's liability to the net debt, actual cash value or cost of repair; or
(b)
Other premium calculation methods that more closely reflect the exposure of each item insured and approximate the premium calculation method of the coverage required by the credit agreement.
(2)
An insurer shall not write creditor-placed insurance for which the premium rate differs from that determined by the schedules of the insurer on file and approved by the commissioner. The premium or amount charged to the debtor for creditor-placed insurance shall not exceed the premiums charged by the insurer, computed at the time the charge to the debtor is determined.
(3)
A method of billing insurance charges to the debtor on closed-end credit transactions that creates a balloon payment at the end of the credit transaction or extends the credit transaction's maturity date is prohibited, unless specifically disclosed at the time of the origination of the credit agreement.
Laws, 2001, ch. 307, § 5, eff. 7/1/2001.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 54 - MISSISSIPPI CREDITOR-PLACED INSURANCE ACT (§§ 83-54-1 — 83-54-31) › Section 83-54-11 - Exclusions from coverage

(1)
Creditor-placed insurance coverage shall not include:
(a)
Coverage for the cost of repossession;
(b)
Skip, confiscation and conversion coverage;
(c)
Coverage for payment of mechanics' or other liens that do not arise from a covered loss occurrence;
(d)
Coverage that requires a debtor's insurance deductible to be less than Two Hundred Dollars ($200.00); or
(e)
Coverage that is broader than the insurance coverages that meet the minimum insurance requirements of the credit agreement.
(2)
Nothing in this section shall be deemed to prohibit the issuance of a separate policy or endorsement providing the coverages listed in subsection (1) of this section. However, no charge shall be passed along to the debtor for the coverages.
Laws, 2001, ch. 307, § 6, eff. 7/1/2001.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 54 - MISSISSIPPI CREDITOR-PLACED INSURANCE ACT (§§ 83-54-1 — 83-54-31) › Section 83-54-13 - Evidence of insurance coverage

Creditor-placed insurance shall be set forth in an individual policy or certificate of insurance. A copy of the individual policy, certificate of insurance coverage or other evidence of insurance coverage shall be mailed, first-class mail, or delivered in person to the last known address of the debtor.
Laws, 2001, ch. 307, § 7, eff. 7/1/2001.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 54 - MISSISSIPPI CREDITOR-PLACED INSURANCE ACT (§§ 83-54-1 — 83-54-31) › Section 83-54-17 - Insurer to refund unearned premiums within 60 days after termination of coverage; statement of refund provided to debtor

(1)
Within sixty (60) calendar days after the termination of creditor-placed insurance coverage, and in accordance with the formulas approved by the commissioner, an insurer shall refund any unearned premium or other identifiable charges.
(2)
Within sixty (60) calendar days after the termination date of creditor-placed insurance coverage, the insurer or creditor shall provide to the debtor a statement of refund disclosing the effective date, the termination date, the amount of premium being refunded and the amount of premium charged for the coverage provided. No statement shall be required in the event that the policy terminates pursuant to Section
83-54-7(2)(d)
.
(3)
The entire amount of premiums, minimum premiums, fees or charges of any kind shall be refunded if no coverage was provided.
Laws, 2001, ch. 307, § 9, eff. 7/1/2001.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 54 - MISSISSIPPI CREDITOR-PLACED INSURANCE ACT (§§ 83-54-1 — 83-54-31) › Section 83-54-19 - Payment by insurer in the event of loss

(1)
In the event of a loss under the creditor-placed insurance policy, the insurer shall pay, at a minimum, the least of the following, the value of which shall be determined as of the date of loss and shall be reduced by any payments to the creditor or debtor recovered from a third party:
(a)
The cost to repair the collateral, less any applicable deductible;
(b)
The actual cash value of the collateral, less any applicable deductible;
(c)
The net debt, less any applicable deductible; or
(d)
If single interest insurance is provided, the amount by which the creditor's interest is impaired.
(2)
The net debt or actual cash value amounts in subsection (1) may be reduced by the value of salvage if the insurer does not take possession of the insured property. This does not preclude the borrower's right to retain possession of the damaged collateral, if desired.
(3)
In the event of a loss, no subrogation shall run against the debtor from the insurer.
(4)
Whenever a claim is made on a creditor-placed insurance policy, the insurer shall furnish to the creditor a written statement of the loss explaining the settlement amount and the method of settlement, and the creditor shall furnish this information to the debtor.
(5)
A creditor or insurer may not abandon salvage to a towing or storage facility in lieu of payment of storage fees without the consent of the facility and the claimant. The insurer shall be responsible for the payment of towing and storage charges for a covered loss occurrence from the time the claim is reported to the insurer in accordance with the terms of the policy to the time the claim is paid. After the claim is paid, the debtor shall be responsible for the payment of any towing or storage charges.
Laws, 2001, ch. 307, § 10; Laws, 2005, ch. 311, § 1, eff. 7/1/2005.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 54 - MISSISSIPPI CREDITOR-PLACED INSURANCE ACT (§§ 83-54-1 — 83-54-31) › Section 83-54-21 - Prerequisites for creditor to insure collateral; right of debtor to insure collateral

(1)
In order for the creditor to place insurance on the collateral pledged by the debtor and pass the cost of the insurance on to the debtor:
(a)
The creditor must have a security interest in the personal property;
(b)
The credit agreement must require the debtor to maintain insurance on the collateral to protect the creditor's interest;
(c)
The credit agreement must authorize the creditor to place the insurance if the debtor fails to provide evidence of the insurance; and
(d)
The information set forth in paragraphs (a) through (c) of this subsection (1) must be clearly disclosed to the debtor at the inception of the credit transaction.
(2)
The debtor shall always have the right to provide required insurance through existing policies of insurance owned or controlled by the debtor or of procuring and furnishing the required coverage through an insurer authorized to transact insurance within this state. However, a creditor may establish maximum acceptable deductibles, insurer solidity standards and other reasonable conditions with respect to the required insurance.
Laws, 2001, ch. 307, § 11, eff. 7/1/2001.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 54 - MISSISSIPPI CREDITOR-PLACED INSURANCE ACT (§§ 83-54-1 — 83-54-31) › Section 83-54-23 - Entire amount of premium due shall be remitted to insurer in accordance with insurer's requirements; creditor prohibited from retaining unearned premiums upon cancellation without crediting debtor's account; rebates to creditor prohibited

(1)
The entire amount of the premium due from a creditor shall be remitted to the insurer or its producer in accordance with the insurer's requirements. No commissions may be paid to, or retained by, a person or entity except a licensed and appointed insurance producer.
(2)
The retention by the creditor of unearned premiums upon cancellation of the insurance without crediting to the debtor's account the amount of unearned insurance charges is prohibited.
(3)
Rebates to the creditor of a portion of the premium charged to the debtor are prohibited as are other inducements provided to the creditor by an insurer or producer. The listing of the following activities as prohibited rebates or inducements is not intended to be restrictive, and the commissioner may identify an activity as prohibited by rule, regulation or order:
(a)
Allowing insurers or producers to purchase certificates of deposit from the creditor or to maintain accounts with the creditor at less than the market interest rates and charges that the creditor applies to other customers for deposit accounts of similar amounts and duration; and
(b)
Paying a commission to a person, including a creditor, who is not appropriately licensed as a producer in this state.
(4)
Prohibited rebates or inducements do not include:
(a)
The providing of insurance tracking and other services incidental to the creditor-placed insurance program;
(b)
The paying of commissions and other compensation to a duly licensed and appointed insurance producer, whether or not affiliated with the creditor;
(c)
The paying to the creditor policyholder of group experience rated refunds or policy dividends; and
(d)
The paying to the creditor of amounts intended to reimburse the creditor for its expenses incurred incidental to the creditor-placed insurance program (such as costs of data processing, mail processing, telephone service, insurance tracking, billing, collections and related activities); provided that these payments are calculated in a manner that does not exceed an amount reasonably estimated to equal the expenses incurred by the creditor.
(5)
Nothing contained in this section shall prohibit or restrict an insurer or producer from maintaining a demand, premium deposit or other account or accounts with a creditor for which the insurer or agent provides insurance if the accounts pay the market interest rate and charges that the creditor applies to other customers for deposit accounts of similar amounts and duration.
Laws, 2001, ch. 307, § 12, eff. 7/1/2001.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 54 - MISSISSIPPI CREDITOR-PLACED INSURANCE ACT (§§ 83-54-1 — 83-54-31) › Section 83-54-29 - Rules and regulations

The commissioner is authorized after notice and hearing to promulgate rules and regulations to effectuate the purposes of this chapter. The commissioner may require such information as is reasonably necessary for the enforcement of this chapter. All rules and regulations adopted and promulgated pursuant to this chapter shall be subject to the Mississippi Administrative Procedures Law, Section
25-43-1.101
et seq.
Laws, 2001, ch. 307, § 15, eff. 7/1/2001.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 54 - MISSISSIPPI CREDITOR-PLACED INSURANCE ACT (§§ 83-54-1 — 83-54-31) › Section 83-54-31 - Severability

If any provision of this chapter or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of the chapter which can be given effect without the invalid provision or application, and to that end the provisions of this chapter are declared to be severable.
Laws, 2001, ch. 307, § 16, eff. 7/1/2001.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 55 - RISK RETENTION ACT (§§ 83-55-1 — 83-55-29) › Section 83-55-1 - Purpose

The purpose of this chapter is to regulate the formation and/or operation of risk retention groups and purchasing groups in this state formed pursuant to the provisions of the federal Liability Risk Retention Act of 1986 ("RRA 1986"), to the extent permitted by such law.
Laws, 1988, ch. 419, § 1, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 55 - RISK RETENTION ACT (§§ 83-55-1 — 83-55-29) › Section 83-55-5 - Chartering of risk retention groups; submission of plan of operation; revisions of plan; information required

(1)
A risk retention group shall, pursuant to the provisions of the laws of this state be chartered and licensed to write only liability insurance pursuant to this chapter and, except as provided elsewhere in this chapter, must comply with all of the laws, rules, regulations and requirements applicable to such insurers chartered and licensed in this state and with Section
83-55-7
to the extent such requirements are not a limitation on laws, rules, regulations or requirements of this state.
(2)
Before it may offer insurance in any state, each risk retention group shall also submit for approval to the Insurance Commissioner of this state a plan of operation or feasibility study. The risk retention group shall submit an appropriate revision in the event of any subsequent material change in any item of the plan of operation or feasibility study, within ten (10) days of any such change. The group shall not offer any additional kinds of liability insurance, in this state or in any other state, until a revision of such plan or study is approved by the Commissioner.
(3)
At the time of filing its application for charter, the risk retention group shall provide to the Commissioner in summary form the following information: The identity of the initial members of the group, the identity of those individuals who organized the group or who will provide administrative services or otherwise influence or control the activities of the group, the amount and nature of initial capitalization, the coverages to be afforded and the states in which the group intends to operate. Upon receipt of this information, the Commissioner shall forward such information to the National Association of Insurance Commissioners (NAIC). Providing notification to the National Association of Insurance Commissioners is in addition to and shall not be sufficient to satisfy the requirements of Section
83-55-7
or any other sections of this chapter.
Laws, 1988, ch. 419, § 3, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 55 - RISK RETENTION ACT (§§ 83-55-1 — 83-55-29) › Section 83-55-9 - Risk retention groups not to participate in insolvency guaranty funds; no benefits to be received from funds

(1)
No risk retention group shall be required or permitted to join or contribute financially to any insurance insolvency guaranty fund or similar mechanism, in this state, nor shall any risk retention group, or its insureds or claimants against its insureds, receive any benefit from any such fund for claims arising under the insurance policies issued by such risk retention group.
(2)
When a purchasing group obtains insurance covering its members' risks from an insurer not authorized in this state or a risk retention group, no such risks, wherever resident or located, shall be covered by any insurance guaranty fund or similar mechanism in this state.
(3)
When a purchasing group obtains insurance covering its members' risks from an authorized insurer, only risks resident or located in this state shall be covered by any state guaranty fund.
Laws, 1988, ch. 419, § 5, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 55 - RISK RETENTION ACT (§§ 83-55-1 — 83-55-29) › Section 83-55-11 - Policy not required to be countersigned

A policy of insurance issued to a risk retention group or any member of that group shall not be required to be countersigned.
Laws, 1988, ch. 419, § 6, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 55 - RISK RETENTION ACT (§§ 83-55-1 — 83-55-29) › Section 83-55-13 - Purchasing group and insurer subject to all applicable state laws; exceptions

A purchasing group and its insurer or insurers shall be subject to all applicable laws of this state, except that a purchasing group and its insurer or insurers shall be exempt, in regard to liability insurance for the purchasing group, from any law that would:
(a)
Prohibit the establishment of a purchasing group;
(b)
Make it unlawful for an insurer to provide or offer to provide insurance on a basis providing, to a purchasing group or its members, advantages based on their loss and expense experience not afforded to other persons with respect to rates, policy forms, coverages or other matters;
(c)
Prohibit a purchasing group or its members from purchasing insurance on a group basis described in paragraph (b) of this section;
(d)
Prohibit a purchasing group from obtaining insurance on a group basis because the group has not been in existence for a minimum period of time or because any member has not belonged to the group for a minimum period of time;
(e)
Require that a purchasing group must have a minimum number of members, common ownership or affiliation or certain legal form;
(f)
Require that a certain percentage of a purchasing group must obtain insurance on a group basis;
(g)
Otherwise discriminate against a purchasing group or any of its members; or
(h)
Require that any insurance policy issued to a purchasing group or any of its members be countersigned by an insurance agent or broker residing in this state.
Laws, 1988, ch. 419, § 7, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 55 - RISK RETENTION ACT (§§ 83-55-1 — 83-55-29) › Section 83-55-15 - Purchasing group; notice of intent to do business; commissioner as agent for service; additional information required; preexisting groups

(1)
A purchasing group which intends to do business in this state shall, prior to doing business, furnish notice to the Commissioner which shall:
(a)
Identify the state in which the group is domiciled;
(b)
Identify all other states in which the group intends to do business;
(c)
Specify the lines and classifications of liability insurance which the purchasing group intends to purchase;
(d)
Identify the insurance company or companies from which the group intends to purchase its insurance and the domicile of such company;
(e)
Specify the method by which, and the person or persons, if any, through whom insurance will be offered to its members whose risks are resident or located in this state;
(f)
Identify the principal place of business of the group; and
(g)
Provide such other information as may be required by the Commissioner to verify that the purchasing group is qualified under Section
83-55-3(j)
.
(2)
A purchasing group shall, within ten (10) days, notify the Commissioner of any changes in any of the items set forth in subsection (1) of this section.
(3)
The purchasing group shall register with and designate the Commissioner (or other appropriate authority) as its agent solely for the purpose of receiving service of legal documents or process, for which a filing fee shall be determined by the Commissioner, except that such requirements shall not apply in the case of a purchasing group which only purchases insurance that was authorized under the Federal Products Liability Risk Retention Act of 1981, and
(a)
Which in any state of the United States:
(i)
Was domiciled before April 1, 1986; and
(ii)
Is domiciled on and after October 27, 1986;
(b)
Which:
(i)
Before October 27, 1986, purchased insurance from an insurance carrier licensed in any state; and
(ii)
Since October 27, 1986, purchased its insurance from an insurance carrier licensed in any state; or
(c)
Which was a purchasing group under the requirements of the Product Liability Risk Retention Act of 1981 before October 27, 1986.
(4)
Each purchasing group that is required to give notice pursuant to subsection (1) of this section shall also furnish such information as may be required by the Commissioner to:
(a)
Verify that the entity qualifies as a purchasing group;
(b)
Determine where the purchasing group is located; and
(c)
Determine appropriate tax treatment.
(5)
Any purchasing group which was doing business in this state prior to July 1, 1988, shall, within thirty (30) days after July 1, 1988, furnish notice to the Commissioner pursuant to the provisions of subsection (1) of this section and furnish such information as may be required pursuant to subsections (2) and (3) of this section.
Laws, 1988, ch. 419, § 8, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 55 - RISK RETENTION ACT (§§ 83-55-1 — 83-55-29) › Section 83-55-16 - Payment of annual fee to continue to do business in state; penalties for failure to pay fee; filing of annual reports

(1)
Each risk retention group or risk purchasing group which wishes to do or continue to do business in this state shall annually register on or before March 1 of each year. Should a risk retention group or risk purchasing group fail to timely register, the commissioner shall immediately revoke without notice or hearing any registration held by the entity.
(2)
Each risk retention group or risk purchasing group operating in the State of Mississippi shall file with the Mississippi Department of Insurance on or before March 1 of each year a listing of the premiums written on risks in Mississippi.
Laws, 1999, ch. 343, § 1; Laws, 2006, ch. 496, § 1, eff. 7/1/2006.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 55 - RISK RETENTION ACT (§§ 83-55-1 — 83-55-29) › Section 83-55-17 - Purchase of insurance from non-state chartered group or non-state admitted insurer; notice requirements; deductible or self-insured retention not permitted; aggregate limits on purchases

(1)
A purchasing group may not purchase insurance from a risk retention group that is not chartered in a state or from an insurer not admitted in the state in which the purchasing group is located, unless the purchase is effected through a licensed agent or broker acting pursuant to the surplus lines laws and regulations of such state.
(2)
A purchasing group which obtains liability insurance from an insurer not admitted in this state or a risk retention group shall inform each of the members of such group which have a risk resident or located in this state that such risk is not protected by an insurance insolvency guaranty fund in this state, and that such risk retention group or such insurer may not be subject to all insurance laws and regulations of this state.
(3)
No purchasing group may purchase insurance providing for a deductible or self-insured retention applicable to the group as a whole; however, coverage may provide for a deductible or self-insured retention applicable to individual members.
(4)
Purchases of insurance by purchasing groups are subject to the same standards regarding aggregate limits which are applicable to all purchases of group insurance.
Laws, 1988, ch. 419, § 9, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 55 - RISK RETENTION ACT (§§ 83-55-1 — 83-55-29) › Section 83-55-19 - Premium taxes

Premium taxes and taxes on premiums paid for coverage of risks resident or located in this state by a purchasing group or any members of the purchasing groups shall be:
(a)
Imposed at the same rate and subject to the same interest, fines and penalties as that applicable to premium taxes and taxes on premiums paid for similar coverage from a similar insurance source by other insureds; and
(b)
Paid first by such insurance source, and if not by such source by the agent or broker for the purchasing group, and if not by such agent or broker then by the purchasing group, and if not by such purchasing group then by each of its members.
Laws, 1988, ch. 419, § 10, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 55 - RISK RETENTION ACT (§§ 83-55-1 — 83-55-29) › Section 83-55-21 - Powers of commissioner; applicable procedures; injunctive relief

The Commissioner is authorized to make use of any of the powers established under the Insurance Laws of this state to enforce the laws of this state not specifically preempted by the Risk Retention Act of 1986, including the Commissioner's administrative authority to investigate, issue subpoena, conduct depositions and hearings, issue orders, impose penalties and seek injunctive relief. With regard to any investigation, administrative proceedings or litigation, the Commissioner can rely on the procedural laws of this state. The injunctive authority of the Commissioner, in regard to risk retention groups, is restricted by the requirement that any injunction be issued by a court of competent jurisdiction.
Laws, 1988, ch. 419, § 11, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 55 - RISK RETENTION ACT (§§ 83-55-1 — 83-55-29) › Section 83-55-23 - License required to solicit, negotiate or procure liability insurance; notice to insured

(1)
No person, firm, association or corporation shall act or aid in any manner in soliciting, negotiating or procuring liability insurance in this state from a risk retention group unless such person, firm, association or corporation is licensed as an insurance agent or broker in accordance with the laws of this state.
(2)
No person, firm, association or corporation shall act or aid in any manner in soliciting, negotiating or procuring liability insurance in this state for a purchasing group from an authorized insurer or a risk retention group chartered in a state unless such person, firm, association or corporation is licensed as an insurance agent or broker in accordance with the laws of this state.
(3)
No person, firm, association or corporation shall act or aid in any manner in soliciting, negotiating or procuring liability insurance coverage in this state for any member of a purchasing group under a purchasing group's policy unless such person, firm, association or corporation is licensed as an insurance agent or broker in accordance with the laws of this state.
(4)
No person, firm, association or corporation shall act or aid in any manner in soliciting, negotiating or procuring liability insurance from an insurer not authorized to do business in this state on behalf of a purchasing group located in this state unless such person, firm, association or corporation is licensed as a surplus lines agent or excess line broker in accordance with the laws of this state.
(5)
For purposes of acting as an agent or broker for a risk retention group or purchasing group pursuant to subsections (1) and (2) of this section, the requirement of residence in this state shall not apply.
(6)
Every person, firm, association or corporation licensed pursuant to the laws of this state, on business placed with risk retention groups or written through a purchasing group, shall inform each prospective insured of the provisions of the notice required by paragraph (f) of Section
83-55-7
in the case of a risk retention group and subsection (2) of Section
83-55-17
in the case of a purchasing group.
Laws, 1988, ch. 419, § 12, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 55 - RISK RETENTION ACT (§§ 83-55-1 — 83-55-29) › Section 83-55-25 - U.S. District Court injunctions enforceable in state courts

An order issued by any District Court of the United States enjoining a risk retention group from soliciting or selling insurance, or operating in any state (or in all states or in any territory or possession of the United States) upon a finding that such a group is in hazardous financial or financially impaired condition shall be enforceable in the courts of this state.
Laws, 1988, ch. 419, § 13, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 55 - RISK RETENTION ACT (§§ 83-55-1 — 83-55-29) › Section 83-55-27 - Rules and regulations

The Commissioner may establish and from time to time amend such rules and regulations relating to risk retention groups as may be necessary or desirable to carry out the provisions of this chapter.
Laws, 1988, ch. 419, § 14, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 55 - RISK RETENTION ACT (§§ 83-55-1 — 83-55-29) › Section 83-55-29 - Saving clause

If any clause, sentence, paragraph, section or part of this chapter or the application thereof to any person or circumstances, shall, for any reason, be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder of this chapter, and the application thereof to other persons or circumstances, but shall be confined in its operation to the clause, sentence, paragraph, section or part thereof directly involved in the controversy in which such judgment shall have been rendered and to the person or circumstances involved.
Laws, 1988, ch. 419, § 15, eff. 7/1/1988.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 57 - HOME WARRANTIES [Repealed] (§ 83-57-1) › Section 83-57-1 - through 83-57-79 - [Repealed]

Repealed by Laws, 2003, ch. 386, § 2, eff. 3/14/2003.
§ 83-57-1. [Laws, 1988, ch. 525, § 1, eff. 7/1/1988.] § 83-57-3. [Laws, 1988, ch. 525, § 2, eff. 7/1/1988.] § 83-57-5. [Laws, 1988, ch. 525, § 3, eff. 7/1/1988.] § 83-57-7. [Laws, 1988, ch. 525, § 4, eff. 7/1/1988.] § 83-57-9. [Laws, 1988, ch. 525, § 5, eff. 7/1/1988.] § 83-57-11. [Laws, 1988, ch. 525, § 6, eff. 7/1/1988.] § 83-57-13. [Laws, 1988, ch. 525, § 7, Laws 1999, ch. 346, § 1, eff. 7/1/1988.] § 83-57-15. [Laws, 1988, ch. 525, § 8, eff. 7/1/1988.] § 83-57-17. [Laws, 1988, ch. 525, § 9, eff. 7/1/1988.] § 83-57-19. [Laws, 1988, ch. 525, § 10, eff. 7/1/1988.] § 83-57-21. [Laws, 1988, ch. 525, § 11, eff. 7/1/1988.] § 83-57-23. [Laws, 1988, ch. 525, § 12, eff. 7/1/1988.] § 83-57-25. [Laws, 1988, ch. 525, § 13, eff. 7/1/1988.] § 83-57-27. [Laws, 1988, ch. 525, § 14, eff. 7/1/1988.] § 83-57-29. [Laws, 1988, ch. 525, § 15, eff. 7/1/1988.] § 83-57-31. [Laws, 1988, ch. 525, § 16; Laws, 1999, ch. 315, § 1, eff. 7/1/1999.] § 83-57-33. [Laws, 1988, ch. 525, § 17, eff. 7/1/1988.] § 83-57-35. [Laws, 1988, ch. 525, § 18, eff. 7/1/1988.] § 83-57-37. [Laws, 1988, ch. 525, § 19, eff. 7/1/1988.] § 83-57-39. [Laws, 1988, ch. 525, § 20, eff. 7/1/1988.] § 83-57-41. [Laws, 1988, ch. 525, § 21, eff. 7/1/1988.] § 83-57-43. [Laws, 1988, ch. 525, § 22, eff. 7/1/1988.] § 83-57-45. [Laws, 1988, ch. 525, § 23, eff. 7/1/1988.] § 83-57-47. [Laws, 1988, ch. 525, § 24, eff. 7/1/1988.] § 83-57-49. [Laws, 1988, ch. 525, § 25, eff. 7/1/1988.] § 83-57-51. [Laws, 1988, ch. 525, § 26, eff. 7/1/1988.] § 83-57-53. [Laws, 1988, ch. 525, § 27, eff. 7/1/1988.] § 83-57-55. [Laws, 1988, ch. 525, § 28, eff. 7/1/1988.] § 83-57-57. [Laws, 1988, ch. 525, § 29, eff. 7/1/1988.] § 83-57-59. [Laws, 1988, ch. 525, § 30, eff. 7/1/1988.] § 83-57-61. [Laws, 1988, ch. 525, § 31, eff. 7/1/1988.] § 83-57-63. [Laws, 1988, ch. 525, § 32, eff. 7/1/1988.] § 83-57-65. [Laws, 1988, ch. 525, § 33, eff. 7/1/1988.] § 83-57-67. [Laws, 1988, ch. 525, § 34, eff. 7/1/1988.] § 83-57-69. [Laws, 1988, ch. 525, § 35, eff. 7/1/1988.] § 83-57-71. [Laws, 1988, ch. 525, § 36, eff. 7/1/1988.] § 83-57-73. [Laws, 1988, ch. 525, § 37, eff. 7/1/1988.] § 83-57-75. [Laws, 1988, ch. 525, § 38, eff. 7/1/1988.] § 83-57-77. [Laws, 1988, ch. 525, § 39, eff. 7/1/1988.] § 83-57-79. [Laws, 1988, ch. 525, § 40, eff. 7/1/1988.]
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 58 - NEW HOME WARRANTY ACT (§§ 83-58-1 — 83-58-17) › Section 83-58-1 - Short title

This chapter shall be known and may be cited as the "New Home Warranty Act."
Laws, 1997, ch. 465, § 1, eff. 7/1/1997.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 58 - NEW HOME WARRANTY ACT (§§ 83-58-1 — 83-58-17) › Section 83-58-3 - Definitions

For purposes of this chapter the following words and phrases shall have the meanings ascribed herein unless the context clearly indicates otherwise:
(a)
"Builder" means any person, corporation, partnership, or other entity which constructs a home or engages another to construct a home, including a home occupied initially by its builder as his residence, for the purpose of sale.
(b)
"Building standards" means the standards contained in the building code, mechanical-plumbing code, and electrical code in effect in the county, municipality or other local political subdivision where a home is to be located, at the time construction of that home is commenced, or, if the county, city or other local political subdivision has not adopted such codes, the Standard Building Code, together with any additional performance standards, if any, which the builder may undertake to be in compliance.
(c)
"Home" means any new structure designed and used only for residential use.
(d)
"Initial purchaser" means any person for whom a home is built or the first person to whom a home is sold upon completion of construction.
(e)
"Major structural defect" means actual physical damage to any of the following load-bearing portions of a home caused by failure of the load-bearing portions and its load-bearing functions, as follows to wit:
(i)
Foundation systems and footings;
(ii)
Beams;
(iii)
Girders;
(iv)
Lintels;
(v)
Columns;
(vi)
Load-bearing walls and partitions;
(vii)
Floor systems;
(viii)
Roof-framing systems.
(f)
"Owner" means the initial purchaser of a home and any of his successors in title to a home during the time the warranties provided under this chapter are in effect.
(g)
"Warranty commencement date" means the date that legal title to a home is conveyed to its initial purchaser or the date the home is first occupied, whichever occurs first.
Laws, 1997, ch. 465, § 2; Laws, 2012, ch. 405, § 1, eff. 7/1/2012.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 58 - NEW HOME WARRANTY ACT (§§ 83-58-1 — 83-58-17) › Section 83-58-7 - Written notice of defect to builder

Before undertaking any repair himself, except repair to minimize loss or damage as provided in Section
83-58-5(2)(d)
, or instituting any action under Section
83-58-17
, the owner shall give the builder written notice within ninety (90) days after knowledge of the defect by registered or certified mail, advising him of the defects and giving the builder a reasonable opportunity to repair the defect. The builder shall give the owner written notice of the requirements of this chapter at the time of closing. If the builder does not provide such notice, the warranties provided in this chapter shall be extended for a period of time equal to the time between the warranty commencement date and date notice was given.
Laws, 1997, ch. 465, § 4; Laws, 2004, ch. 567, § 2, eff. 7/1/2004.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 58 - NEW HOME WARRANTY ACT (§§ 83-58-1 — 83-58-17) › Section 83-58-9 - Commencement of warranty action

Any action to enforce any warranty provided in this chapter shall commence thirty (30) days after the expiration of the appropriate time period provided.
Laws, 1997, ch. 465, § 5, eff. 7/1/1997.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 58 - NEW HOME WARRANTY ACT (§§ 83-58-1 — 83-58-17) › Section 83-58-11 - Insurance for warranty allegations

All or part of the builder's obligation under any warranty required in this chapter may be insured by the builder for the benefit of the purchaser through an insurance company authorized to transact business in this state.
Laws, 1997, ch. 465, § 6, eff. 7/1/1997.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 58 - NEW HOME WARRANTY ACT (§§ 83-58-1 — 83-58-17) › Section 83-58-13 - Transfer of warranties

Any warranty imposed under the provisions of this chapter and any insurance benefit shall automatically transfer, without charge, to a subsequent owner who acquires title to a home. Any transfer of the home shall not extend the duration of any warranty or insurance coverage.
Laws, 1997, ch. 465, § 7, eff. 7/1/1997.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 58 - NEW HOME WARRANTY ACT (§§ 83-58-1 — 83-58-17) › Section 83-58-15 - Damages; arbitration of claims

The damages with respect to a single defect shall not exceed the reasonable cost of repair or replacement necessary to cure the defect, and damages with respect to all defects in the home shall not exceed the original purchase price of the home.
The parties may provide for the arbitration of any claim in dispute. Any arbitration may be binding only to the extent provided by law.
Laws, 1997, ch. 465, § 8, eff. 7/1/1997.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 58 - NEW HOME WARRANTY ACT (§§ 83-58-1 — 83-58-17) › Section 83-58-17 - Statutory remedy for damages arising from violations of home warranty law; common law remedies

(1)
If a builder violates any of the provisions of this chapter by failing to perform as required by the warranties provided in this chapter, any affected owner shall have a cause of action against the builder for actual damages, including attorney fees and court cost, arising out of the violations.
(2)
Nothing in this chapter shall prevent the owner from filing a cause of action based on breach of contract and remedies attendant to such cause of action.
(3)
If the owner files a civil action without first complying with the provisions of this chapter, the court shall dismiss the action without prejudice, and the action may not be refiled until the claimant has complied with the notice requirements of this chapter.
Laws, 1997, ch. 465, § 9; Laws, 2004, ch. 567, § 3, eff. 7/1/2004.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 59 - BUSINESS TRANSACTED WITH PRODUCER CONTROLLED INSURER ACT (§§ 83-59-1 — 83-59-11) › Section 83-59-1 - Short title

This chapter may be cited as the "Business Transacted with Producer Controlled Insurer Act."
Laws, 1992, ch. 449, § 1, eff. 7/1/1992.