reglab/statecodes huggingface dataset:
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-41 - Insurance business practices regulated; cease and desist orders and modifications thereof; administrative fines; funding of agency expenses; deposit of monies into State General Fund

(1)
If, after such hearing, the commissioner shall determine that the method of competition or the act or practice in question is defined in Section
83-5-35
, and that the person complained of has engaged in such method of competition, act or practice in violation of Sections
83-5-29
through
83-5-51
, he shall reduce his findings to writing and shall issue and cause to be served upon the person charged with the violation an order requiring such person to cease and desist from engaging in such method of competition, act or practice. In addition to, or in lieu of, the cease and desist order, the commissioner may, after such hearing, impose an administrative fine not to exceed Five Thousand Dollars ($5,000.00) per violation, which shall be deposited into the special fund in the State Treasury designated as the "Insurance Department Fund."
(2)
Until the expiration of the time allowed under Section
83-5-43(1)
for filing a petition for review (by appeal), if no such petition has been duly filed within such time or, if the petition for review has been filed within such time, then until the transcript of the record in the proceeding has been filed in the circuit court, as hereinafter provided, the commissioner may at any time, upon such notice and in such manner as he shall deem proper, modify or set aside in whole or in part any order issued by him under this section.
(3)
After the expiration of the time allowed for filing such a petition for review, if no such petition has been duly filed within such time, the commissioner may, at any time after notice and opportunity for hearing, reopen and alter, modify, or set aside, in whole or in part, any order issued by him under this section whenever in his opinion conditions of fact or of law have so changed as to require such action, or if the public interest shall so require.
(4)
From and after July 1, 2016, the expenses of this agency shall be defrayed by appropriation from the State General Fund and all user charges and fees authorized under this section shall be deposited into the State General Fund as authorized by law.
(5)
From and after July 1, 2016, no state agency shall charge another state agency a fee, assessment, rent or other charge for services or resources received by authority of this section.
Codes, 1942, § 5649-07; Laws, 1956, ch. 329, § 7; Laws, 1997, ch. 410, § 4, eff. 7/1/1997.
Amended by Laws, 2016, ch. 459, SB 2362, 22, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-47 - Insurance business practices regulated; judicial review by intervenor

If the report of the commissioner does not charge a violation of Sections
83-5-29
through
83-5-51
, then any intervenor in the proceedings may, within ten (10) days after the service of such report, cause a notice of appeal to be filed in the Circuit Court of Hinds County for a review of such report. Upon such review, the court shall have authority to issue appropriate orders and decrees in connection therewith, including, if the court finds that it is to the interest of the public, orders enjoining and restraining the continuance of any method of competition, act, or practice which it finds, notwithstanding such report of the commissioner, constitutes a violation of the cited sections.
Codes, 1942, § 5649-10; Laws, 1956, ch. 329, § 10.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-49 - Insurance business practices regulated; penalty for violation of cease and desist order

Any person who willfully violates a cease and desist order of the commissioner under Section
83-5-41
, 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 commissioner for the use of the public schools of the county or counties in which the act or acts complained of occurred, a sum to be determined by the commissioner not to exceed One Thousand Dollars ($1,000.00) for each violation, which if not paid may be recovered in a civil action instituted in the name of the commissioner in a court of competent jurisdiction 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 a court of competent jurisdiction in Hinds County.
In addition to or in lieu of the penalty set out above, the commissioner may revoke or suspend the license of such person to transact the business of insurance in this state, but from any order of the commissioner revoking or suspending such license, there shall be a right of appeal therefrom to the circuit court of the First Judicial District of Hinds County in the manner provided by law.
Codes, 1942, § 5649-11; Laws, 1956, ch. 329, § 11.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-51 - Insurance business practices regulated; provisions cumulative

Sections
83-5-29
through
83-5-51
are hereby declared to be cumulative and supplemental to all other valid statutes relating to insurance companies, agents, solicitors, and brokers, and do not repeal or amend any existing statutes.
Codes, 1942, § 5649-12; Laws, 1956, ch. 329, § 12.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-53 - Blank forms furnished

It shall be the duty of the commissioner to make available upon request, at the expense of the requesting insurance company, blank forms for statements, which forms may be by him from time to time changed, as may be requisite to secure full information as to the standing, condition, and such other information desired of companies regulated by his department.
Codes, 1906, §§ 2618, 2651; Hemingway's 1917, § 5081; 1930, §§ 5211, 5219; 1942, §§ 5725, 5733; Laws, 2005, ch. 386, § 1, eff. 7/1/2005.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-55 - Annual and quarterly statements to be filed

(1)
Every insurance company shall file with the Commissioner of Insurance, on or before the first day of March of each year, a statement showing the business standing and financial condition of the company and sworn to by the president or vice president and secretary or treasurer or chief managing agent or officer of such company. The annual statement to be filed shall be in accordance with the NAIC Quarterly and Annual Statement Blank and Instructions thereto and the NAIC Accounting Practices and Procedures Manual.
(2)
Every insurance company shall file with the Commissioner of Insurance a quarterly statement showing the business standing and financial condition of the company for that quarter and sworn to by the president or vice president and secretary or treasurer or chief managing agent or officer of such company. Each quarterly statement shall be filed within forty-five (45) days of the last day of the quarter. The quarterly statement to be filed shall be in accordance with the NAIC Quarterly and Annual Statement Blank and Instructions thereto and the NAIC Accounting Practices and Procedures Manual. However, the Commissioner of Insurance may grant an exemption to any domestic company transacting business in Mississippi only. No exemption shall be granted to any domestic company transacting business across state lines.
Codes, 1906, § 2619; Hemingway's 1917, §§ 5082, 5083; 1930, §§ 5212, 5213; 1942, §§ 5726, 5727; Laws, 1916, ch. 202; Laws, 1991, ch. 550, § 1; Laws, 2001, ch. 433, § 1; Laws, 2005, ch. 386, § 2; Laws, 2007, ch. 369, § 1, eff. 7/1/2007.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-57 - Reinsurance returns made annually

Every fire insurance company now or hereafter admitted shall annually, and at such other times as the said commissioner may require, in addition to all the returns now, by law, required of it or its agents or managers, make a return to the insurance commissioner in such form and detail as may be prescribed by him of all reinsurance contracted for or affected by it, directly or indirectly, upon property located in Mississippi, such return to be sworn to by its president and secretary, if a company of any other state of the United States, and if a company of a foreign country by its president and secretary or by officers corresponding thereto, as to reinsurance as aforesaid contracted for or effected through the foreign office, and by the United States manager as to such reinsurance effected by the United States branch. If any company, domestic or foreign, shall directly or indirectly reinsure any risk taken by it on any property located in Mississippi in any company not duly authorized to transact business herein, except as hereinbefore provided, or if it shall refuse or neglect to make the returns required by this section, the said commissioner shall revoke its authority to transact business in this state.
Codes, 1906, § 2608; Hemingway's 1917, § 5071; 1930, § 5210; 1942, § 5724.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-59 - Statements examined and abstracts published

It shall be the duty of the commissioner to receive and thoroughly examine each annual statement required by this chapter and, if made in compliance with the law of Mississippi, to publish at the expense of the company an abstract of the same in one of the newspapers of the state, to be selected by the company. Such company shall, within thirty (30) days after the filing of such statement, notify the commissioner in writing of the name of the paper selected by it; otherwise, the paper shall be selected by the commissioner.
Codes, 1906, § 2620; Hemingway's 1917, § 5084; 1930, § 5214; 1942, § 5728; Laws, 1960, ch. 369, § 1.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-61 - Certain premiums declared and taxed

All corporations, firms, persons, or individuals obtaining insurance on property situate in this state owned by corporations, firms, or individuals resident therein, against fire, lightning, or tornado from companies, associations, firms, or corporations not authorized to transact business in this state, shall file with the insurance commissioner of the state a sworn statement or declaration, setting forth the name of the company, number of policy, amount of insurance rate, premium, and description, shall be required to pay to the insurance commissioner a tax thereon of three percent (3%) of the premiums paid on said policies, and shall further pay to said commissioner a fee of One Dollar ($1.00) on each policy for filing a record of the said statement or declaration, which record shall be kept for the private information of the insurance department and shall not be a public record.
Codes, 1906, § 2625; Hemingway's 1917, § 5090; 1930, § 5217; 1942, § 5731; Laws, 1912, ch. 226.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-63 - Penalty for failure to declare

Any corporation, firm, person, or individual, resident in this state, who shall obtain or have possession of policies of insurance against loss by fire, lightning, or tornado on property situate in this state issued by companies, associations, firms, corporations, or individuals not authorized to transact the business of insurance in this state without complying with the provisions of Section
83-5-61
shall be guilty of a misdemeanor and, upon conviction thereof, shall be subject to a fine of not less than Two Hundred Fifty Dollars ($250.00) nor more than One Thousand Dollars ($1,000.00). Nothing herein shall prevent the placing of insurance in unauthorized companies as provided elsewhere by this chapter.
Codes, Hemingway's 1917, § 5091; 1930, § 5218; 1942, § 5732; Laws, 1912, ch. 226.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-65 - Books exhibited

It shall be the duty of any person having in his possession or control any books, accounts, or papers of any person licensed under this chapter to exhibit the same to the commissioner on demand. On refusing to do so or knowingly or wilfully making any false statement in regard to the same, such person shall be deemed guilty of a misdemeanor and, upon conviction thereof, shall be fined or imprisoned, or both, at the discretion of the court.
Codes, 1906, § 2622; Hemingway's 1917, § 5086; 1930, § 5215; 1942, § 5729.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-67 - License revoked if statement untrue

If the commissioner shall become satisfied at any time that any statements made by any person licensed under this chapter shall be untrue, or in case the general agent should fail or refuse to obey the provisions of this chapter, the commissioner shall have power to revoke and cancel such license.
Codes, 1906, § 2621; Hemingway's 1917, § 5085; 1930, § 5220; 1942, § 5734.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-69 - Penalty for failure to file statements and making false return; funding of agency expenses; deposit of monies into State General Fund

Any company that neglects to make and file its quarterly and annual statement within the time provided in this chapter shall pay to the Commissioner of Insurance One Hundred Dollars ($100.00) for each day's neglect, which penalty shall be deposited into the special fund in the State Treasury designated as the "Insurance Department Fund"; and upon notice by the commissioner to that effect, its authority to do new business shall cease while such default continues. For willfully making a false annual, quarterly or other statement it is required by law to make, any insurance company, association or order, and the person making oath to or subscribing the same, shall severally be guilty of a misdemeanor; and, upon conviction, be punished by a fine of not less than Five Hundred Dollars ($500.00) nor more than One Thousand Dollars ($1,000.00). Any person making oath to such false statement shall be guilty of the crime of perjury.
From and after July 1, 2016, the expenses of this agency shall be defrayed by appropriation from the State General Fund and all user charges and fees authorized under this section shall be deposited into the State General Fund as authorized by law.
From and after July 1, 2016, no state agency shall charge another state agency a fee, assessment, rent or other charge for services or resources received by authority of this section.
Codes, 1906, § 2646; Hemingway's 1917, § 5112; 1930, § 5221; 1942, § 5735; Laws, 2002, ch. 389, § 1; Laws, 2005, ch. 386, § 3, eff. 7/1/2005.
Amended by Laws, 2016, ch. 459, SB 2362, 24, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-71 - License or certificate effective until suspended, revoked, surrendered or forfeited

(1)
Notwithstanding any other provision of law, this section establishes the exclusive authority with respect to the duration of a privilege license or certificate of authority for an insurer subject to this chapter and licensed or holding a certificate of authority, or both, to transact business in this state under this Title 83.
(2)
An insurer must make an initial application in a form prescribed by the commissioner and, upon being granted approval to transact business in this state, a license or certificate of authority, or both, shall be issued and remain in effect until suspended, revoked, surrendered or forfeited.
(3)
Before being issued an initial license or certificate of authority, an insurer must pay the required privilege tax fee required by Section
27-15-83
, along with other required fees, and must continue to pay the aforementioned fees on an annual basis on or before March 1 of each year in order to keep the license or certificate of authority in good standing.
(4)
Amendments to a license or certificate of authority will require payment by the insurer of the applicable fees.
(5)
Insurers who were issued a license or certificate of authority, or both, before the effective date of this law will receive an amended license or certificate of authority, or both.
Codes, 1892, § 2343; 1906, § 2624; Hemingway's 1917, § 5089; 1930, § 5216; 1942, § 5730; Laws, 1995, ch. 315, § 1, eff. 7/1/1995.
Amended by Laws, 2022, ch. 473, SB 2669,§ 3, eff. 7/1/2022.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-72 - Life, health and accident insurance companies and health maintenance organizations to contribute to Insurance Department Fund; funding of agency expenses; deposit of monies into State General Fund

All life, health and accident insurance companies and health maintenance organizations doing business in this state shall contribute annually, at such times as the Insurance Commissioner shall determine, in proportion to their gross premiums collected within the State of Mississippi during the preceding year, to a special fund in the State Treasury to be known as the "Insurance Department Fund" to be expended by the Insurance Commissioner in the payment of the expenses of the Department of Insurance as the commissioner may deem necessary. The commissioner is hereby authorized to employ such actuarial and other assistance as shall be necessary to carry out the duties of the department; and the employees shall be under the authority and direction of the Insurance Commissioner. The amount to be contributed annually to the fund shall be fixed each year by the Insurance Commissioner at a percentage of the gross premiums so collected during the preceding year. However, a minimum assessment of One Hundred Dollars ($100.00) shall be charged each licensed life, health and accident insurance company regardless of the gross premium amount collected during the preceding year.
The total contributions collected for the Insurance Department Fund shall not exceed the sum of Seven Hundred Fifty Thousand Dollars ($750,000.00) in each fiscal year.
From and after July 1, 2016, the expenses of this agency shall be defrayed by appropriation from the State General Fund and all user charges and fees authorized under this section shall be deposited into the State General Fund as authorized by law.
From and after July 1, 2016, no state agency shall charge another state agency a fee, assessment, rent or other charge for services or resources received by authority of this section.
Laws, 1990, ch. 557, § 4; Laws, 1991, ch. 430 § 4; Laws, 1998, ch. 451, § 2, eff. 7/1/1998.
Amended by Laws, 2016, ch. 459, SB 2362, 25, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-73 - Fees for commissioner; funding of agency expenses; deposit of monies into State General Fund

The commissioner shall collect and pay into the special fund in the State Treasury designated as the "Insurance Department Fund" the following fees: for certificate of authority to each general or district agent or manager, Twenty-five Dollars ($25.00); for filing and processing an agent's certificate of authority, Twenty-five Dollars ($25.00); for filing and examining statement preliminary to admission, One Thousand Dollars ($1,000.00); for filing and processing a Form A application, Two Thousand Dollars ($2,000.00); for filing and auditing annual statement, Five Hundred Dollars ($500.00); for filing any other paper required by law, Fifty Dollars ($50.00); for continuing education courses or programs filed by the providers for approval, Fifty Dollars ($50.00); for each certification company licensed status, Forty Dollars ($40.00); for each seal when required, Twenty Dollars ($20.00); for service of process on the commissioner as attorney, Twenty-five Dollars ($25.00).
From and after July 1, 2016, the expenses of this agency shall be defrayed by appropriation from the State General Fund and all user charges and fees authorized under this section shall be deposited into the State General Fund as authorized by law.
From and after July 1, 2016, no state agency shall charge another state agency a fee, assessment, rent or other charge for services or resources received by authority of this section.
Codes, 1906, § 2630; Hemingway's 1917, § 5096; 1930, § 5222; 1942, § 5736; Laws, 1977, ch. 329, § 2; ch. 398, § 2; Laws, 1985, ch. 433, § 9; Laws, 1988, ch. 526, § 1; Laws, 1991, ch. 428 § 1; Laws, 1994, ch. 613, § 1; Laws, 2008, ch. 440, § 1, eff. 4/7/2008.
Amended by Laws, 2016, ch. 459, SB 2362, 26, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-75 - Fees of fraternal orders

For all larger fraternal orders, as defined in Section
83-30-1
, the commissioner shall collect charges as provided in Section
83-5-73
, as well as all other fees and charges due and payable by any company, association, order or individual in his department. If a fraternal order would not be considered a larger fraternal order under Section
83-30-1
, the commissioner shall collect the following charges: for filing charter, etc., of fraternal orders doing an insurance business, preliminary to admission, Twenty-five Dollars ($25.00); for filing and auditing annual statement, Ten Dollars ($10.00); all other fees and charges due and payable by any company, association, order or individual in his department.
Codes, 1906, § 2631; Hemingway's 1917, § 5097; 1930, § 5223; 1942, § 5737; Laws, 2008, ch. 440, § 2, eff. 4/7/2008.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-77 - Publication fees; funding of agency expenses; deposit of monies into State General Fund

For publication of annual statement, there shall be a fee of Eighty Dollars ($80.00), Forty Dollars ($40.00) of which shall be paid to the publishers and Forty Dollars ($40.00) paid to the special fund in the State Treasury known as the "Insurance Department Fund". The commissioner shall receive for copy of any record or paper in his office, Fifty Cents (50¢) per page, and Twenty Dollars ($20.00) for certifying same, or any fact or data from the records of the office.
From and after July 1, 2016, the expenses of this agency shall be defrayed by appropriation from the State General Fund and all user charges and fees authorized under this section shall be deposited into the State General Fund as authorized by law.
From and after July 1, 2016, no state agency shall charge another state agency a fee, assessment, rent or other charge for services or resources received by authority of this section.
Codes, 1906, § 2632; Hemingway's 1917, § 5098; 1930, § 5224; 1942, § 5738; Laws, 1948, ch. 348, § 1; Laws, 1960, ch. 369, § 2; Laws, 1977, ch. 396; Laws, 1988, ch. 526, § 2; Laws, 1997, ch. 324, § 1; Laws, 2008, ch. 440, § 3, eff. 4/7/2008.
Amended by Laws, 2016, ch. 459, SB 2362, 27, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-79 - Investigation of complaint by citizens

Complaint being filed by any citizen of this state that any company authorized to do business in this state has violated any of the provisions of the insurance laws of Mississippi, the commissioner shall diligently investigate the matter and, if necessary, examine by himself or his accredited representatives at the head office located in the United States of America such officers or agents of such company as he may deem proper; also all books, records, and papers of the same, and also the officers thereof under oath, as to such alleged violation or violations. Before making any examinations which would require the commissioner to go to a foreign state, he shall require the party or parties making complaint to file with him a good and sufficient bond to secure any expense or costs that may be necessary in making such examination. In the event that the insurance company be found not guilty of a violation of said insurance laws by the commissioner, the said bond shall be responsible for all expenses incurred by reason of such investigation; but should such company be found guilty of a violation of such laws, then said company shall be responsible for the expense thereof.
Codes, 1906, § 2655; Hemingway's 1917, § 5121; 1930, § 5201; 1942, § 5715.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-81 - Suit for payment of expense if refused

If any company shall fail or refuse to pay all legal and reasonable expenses of examination upon the presentation of a bill therefor by the commissioner, then he shall at once institute proceedings against the said company or other insurer for recovery of the same, and for this purpose may attach any of the property of the said company to be found within the jurisdiction of the court before which such proceedings are heard.
Codes, 1906, § 2656; Hemingway's 1917, § 5122; 1930, § 5202; 1942, § 5716.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-83 - Refusal to comply; license revoked

If any company, corporation, or association while holding a license to transact the business of insurance in Mississippi shall fail or refuse to comply with any of the provisions or requirements of the insurance laws of this state, it shall be the duty of the commissioner of insurance to notify such company, corporation, or association by registered letter properly addressed and mailed, or by some other form of actual notice in writing delivered to an executive officer of such company, corporation, or association, of his intention to revoke the license of such company, corporation, or association to transact business in this state at the expiration of thirty (30) days after mailing such registered letter, or a date upon which such actual notice is served. If such provisions or requirements are not fully complied with before the expiration of said thirty (30) days, it shall be the duty of the commissioner of insurance to revoke the license of such company, corporation, or association; and in case of such revocation, such company, corporation, or association shall not be entitled to receive another license for a period of one (1) year, and until it shall have fully complied with all such provisions and requirements of said insurance laws.
Codes, Hemingway's 1917, § 5083; 1930, § 5213; 1942, § 5727; Laws, 1916, ch. 202.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-85 - General penalty

For violation of any provisions of the insurance laws of Mississippi, the penalty whereof is not specially provided, the offender shall be guilty of a misdemeanor and, on conviction, shall be punished by a fine of not more than Five Thousand Dollars ($5,000.00). For expenses in seeking out, detecting, and punishing violations of such laws, the commissioner may assess an additional penalty to be paid by the offender as restitution in an amount to cover such expenses as may be approved by the court.
The penalties authorized by this section are cumulative and supplemental to any other penalty, fine or other sanction, and shall not be a bar to any other civil cause of action or criminal prosecution.
Codes, 1906, § 2649; Hemingway's 1917, § 5115; 1930, § 5301; 1942, § 5815; Laws, 1987, ch. 422, § 26, eff. 1/1/1988.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-87 - Contents of residential property insurance policy

An insurance company shall not issue a residential property insurance policy that fails to include both the causes of loss of fire and extended coverages unless such policy is approved by the commissioner.
Laws, 1987, ch. 422, § 28, eff. 1/1/1988.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-89 - Reporting arson incidents; rules and regulations

(1)
The Commissioner of Insurance shall establish a program for the collection of information relating to arson incidents occurring in the state. The program shall be administered through an appropriate bureau within the Department of Insurance.
(2)
The fire department, sheriff, chief of police or mayor, an agency of the state or political subdivision shall submit any information required on the Uniform Arson Incident Report, established by the Commissioner of Insurance, to the Commissioner of Insurance when an arson incident occurs in their respective jurisdictions.
(3)
The Commissioner of Insurance shall promulgate rules to implement the program and may obtain any assistance available from the United States Department of Justice in the accomplishment of this section.
Laws, 1990, ch. 444, § 1, eff. 7/1/1990.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-91 - Health insurance for person called to serve on active military duty by executive order of the President of the United States

The Commissioner of Insurance shall issue, within thirty (30) days of March 20, 1991, a directive to every insurance carrier authorized to write health insurance policies in this state to require the following:
(a)
Every insurance carrier that is providing health insurance coverage to a person at the time such person is called to serve on active military duty by Executive Order of the President of the United States, upon such person's becoming deactivated from active duty, shall resume providing the same health insurance coverage, including any preexisting condition which was covered, to that person and his or her dependents as the carrier was providing before the person was called to active military duty as provided in paragraphs (b) and (c) herein;
(b)
In the case of group coverage, an employee covered under paragraph (a) of this section shall be entitled to the same coverage as the other employees of his or her group that is in effect at the time of his or her deactivation. If there is no longer a group policy in effect upon his or her deactivation, such employee shall be entitled to receive any nongroup coverage that is offered in the nongroup market by that carrier;
(c)
In the case of nongroup coverage, a person covered under paragraph (a) of this section shall be entitled to receive the same coverage he or she had before serving on active military duty or if such coverage is no longer available, any other coverage offered in the nongroup market by that carrier; and
(d)
Every insurance carrier shall resume such coverage as required in this section regardless of any condition developed by the person and his or her dependents during the time the person was serving on active military duty.
Laws, 1991, ch. 404, § 1, eff. 3/20/1991.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 1 - GENERAL PROVISIONS (§§ 83-5-1 — 83-5-95) › Section 83-5-93 - Proposing party to provide impact report on legislation to enact mandated health care coverage

Before the Legislature's consideration of any bill that mandates health insurance coverage for specific health services, for specific diseases or for certain providers of health care services as part of any individual or group health insurance policy, the person or organization that seeks sponsorship of such proposal shall submit to the legislative committees to which the proposal is assigned an impact report that assesses the social and financial effects and the medical efficacy of the proposed mandated coverage. For purposes of Sections
83-5-93
and
83-5-95
, mandated health insurance coverage shall include any legislative proposal which either mandates the inclusion of certain benefits, coverages or reimbursements for covered health care services in accident and health insurance policies or provides for the mandatory offering of such benefits, coverages or reimbursements in accident and health insurance policies.
Laws, 1993, ch. 373, § 1, eff. 3/15/1993.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 2 - AUDIT OF FINANCIAL STATEMENTS OF INSURERS (§§ 83-5-101 — 83-5-125) › Section 83-5-101 - Audited financial report

All insurers shall have an annual audit by an independent certified public accountant and shall file an audited financial report as a supplement to the annual statement on or before June 1 for the year ended December 31 immediately preceding. The Commissioner of Insurance may require an insurer to file an audited financial report earlier than June 1 with ninety (90) days' advance notice to the insurer.
Laws, 1991, ch. 550, § 2, eff. 7/1/1991.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 2 - AUDIT OF FINANCIAL STATEMENTS OF INSURERS (§§ 83-5-101 — 83-5-125) › Section 83-5-103 - Content of annual audited financial report

The annual audited financial report shall report the financial position of the insurer as of the end of the most recent calendar year and the results of its operations, cash flows and changes in capital and surplus for the year then ended in conformity with statutory accounting practices prescribed, or otherwise permitted, by the Department of Insurance of the state of domicile.
The annual audited financial report shall include the following:
(a)
Report of independent certified public accountant.
(b)
Balance sheet reporting admitted assets, liabilities, capital and surplus.
(c)
Statement of operations.
(d)
Statement of cash flows.
(e)
Statement of changes in capital and surplus.
(f)
Notes to financial statements. These notes shall be those required by the appropriate NAIC Annual Statement Instructions and the NAIC Accounting Practices and Procedures Manual. The notes shall include a reconciliation of differences, if any, between the audited statutory financial statements and the annual statement filed pursuant to Section
83-5-55
with a written description of the nature of these differences.
(g)
The financial statements included in the audited financial report shall be prepared in a form and using language and groupings substantially the same as the relevant sections of the annual statement of the insurer filed with the commissioner, and the financial statements shall be comparative, presenting the amounts as of December 31 of the current year and the amounts as of the immediately preceding December 31. However, in the first year in which an insurer is required to file an audited financial report, the comparative data may be omitted.
Laws, 1991, ch. 550, § 4; Laws, 2007, ch. 369, § 3, eff. 7/1/2007.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 2 - AUDIT OF FINANCIAL STATEMENTS OF INSURERS (§§ 83-5-101 — 83-5-125) › Section 83-5-104 - Exemptions

Every insurer shall be subject to Sections
83-5-101
through
83-5-113
. Insurers having direct premiums written of less than One Million Dollars ($1,000,000.00) in any calendar year and less than one thousand (1,000) policyholders or certificate holders of directly written policies nationwide at the end of such calendar year shall be exempt from Sections
83-5-101
through
83-5-113
for such year unless the commissioner makes a specific finding that compliance is necessary for the commissioner to carry out statutory responsibilities, except that insurers having assumed premiums pursuant to contracts and/or treaties of reinsurance of One Million Dollars ($1,000,000.00) or more will not be so exempt.
Upon written application of any insurer, the commissioner may grant an exemption from compliance with Sections
83-5-101
through
83-5-113
if the commissioner finds, upon review of the application, that compliance with Sections
83-5-101
through
83-5-113
would constitute a financial or organizational hardship upon the insurer. An exemption may be granted at any time and from time to time for a specified period or periods. Within ten (10) days from a denial of an insurer's written request for an exemption from Sections
83-5-101
through
83-5-113
, such insurer may request in writing a hearing on its application for an exemption. Such hearing shall be held in accordance with the rules and regulations of the Department of Insurance pertaining to administrative hearing procedures.
Laws, 1991, ch. 550, § 5; Laws, 2009, ch. 334, § 2, eff. 1/1/2010.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 2 - AUDIT OF FINANCIAL STATEMENTS OF INSURERS (§§ 83-5-101 — 83-5-125) › Section 83-5-105 - Extensions

Extensions of the June 1 filing date may be granted by the commissioner for thirty-day periods upon showing by the insurer and its independent certified public accountant the reasons for requesting such extension and determination by the commissioner of good cause for an extension. The request for extension must be submitted in writing not less than ten (10) days prior to the due date in sufficient detail to permit the commissioner to make an informed decision with respect to the requested extension.
If an extension is granted, a similar extension of thirty (30) days is granted to the filing of Management's Report of Internal Control over Financial Reporting.
Laws, 1991, ch. 550, § 6; Laws, 2009, ch. 334, § 3, eff. 1/1/2010.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 2 - AUDIT OF FINANCIAL STATEMENTS OF INSURERS (§§ 83-5-101 — 83-5-125) › Section 83-5-106 - Designation of independent certified public accountants

Each insurer required to file an annual audited financial report must, within sixty (60) days after becoming subject to such requirement, register with the commissioner in writing the name and address of the independent certified public accountant or accounting firm (generally referred to here as the "accountant") retained to conduct the annual audit set forth in Section
83-5-101
. Insurers not previously retaining an independent certified public accountant shall register the name and address of their retained certified public accountant not less than six (6) months before the date when the first audited financial report is to be filed.
The insurer shall obtain a letter from such accountant, and file a copy with the commissioner stating that the accountant is aware of the provisions of the insurance code and the rules and regulations of the Department of Insurance that relate to accounting and financial matters and affirming that he will express his opinion on the financial statements in terms of their conformity to the statutory accounting practices prescribed or otherwise permitted by the department, specifying such exceptions as he may believe appropriate.
If an accountant who was the accountant for the immediately preceding filed audited financial report is dismissed or resigns, the insurer shall within five (5) business days notify the Department of Insurance of this event. The insurer shall also furnish the commissioner with a separate letter within ten (10) business days of the above notification stating whether in the twenty-four (24) months preceding such event there were any disagreements with the former accountant on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure; which disagreements, if not resolved to the satisfaction of the former accountant, would have caused him to make reference to the subject matter of the disagreement in connection with his opinion. The disagreements required to be reported in response to this section include both those resolved to the former accountant's satisfaction and those not resolved to the former accountant's satisfaction. Disagreements contemplated by this section are those that occur at the decision-making level, i.e., between personnel of the insurer responsible for presentation of its financial statements and personnel of the accounting firm responsible for rendering its report. The insurer shall also in writing request such former accountant to furnish a letter addressed to the insurer stating whether the accountant agrees with the statements contained in the insurer's letter and, if not, stating the reasons for which he does not agree; and the insurer shall furnish such responsive letter from the former accountant to the commissioner together with its own.
Laws, 1991, ch. 550, § 7, eff. 7/1/1991.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 2 - AUDIT OF FINANCIAL STATEMENTS OF INSURERS (§§ 83-5-101 — 83-5-125) › Section 83-5-108 - Consolidated or combined audits

An insurer may make written application to the commissioner for approval to file audited consolidated or combined financial statements in lieu of separate annual audited financial statements if the insurer is part of a group of insurance companies which utilizes a pooling or one hundred percent (100%) reinsurance agreement that affects the solvency and integrity of the insurer's reserves and such insurer cedes all of its direct and assumed business to the pool. In such cases, a columnar consolidating or combining work sheet shall be filed with the report, as follows:
(a)
Amounts shown on the consolidated or combined audited financial report shall be shown on the work sheet.
(b)
Amounts for each insurer subject to this section shall be stated separately.
(c)
Noninsurance operations may be shown on the work sheet on a combined or individual basis.
(d)
Explanations of consolidating and eliminating entries shall be included.
(e)
A reconciliation shall be included of any differences between the amounts shown in the individual insurer columns of the work sheet and comparable amounts shown on the annual statements of the insurers.
Laws, 1991, ch. 550, § 9, eff. 7/1/1991.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 5 - GENERAL PROVISIONS RELATIVE TO INSURANCE AND INSURANCE COMPANIES (§§ 83-5-1 — 83-5-877) › Article 2 - AUDIT OF FINANCIAL STATEMENTS OF INSURERS (§§ 83-5-101 — 83-5-125) › Section 83-5-109 - Scope of examination and report of independent certified public accountant

Financial statements furnished pursuant to Section
83-5-103
shall be audited by an independent certified public accountant. The audit of the insurer's financial statements shall be conducted in accordance with generally accepted auditing standards. The independent certified public accountant should obtain an understanding of internal control sufficient to plan the audit. To the extent required by generally accepted auditing standards, for those insurers required to file a Management's Report of Internal Control over Financial Reporting pursuant to Section
83-5-123
, the independent certified public accountant should consider (as that term is defined in Statement on Auditing Standards No. 102, "Defining Professional Requirements in Statements on Auditing Standards," or its replacement) the most recently available report in planning and performing the audit of the statutory financial statements. Consideration shall be given to the procedures illustrated in the Financial Condition Examiners Handbook promulgated by the National Association of Insurance Commissioners as the independent certified public accountant deems necessary.
Laws, 1991, ch. 550, § 10; Laws, 2009, ch. 334, § 5, eff. 1/1/2010.