Mississippi Senate Bill 2904 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on February 10 2011 - 100% progression
Action: 2011-02-10 - Died On Calendar
Text: Latest bill text (Introduced) [HTML]

An Act To Amend Section 83-21-17, Mississippi Code Of 1972, To Revise The Eligibility Requirements For Nonadmitted Insurers To Write Business In The State Of Mississippi; To Create New Section 83-21-18, Mississippi Code Of 1972, To Authorize The Commissioner Of Insurance To Enter Into An Agreement With Other States To Establish Procedures For Allocating Premium Taxes; To Amend Section 83-21-19, Mississippi Code Of 1972, To Revise The Licensing Provisions For Resident And Nonresident Surplus Lines Insurance Producers; To Amend Section 83-21-21, Mississippi Code Of 1972, To Provide That Stamping Procedures May Apply To The Reporting, Payment, Collection And Allocation Of Premium Taxes For Nonadmitted Insurance Consistent With Any Agreement, Compact Or Procedures Entered Into By The Commissioner Of Insurance; To Amend Section 83-21-23, Mississippi Code Of 1972, To Provide That, When Placing Nonadmitted Insurance For An Exempt Commercial Purchaser, A Surplus Lines Insurance Producer Is Not Required To Make A Due Diligence Search To Determine Whether The Full Amount Or Type Of Insurance Can Be Obtained From Admitted Insurers; To Amend Sections 83-21-25, 83-21-27 And 83-21-29, Mississippi Code Of 1972, To Make Certain Technical And Nonsubstantive Changes; To Amend Section 83-34-4, Mississippi Code Of 1972, To Provide That Each Insured In This State Who Directly Procures Or Renews Insurance With A Nonadmitted Insurer On Properties, Risks Or Exposures Located In This State, Other Than Insurance Procured Through A Surplus Lines Licensee, Shall Be Subject To The Nonadmitted Policy Fee Which Shall Be Paid Pursuant To The Procedures Provided For Premium Taxes; And For Related Purposes.

Surplus lines insurance; revise law to comply with the federal Nonadmitted and Reinsurance Reform Act.

Sen. Eugene Clarke [R]

Date	Chamber	Action
2011-02-10		Died On Calendar
2011-01-20		Title Suff Do Pass
2011-01-17		Referred To Insurance

Type	Source
Summary	https://billstatus.ls.state.ms.us/2011/pdf/history/SB/SB2904.xml
Text	https://billstatus.ls.state.ms.us/documents/2011/html/SB/2900-2999/SB2904IN.htm