l9n/ Mississippi

2009 Regular Session

Senate Bill 2419

Insurance companies; revise laws relating to the filing of audited financial reports of insurers.

Became law as Chapter 334, Laws of 2009, signed March 16, 2009, 63 days after it was filed.

What it does

The synopsis the Legislature published with the bill.

AN ACT TO AMEND SECTION 83-5-102, MISSISSIPPI CODE OF 1972, TO REVISE THE DEFINITIONS OF TERMS RELATING TO THE FILING OF AUDITED FINANCIAL REPORTS OF INSURERS; TO AMEND SECTION 83-5-104, MISSISSIPPI CODE OF 1972, TO REVISE THE EXEMPTIONS PROVIDED FOR FINANCIAL REPORTING; TO AMEND SECTION 83-5-105, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR THE EXTENSION OF FILING A MANAGEMENT'S REPORT OF INTERNAL CONTROL OVER FINANCIAL REPORTING; TO AMEND SECTION 83-5-107, MISSISSIPPI CODE OF 1972, TO REVISE THE QUALIFICATIONS OF AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT FOR FILING AUDITED FINANCIAL REPORTS; TO AMEND SECTION 83-5-109, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT SHOULD CONSIDER THE MOST RECENTLY AVAILABLE REPORT IN PLANNING AND PERFORMING THE AUDIT OF THE STATUTORY FINANCIAL STATEMENTS; TO AMEND SECTION 83-5-111, MISSISSIPPI CODE OF 1972, TO REQUIRE AN INSURER TO FURNISH THE COMMISSIONER OF INSURANCE WITH A WRITTEN COMMUNICATION AS TO ANY UNREMEDIATED MATERIAL WEAKNESSES IN ITS INTERNAL CONTROL OVER FINANCIAL REPORTING NOTED DURING THE AUDIT; TO AMEND SECTION 83-5-113, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE ACCOUNTANT RETAIN THE AUDIT WORK PAPERS AND COMMUNICATIONS NO LONGER THAN 7 YEARS FROM THE DATE OF THE AUDIT REPORT; TO REQUIRE THE FORMATION OF AUDIT COMMITTEES AND TO PROVIDE FOR THEIR DUTIES AND RESPONSIBILITIES; TO REQUIRE A MANAGEMENT'S REPORT OF INTERNAL CONTROL OVER FINANCIAL REPORTING; TO PROVIDE SEPARATE PROVISIONS RELATING TO FINANCIAL REPORTING BY CANADIAN AND BRITISH INSURERS; AND FOR RELATED PURPOSES.

Sponsors

Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.

In the Senate

Its course

January 12 to March 16, 2009, on one scale. In the top row each mark is a day something happened; taller marks are busier days.

Each committee stop sits inside its chamber.

Every action12 actions on 10 days

In the SenateJan 12 to Feb 524 days

InsuranceJan 12 to Jan 2210 days

In the House of RepresentativesFeb 5 to Mar 528 days

InsuranceFeb 9 to Feb 2516 days

With the GovernorMar 5 to Mar 1611 days

Text

Each version as the Legislature printed it.

l9n doesn't hold this bill's text yet.

What happened

In l9n's words, one line for each step. Every action as the Legislature published it is below.

In the Senate Jan 12 – Feb 5

  1. Jan 12Referred to the Senate committee on Insurance
  2. Jan 22Reported from committee in the Senate: title sufficient, do pass as a committee substitute
  3. Feb 5Committee substitute adopted in the Senate
  4. Passed the Senate

In the House of Representatives Feb 6 – Mar 5

  1. Feb 6Sent to the House
  2. Feb 9Referred to the House committee on Insurance
  3. Feb 25Reported from committee in the House: title sufficient, do pass
  4. Mar 5Passed the House

To the Governor Mar 6 – Mar 16

  1. Mar 6Returned to the Senate for enrolling
  2. Mar 10Enrolled bill signed in the Senate
  3. Enrolled bill signed in the House
  4. Mar 16Approved by the Governor
All 12 actions, as published
  1. Jan 12Referred To InsuranceSenate
  2. Jan 22Title Suff Do Pass Comm SubSenate
  3. Feb 5Committee Substitute AdoptedSenate
  4. Feb 5PassedSenate
  5. Feb 6Transmitted To HouseSenate
  6. Feb 9Referred To InsuranceHouse of Representatives
  7. Feb 25Title Suff Do PassHouse of Representatives
  8. Mar 5PassedHouse of Representatives
  9. Mar 6Transmitted To SenateHouse of Representatives
  10. Mar 10Enrolled Bill SignedSenate
  11. Mar 10Enrolled Bill SignedHouse of Representatives
  12. Mar 16Approved by GovernorGovernor