House Bill 534

AN ACT TO AMEND SECTION 83-5-205, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE COMMISSIONER OF INSURANCE TO CONDUCT FINANCIAL AND MARKET ANALYSIS REVIEW OF ALL INSURERS AUTHORIZED TO DO BUSINESS IN THIS STATE; TO AMEND SECTION 83-5-209, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR THE CONFIDENTIALITY OF ANCILLARY INFORMATION RECEIVED BY THE COMMISSIONER OF INSURANCE DURING AN EXAMINATION, FINANCIAL REVIEW AND MARKET ANALYSIS REVIEW; TO AMEND SECTIONS 83-5-401 THROUGH 83-5-405, 83-5-417 AND 83-5-427, MISSISSIPPI CODE OF 1972, TO INCLUDE HEALTH ORGANIZATION INSURERS UNDER THE RISK BASED CAPITAL LAWS; TO AMEND SECTION 83-6-1, MISSISSIPPI CODE OF 1972, TO DEFINE THE TERM "ENTERPRISE RISK" AS USED IN THE INSURANCE HOLDING COMPANY REGISTRATION ACT; TO AMEND SECTION 83-6-5, MISSISSIPPI CODE OF 1972, TO REVISE THE FORM AND CONTENTS OF THE REGISTRATION STATEMENT FILED WITH THE COMMISSIONER OF INSURANCE; TO AMEND SECTION 83-6-17, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT A DISCLAIMER OF AFFILIATION SHALL BE DEEMED TO HAVE BEEN GRANTED UNLESS THE COMMISSIONER NOTIFIES THE FILING PARTY THE DISCLAIMER IS DISALLOWED; TO AMEND SECTION 83-6-21, MISSISSIPPI CODE OF 1972, TO REVISE THE NOTICE REQUIREMENTS TO THE COMMISSIONER OF INSURANCE OF CERTAIN INTENDED TRANSACTIONS WITHIN THE HOLDING COMPANY SYSTEM; TO AMEND SECTION 83-6-24, MISSISSIPPI CODE OF 1972, TO REVISE THE FILING REQUIREMENTS OF PERSONS SEEKING TO DIVEST OR ACQUIRE A CONTROLLING INTEREST IN A DOMESTIC INSURER; TO CREATE NEW SECTION 83-6-26, MISSISSIPPI CODE OF 1972, TO PROVIDE CERTAIN MANAGEMENT REQUIREMENTS OF DOMESTIC INSURERS SUBJECT TO REGISTRATION; TO AMEND SECTION 83-6-27, MISSISSIPPI CODE OF 1972, TO MAKE A TECHNICAL CORRECTION TO REFERENCE THE CHAPTER OF LAWS; TO AMEND SECTION 83-6-29, MISSISSIPPI CODE OF 1972, TO REVISE THE CONFIDENTIAL TREATMENT OF DOCUMENTS, MATERIALS OR OTHER INFORMATION IN THE POSSESSION OR CONTROL OF THE DEPARTMENT OF INSURANCE THAT ARE OBTAINED BY OR DISCLOSED TO THE COMMISSIONER OR ANY OTHER PERSON DURING CERTAIN EXAMINATIONS OR INVESTIGATIONS; AND FOR RELATED PURPOSES.

In the House of Representatives

• Gary Chism

  Sponsor

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

In the House of Representatives Jan 21 – Jan 24

1. Jan 21Referred to the House committee on Insurance
2. Jan 22Reported from committee in the House: title sufficient, do pass as a committee substitute
3. Jan 24Committee substitute adopted in the House
4. Passed the House

In the Senate Jan 24 – Mar 7

1. Jan 24Motion in the House to reconsider entered (Brown (66th), Chism and Buck (5th))
2. Jan 28Motion in the House to reconsider tabled
3. Jan 29Sent to the Senate
4. Feb 13Referred to the Senate committee on Insurance
5. Feb 27Reported from committee in the Senate: title sufficient, do pass
6. Mar 7Passed the Senate

To the Governor Mar 8 – Mar 20

1. Mar 8Returned to the House for enrolling
2. Mar 14Enrolled bill signed in the Senate
3. Enrolled bill signed in the House
4. Mar 20Approved by the Governor