Senate Bill 2801

AN ACT TO AMEND SECTION 83-34-1, MISSISSIPPI CODE OF 1972, TO DEFINE CERTAIN TERMS AS USED IN THE MISSISSIPPI WINDSTORM UNDERWRITING ASSOCIATION LAW; TO AMEND SECTION 83-34-3, MISSISSIPPI CODE OF 1972, IN CONFORMITY; TO AMEND REENACTED SECTION 83-34-4, MISSISSIPPI CODE OF 1972, TO DIVERT A CERTAIN AMOUNT OF FUNDS DERIVED FROM THE NONADMITTED POLICY FEE INTO THE RURAL FIRE TRUCK FUND OR SUPPLEMENTARY RURAL FIRE TRUCK FUND, AND TO EXTEND THE REPEALER ON THE SECTION; TO AMEND SECTION 83-34-5, MISSISSIPPI CODE OF 1972, IN CONFORMITY; TO AMEND SECTION 83-34-7, MISSISSIPPI CODE OF 1972, TO REVISE THE MEMBERSHIP OF THE BOARD OF DIRECTORS OF THE ASSOCIATION; TO AMEND SECTION 83-34-9, MISSISSIPPI CODE OF 1972, IN CONFORMITY; TO AMEND SECTION 83-34-10, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE ASSOCIATION TO LEVY RECOUPABLE AND NONRECOUPABLE ASSESSMENTS UPON THE OCCURRENCE OF CERTAIN EVENTS, TO PROVIDE THAT THE MINIMUM RESERVE SHALL NOT BE CONSIDERED AS FUNDS AVAILABLE TO THE ASSOCIATION IN DETERMINING WHETHER TO LEVY A RECOUPABLE OR NONRECOUPABLE ASSESSMENT, AND TO SET THE MAXIMUM TOTAL OF NONRECOUPABLE ASSESSMENTS; TO AMEND SECTION 83-34-12, MISSISSIPPI CODE OF 1972, IN CONFORMITY; TO AMEND SECTION 83-34-13, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE ASSOCIATION'S PLAN OF OPERATION MAY INCLUDE THE ESTABLISHMENT OF A MINIMUM RESERVE; TO AMEND SECTIONS 83-34-23 AND 83-34-31, MISSISSIPPI CODE OF 1972, IN CONFORMITY; TO AMEND SECTION 83-34-33, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE COMMISSIONER OF INSURANCE TO IMPLEMENT AN EXCESS DEFICIT SURCHARGE FOR COVERED EVENT LOSSES ON ALL PROPERTY AND CASUALTY PREMIUMS; TO AMEND SECTION 83-34-35, MISSISSIPPI CODE OF 1972, IN CONFORMITY; TO REPEAL SECTION 83-34-11, MISSISSIPPI CODE OF 1972, WHICH IMPLEMENTS A SURCHARGE ON ALL PROPERTY AND CASUALTY PREMIUMS FOR THE PURPOSE OF REIMBURSING ASSESSABLE INSURERS WHO PAID A REGULAR ASSESSMENT; AND FOR RELATED PURPOSES.

In the Senate

• Videt Carmichael

  Sponsor

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

In the Senate Jan 21 – Feb 5

1. Jan 21Referred to the Senate committees on Accountability, Efficiency, Transparency and on Insurance
2. Jan 31Reported as a committee substitute from AC to IN in the Senate: title sufficient, do pass
3. Feb 5Died in committee in the Senate