Senate Bill 2002

AN ACT ENTITLED THE "MISSISSIPPI GRAIN PRODUCER INDEMNITY ACT"; TO PROVIDE INDEMNIFICATION FOR GRAIN PRODUCERS IN MISSISSIPPI AGAINST THE FINANCIAL FAILURE OF GRAIN DEALERS AND WAREHOUSES IN ORDER TO IMPROVE THE ECONOMIC STABILITY OF AGRICULTURE; TO PROVIDE DEFINITIONS; TO ESTABLISH THE MISSISSIPPI GRAIN INDEMNITY FUND BOARD TO ADMINISTER THE MISSISSIPPI GRAIN INDEMNITY FUND AND TO PROVIDE FOR ITS MEMBERSHIP, POWERS AND DUTIES; TO ESTABLISH THE MISSISSIPPI GRAIN INDEMNITY FUND IN THE STATE TREASURE AND TO AUTHORIZE ASSESSMENTS AGAINST GRAIN PRODUCERS TO FUND THE PROGRAM; TO PROVIDE FOR A MINIMUM BALANCE IN THE FUND AND FOR THE SUSPENSION OF ASSESSMENTS UNDER CERTAIN CONDITIONS; TO PROVIDE FOR REINSURANCE FOR THE PAYMENT OF CLAIMS; TO PRESCRIBE THE DUTIES OF THE MISSISSIPPI GRAIN INDEMNITY FUND BOARD AND THE MISSISSIPPI DEPARTMENT OF INSURANCE TO ADMINISTER THE PROVISIONS OF THIS ACT; TO PROVIDE FOR THE COMPENSATION OF CLAIMANTS WHO HAVE INCURRED A FINANCIAL LOSS DUE TO A FAILURE OF A GRAIN DEALER OR WAREHOUSEMAN; TO PROVIDE APPLICATION AND PAYMENT PROCEDURES; TO PROVIDE FOR SUBROGATION OF CLAIMS ON BEHALF OF THE FUND; TO AMEND SECTIONS 75-44-29 AND 75-45-305, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT GRAIN WAREHOUSEMAN'S SURETY BOND AND GRAIN DEALER'S SURETY BOND UNDER APPLICABLE LICENSURE LAW SHALL BE PAYABLE TO THE MISSISSIPPI GRAIN INDEMNITY FUND CREATED UNDER THIS ACT; AND FOR RELATED PURPOSES.

In the Senate

• Chuck Younger

  Sponsor

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

In the Senate Jan 6 – Feb 8

1. Jan 6Referred to the Senate committee on Agriculture
2. Jan 27Reported from committee in the Senate: title sufficient, do pass
3. Feb 8Passed the Senate

In the House of Representatives Feb 9 – Mar 1

1. Feb 9Sent to the House
2. Feb 24Referred to the House committee on Agriculture
3. Mar 1Died in committee in the House