§ 83-31-177. Mutual insurance holding company conversion to stock holding company
A mutual insurance holding company may become a stock holding company under such plan and procedure as may be approved by the commissioner and as provided in Section 83-31-101 et seq.
§ 83-31-179. Fees, costs and expenses
A director, officer, agent or employee of the mutual insurance company may not receive a fee, commission or other consideration other than that person’s usual salary or compensation for aiding, promoting or assisting in a plan of reorganization under Sections 83-31-47 or 83-31-101 through 83-31-181, except as provided by the plan of reorganization approved by […]
§ 83-31-181. Rules and regulations
The commissioner may adopt rules and regulations implementing the provisions of Sections 83-31-101 through 83-31-179, including, but not limited to, the regulation of the solvency of mutual insurance holding companies and intermediate holding companies.
§ 83-31-159. Filing and approval of articles of association
No mutual insurance holding company shall be formed unless its articles of association are approved by the commissioner before filing the articles of association with the Mississippi Secretary of State as provided by law. The articles of association shall be effective when filed with and approved by the commissioner and also filed with the Mississippi […]
§ 83-31-161. Amending articles of association
A domestic mutual insurance holding company may amend its articles of association by vote of a majority of those members present or represented by proxy at a lawful meeting of its members if the notice given members included due notice of the proposal to amend. Upon adoption of an amendment, the articles of amendment shall […]
§ 83-31-163. Bylaws
The initial board of directors of a mutual insurance holding company shall adopt bylaws. The bylaws shall provide: That each member is entitled to one (1) vote upon each matter coming to a vote at meetings of members or to more votes in accordance with a reasonable classification of members as set forth in the […]
§ 83-31-165. Directors
The affairs of every mutual insurance holding company shall be managed by not less than five (5) directors. Directors shall be elected by the members of the mutual insurance holding company at the annual meeting of members. Directors may be elected for terms of not more than three (3) years each and until their successors […]
§ 83-31-167. Dissolution, liquidation, commissioner jurisdiction and investments
A mutual insurance holding company and, if applicable, an intermediate holding company shall not be dissolved or liquidated without the approval of the commissioner. The commissioner shall retain jurisdiction over a mutual insurance holding company incorporated in this state and, if applicable, an intermediate holding company, to assure that policyholder interests are protected, including, but […]
§ 83-31-169. Membership requirements
Membership in a mutual insurance holding company shall be determined in accordance with the mutual insurance holding company’s articles of association and bylaws and, subject to such exceptions as are set forth in the articles of association or bylaws, shall be based upon each member’s holding a policy of insurance with a subsidiary insurance company. […]
§ 83-31-171. Voluntary dissolution
Upon any voluntary dissolution of a domestic mutual insurance holding company, its assets remaining after discharge of its indebtedness, if any, and expenses of administration shall be distributed to existing persons who were its members at any time within the three-year period preceding the date such liquidation was authorized or ordered or date of last […]