§ 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.
§ 83-31-173. Provisions applicable to mutual insurance holding companies; exemptions from certain provisions
Each mutual insurance holding company shall be subject to the applicable laws and rules of this state relating to insurance holding company systems. A mutual insurance holding company shall not be subject to provisions of Title 83 of the Mississippi Code or rules adopted thereunder with respect to the writing of insurance or required capital […]
§ 83-31-175. Actions challenging validity
An action challenging the validity of or arising out of acts taken or proposed to be taken regarding a plan of reorganization under Sections 83-31-47 or 83-31-101 through 83-31-181 must begin in the Chancery Court of the First Judicial District of Hinds County, Mississippi, not later than the thirtieth day after the effective date of […]
§ 83-31-157. Holding company merger or consolidation
Subject to applicable requirements of Sections 83-31-47 and 83-31-101 through 83-31-181 and Section 83-6-1 et seq., a mutual insurance holding company may: Merge or consolidate with, or acquire the assets of, a mutual insurance holding company formed under Sections 83-31-47 or 83-31-101 through 83-31-181 or any similar entity or organization formed under the laws of […]
§ 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 […]