It shall be unlawful for any person, firm, association, church burial club or association, or corporation to engage in the business of a burial association or to make contracts in advance of death to bury or to pay the funeral expenses of any person or persons or to make contracts in advance of death to […]
Before engaging in said business, any such person, firm, association, or corporation, both foreign and domestic, shall deposit with the Treasurer of the State of Mississippi such securities as may be approved by the Commissioner of Insurance, consisting of certificates of deposit or bonds of the United States, of the State of Mississippi, or of […]
Each policy or contract or certificate issued under Section 83-37-11 shall have attached a buyer’s guide which shall be developed by the Commissioner of Insurance and shall contain a definition of the burial contract, its provisions, its benefits and notice of the freedom of choice as provided by Section 83-37-13.
Contracts written under the provisions of Section 83-37-11 must first be approved by the commissioner of insurance and must be substantially in the following form and language; any variation thereof shall in no manner be less favorable to the insured than the form and language prescribed herein. All policies written under authority of Section 83-37-11 […]
A burial association may enter into burial insurance contracts with citizens of this state in a face amount of not less than Two Hundred Fifty Dollars ($250.00) nor more than Five Hundred Dollars ($500.00) for the funeral of any one person to be paid by any such burial association, subject to strict compliance with the […]
Those burial associations operating under the provisions of Section 83-37-11 shall not be required to pay any premium taxes. Those burial associations incorporated under the provisions of Section 83-37-15 shall be required to pay premium taxes as follows: Such foreign burial insurance companies and associations of every kind and description writing burial insurance contracts under […]
All such persons, firms, associations, or corporations shall, annually before the fifteenth day of February of each year, in accordance with the requirements of a form prepared and furnished by the commissioner of insurance for that purpose and in such detail as the commissioner shall prescribe, file with the commissioner a sworn statement of its […]
When the above and foregoing provisions have been complied with by any person, firm, association or corporation, the insurance commissioner shall issue a license to such person, firm, association or corporation upon the payment to him of a privilege tax to engage in such business, according to the following schedule, to-wit: Any person, firm, association […]
The failure of any person, firm, association, or corporation to promptly pay or fulfill any contract in force at the time of maturity, when legally determined that the contract was in force, the failure to pay promptly when due the examination fee required, the failure to pay the license fee, privilege license when due, or […]
The insurance commissioner shall have full authority to examine the books, records, papers, and all other data belonging to or bearing on the business of any such person, firm, association, or corporation and may designate any practical accountant to make said examination at a reasonable per diem and expenses not to exceed the sum of […]
The annual license granted under this chapter shall be dated as of the first day of March and be good for one year from date. All such persons, firms, associations, or corporations beginning the business herein described after the first day of March in any year shall pay a proportionate part of the privilege tax […]
Any person, firm, association, or corporation engaging in the business herein described without first having complied with the provisions hereof, or any person who shall knowingly make any false statement in the reports required by this chapter as determined by the Commissioner of Insurance after written notice and hearing, shall be assessed a penalty for […]
Any person, firm, or association desiring to engage in the business above set out shall apply to the insurance commissioner of the State of Mississippi for a permit or license; file with the said commissioner a copy or statement in writing of the plan on which he or they propose to operate such business, the […]
Should the insurance commissioner find that any person, firm, association, or corporation engaged in the business herein described has refused to pay any just claim or demand based on the contracts, or that he or they be unable to pay same after the claim or demand has been legally determined to be just and outstanding, […]
This chapter shall not apply to any labor union or labor union organization, whether organized in this state or not, making contracts with its members to pay money or provide funeral expenses in the event of the death of any member or any member’s family. Nor shall it apply to any duly organized fraternal order […]
The Commissioner of Insurance is hereby authorized to promulgate rules and regulations to the extent necessary to regulate the sale and solicitation of burial contracts and in addition may issue a cease and desist order and conduct hearings on any association or individual who is deemed to be in violation of Section 83-37-29.
Until July 1, 1996, companies may be formed and organized to engage in the business herein mentioned with a capital stock of not less than Five Thousand Dollars ($5,000.00). The proposed incorporators, a majority of whom must be residents of the state, and not less than three (3), shall subscribe articles of incorporation in which […]
Any foreign corporation organized to engage in the business of a burial association may be admitted to do business in this state on the following conditions: It shall deposit with the Commissioner of Insurance a certified copy of its charter and a statement of its financial condition and business in such form and detail as […]
Any domestic or foreign corporation engaging in the business set forth herein shall also file with the insurance commissioner sample forms of all such contracts as it proposes to make and enter into and the rates to be charged, and shall secure from the insurance commissioner of this state annually a license to engage in […]
