§ 83-47-1. Declaration of purpose
The public health and welfare requires the adoption of this chapter providing for the organization and operation of nonprofit medical liability insurance corporations.
§ 83-47-11. Liability of members for debts of corporation; exemption of private property from execution
The private property of the members of the corporation shall be exempt from the execution for the debts of the corporation, and no member shall be individually liable or responsible for any debts or liabilities of the corporation.
§ 83-47-13. Annual statement
Every such corporation shall annually, on or before the first day of March, file in the office of the commissioner of insurance a statement verified by at least two (2) of the principal officers of said corporation, showing its condition on the thirty-first day of December of the preceding year, which shall be in such […]
§ 83-47-15. Investigation of affairs of corporation; access to books and documents; summoning and examining witnesses under oath
The commissioner of insurance may appoint any deputy or examiner or other person who shall have the power of visitation and examination into the affairs of any such corporation and free access to all of the books, papers and documents that relate to the business of the corporation, and may summon and qualify witnesses under […]
§ 83-47-17. Dissolution or liquidation of corporation
Any dissolution or liquidation of a corporation, subject to the provisions of this chapter, shall be conducted under the supervision of the commissioner of insurance, who shall have all power with respect thereto under the provisions of law with respect to the dissolution and liquidation of insurance companies.
§ 83-47-19. Declaration of charitable status; exemption from taxation
Every corporation organized pursuant to, or subject to, the provisions of this chapter is hereby declared to be a charitable and benevolent institution, and its funds and property shall be exempt from taxation, except from the premium tax levied in accordance with the provisions of this chapter and ad valorem taxes upon real estate and […]
§ 83-47-21. Conversion of nonprofit and nonshare corporations into nonprofit medical liability insurance corporations
Any corporation heretofore or hereafter organized and operating under Chapter 11, Title 79, Mississippi Code of 1972, desiring to become a nonprofit corporation of the kind and character described in this chapter, and to operate under and pursuant to the terms of this chapter, may convert its organization into such nonprofit corporation under this chapter […]
§ 83-47-23. Nonprofit medical liability insurance corporations not covered by insurance guaranty association law
The organization as created under the authority of this chapter shall in no manner be covered under or included in the provisions of Sections 83-23-101 through 83-23-135.
§ 83-47-25. Procedure for converting nonprofit medical liability insurance corporation to stock insurance corporation
A corporation organized under this chapter may become a stock insurance corporation under such plan and procedure as may be approved by the Commissioner of Insurance. The Commissioner of Insurance shall approve any such plan or procedure if: It is equitable to the corporation’s members; It is subject to approval by vote of not less […]
§ 83-47-3. Formation of corporation; contents and approval of articles of incorporation
Any seven (7) or more physicians licensed to practice in Mississippi who are residents of this state, may form a nonprofit corporation under this chapter for the purpose of providing medical, professional, general and other liability insurance to health care providers, health care facilities and managed care organizations in Mississippi and any other state or […]
§ 83-47-5. Election of board of directors; membership in corporation; termination of membership; adoption of bylaws
Corporations organized under this chapter shall not have capital stock, but shall have members as prescribed and contemplated by the terms and provisions of this chapter; and such members shall have the privileges provided for in this chapter. The subscribers to the articles of incorporation as the organizers of the corporation shall have power to […]
§ 83-47-7. Establishing minimum capital and reserve; enforcement by injunction or mandamus
Each corporation established under the provisions of this chapter shall furnish to the commissioner of insurance all information that he may request concerning the number of members of any such corporation and the type of practice of each such member. After considering the number of members and the type of practice of each such member, […]
§ 83-47-9. Dues, fees and assessments; separate classes and groupings for fixing assessments of members; premium taxes
Each member shall pay all dues, fees and assessments in such amounts as may be established from time to time by the resolution of the board of directors. The board of directors shall have the authority to provide for separate and distinct classes of insurance and groupings of members and insureds and to fix assessments […]