§ 83-49-45. Tax imposed on premiums; collection and enforcement
In addition to any license fee or tax now or hereafter provided by law, which shall be paid when the company or sponsor enters or is admitted to do business in this state, there is hereby levied and imposed upon all insurance companies and sponsors an additional annual license or privilege tax of three percent […]
§ 83-49-47. Agent or representative of sponsor; license required; fee; investigation; denial; grounds for issuance
No person shall act as a representative of a sponsor or agent of a sponsor as defined in Section 83-17-1, Mississippi Code of 1972, without first having obtained a license from the commissioner to act as an agent or representative of a sponsor of prepaid legal services in this state. The annual license fee shall […]
§ 83-49-49. Reserve
Any insurer or sponsor operating or writing a prepaid legal services plan in this state shall be required to set aside as a legal reserve to protect the holders of its policy or subscription contracts in this state the pro rata unearned portion of the premium paid for such contract, to be held until termination […]
§ 83-49-21. Provisions of §§ 83-5-29 through 83-5-51 applicable to plan sponsors
The provisions of Sections 83-5-29 through 83-5-51 applicable to “insurers” shall apply to sponsors as defined in this chapter and for the purpose of determining whether a violation of Sections 83-5-29 through 83-5-51 has occurred, a “sponsor” as defined in this chapter shall be deemed to be a “person” as used in Sections 83-5-29 through […]
§ 83-49-23. Capitalization of sponsors other than insurers; impairment
No license or renewal license under this chapter shall be issued to a sponsor other than an insurer as defined herein, unless such sponsor: Shall possess as minimum capital and thereafter maintain a minimum balance of at least Five Thousand Dollars ($5,000.00) in its capital accounts as shown in its annual report to the commissioner. […]
§ 83-49-25. Annual report; contents
Every sponsor of a prepaid legal services plan shall, annually, on or before the first day of March, file in the office of the commissioner the following items: A statement, verified by at least two (2) of its principal officers or trustees, showing the financial condition of the plan on December 31 then next preceding, […]
§ 83-49-27. Retention of records; inspection and report; expenses
The commissioner shall require every sponsor of a prepaid legal services plan to retain at the address shown on its license the plan-related books, records, accounts and vouchers for a term of five (5) years beginning immediately after the completion of the transaction and kept in such manner that the commissioner or his authorized representatives […]
§ 83-49-29. Hearings and proceedings to be in conformity with §§ 83-17-123 et seq
Except as otherwise provided in this chapter, all hearings and proceedings held under this chapter shall be conducted in accordance with the provisions of Section 83-17-123 et seq. and the commissioner shall have all the powers granted to him therein.
§ 83-49-31. Injunctive relief against plans in violation of chapter; appointment of receivers; enforcement of criminal laws
If the commissioner finds that any prepaid legal services plan operator or its sponsor (a) has failed to comply with any provision of this chapter; (b) is fraudulently operated; (c) is in such condition as to render further plan operations hazardous to the public interest or the interest of subscribers; (d) is financially unable to […]
§ 83-49-33. Venue provisions applicable to sponsors
The venue provisions applicable to “insurers” under Title 83, Chapters 19 and 21, Mississippi Code of 1972, shall apply to sponsors as defined in this chapter.