The purposes of this chapter are to provide for legal expense insurance by the registration of prepaid legal services plans, to promote access to quality legal services at the lowest possible price, and to regulate the development and operation of prepaid legal services plans, and it is the intent of this legislature that this chapter […]
The commissioner may revoke or suspend or refuse to renew the license of any sponsor or representative of such sponsor when and if after investigation the commissioner finds that: Any license issued to such sponsor or representative of such sponsor was obtained by fraud; There was any misrepresentation in the application for the license; The […]
Any sponsor of any prepaid legal services plan, or authorized representative thereof, may enter into a subscription contract with any person, or with any person’s employer, or with any other person or group acting in his or its behalf; provided, however, that: No such subscription contract shall be written for a period longer than three […]
The sponsor of any prepaid legal services plan, or authorized representative thereof, may contract with any company licensed to transact life or casualty insurance in this state, under which contracts such company agrees, for a consideration consisting of a specified premium to assume the monetary obligations of the plan to provide or pay for the […]
No sponsor of any prepaid legal services plan, or authorized representative thereof, shall enter into any contract with subscribers unless and until the sponsor has filed with the commissioner a copy of its underwriting rules and a full schedule of the rates, premiums or membership fees to be charged to the subscribers. These filings shall […]
All advertising and solicitation concerning prepaid legal services plans shall be conducted in a simple, dignified manner. Every item of advertising or solicitation shall conform with the following standards: The form and content of any advertisement or solicitation shall be accurate and shall be sufficiently complete and clear to avoid deception or the capacity or […]
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 […]
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. […]
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, […]
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 […]
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.
The provisions of this chapter shall apply to all persons, groups, fraternal or benevolent organizations, including, but not limited to, insurers, corporations, partnerships, trusts, labor, craft or other unions, or any other entities who propose to operate or are operating or participating in the operation of a prepaid legal services plan as such a plan […]
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 […]
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.
The commissioner shall have full power and authority to promulgate and adopt rules and regulations necessary for the implementation of this chapter.
All insurers licensed to transact life or casualty insurance in this state who are licensed to issue policies of prepaid legal services insurance in this state shall be required to meet all the requirements of this chapter, unless specifically excepted therefrom by this chapter. Provided, that nothing contained herein shall be deemed to relieve the […]
A sponsor shall invest the funds of a prepaid legal services plan only in such investments as are authorized by the laws of this state for the investment of assets of domestic casualty insurance companies and subject to the limitations thereon or in such investments as are authorized by the laws of this state for […]
Any deposits of a sponsor of a prepaid legal services plan deposited with the commissioner pursuant to the provisions of this chapter shall be administered by the commissioner in accordance with the provisions of the Mississippi Code of 1972 as though deposited by a domestic casualty insurer authorized to transact insurance in this state or […]
No subscription contracts for prepaid legal services may be sold or offered for sale in this state prior to July 1, 1983. Provided, that nothing contained herein shall be deemed to prohibit an insurer authorized to transact life or casualty insurance in this state from selling or offering for sale in this state before July […]
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 […]
