§ 83-7-307. Insurer conduct
An insurer shall perform a comparison of its in-force policies, annuities and retained asset accounts issued in this state against a death master file, on at least a semiannual basis, to identify potential death master file matches. An insurer may comply with the requirements of this section by using the full death master file once […]
§ 83-7-309. Insurer unclaimed property reporting
In the event that an insurer: (a) has identified a person as deceased through a death master file match through a search described in Section 83-7-307(1) or other information source, (b) has validated such information through a secondary information source, and (c) is unable to locate a beneficiary under the policy, annuity or retained asset […]
§ 83-7-311. Limitation on promulgation of rules or regulations that impose additional duties on insurers beyond those set out in Sections 83-7-301 through 83-7-313
Neither the Commissioner of Insurance nor the State Treasurer shall promulgate rules, regulations or issue bulletins that impose, or interpret Sections 83-7-301 through 83-7-313 to impose, additional duties and obligations on insurers beyond those set forth in Sections 83-7-301 through 83-7-313, or otherwise attempt to expand the requirements of Sections 83-7-301 through 83-7-313.
§ 83-7-313. Effect of certain agreements between insurers and Commissioner of Insurance or State Treasurer
In the event that any resolution agreement, regulatory settlement agreement, or a voluntary disclosure agreement between an insurer who has used the death master file to terminate annuity payments but not to locate life beneficiaries and the Commissioner of Insurance or the State Treasurer conflicts with Sections 83-7-301 through 83-7-313, the terms of the agreement […]
§ 83-7-217. Informed consent; confidentiality of medical information; 15-day right to rescind; death of insured within 15-day period deemed rescission; transfer of proceeds of viatical settlement; post-settlement contacts with insured for purpose of determining health status
Before the viatical settlement provider enters into a viatical settlement contract, the provider shall obtain: If the viator is the insured, a written statement from a licensed attending physician that the viator is of sound mind; A witnessed document in which the viator consents to the viatical settlement contract, represents that the viator has a […]
§ 83-7-219. Authority of Commissioner to adopt rules and regulations
The commissioner may: Promulgate rules and regulations implementing Sections 83-7-201 through 83-7-223; Establish standards for evaluating reasonableness of payments under viatical settlement contracts. This authority includes, but is not limited to, regulation of discount rates used to determine the amount paid in exchange for assignment, transfer, sale, devise or bequest of a benefit under a […]
§ 83-7-221. Violations of provisions considered unfair trade practice
A violation of Sections 83-7-201 through 83-7-223 shall be considered an unfair trade practice under Section 83-5-29 et seq. and the violator is subject to the penalties therein.
§ 83-7-223. Continuation of viatical settlement business pending approval or disapproval of license application filed on or before July 1, 2000
A viatical settlement provider, viatical settlement representative or viatical settlement broker transacting business in this state may continue to do so pending approval or disapproval of the provider’s, representative’s or broker’s application for a license if the application is filed with the commissioner by July 1, 2000.
§ 83-7-301. Short title
Sections 83-7-301 through 83-7-313 shall be known as the “Unclaimed Life Insurance Benefits Act.”
§ 83-7-303. Purpose
Sections 83-7-301 through 83-7-313 confirm the applicability of the escheat and unclaimed property statutes of Mississippi to any method of payment for life insurance death benefits regulated by the Mississippi Department of Insurance, and establish the sole standards by which such escheat and unclaimed property statutes are applicable to such payments.