MS HB225

Extends the repeal date of Section 83-17-7, Mississippi Code of 1972, from an unspecified date to July 1, 2013, which prohibits insurance companies and agents from paying commissions to unlicensed persons.

Maintains exceptions allowing commissions to surviving spouses and heirs of deceased licensed insurance agents, regardless of their licensing status.

Permits licensed agents to pay one-time nominal referral fees to unlicensed employees for customer referrals, provided the fee is a fixed dollar amount not based on premiums or commissions and not contingent on a sale.

Authorizes the Commissioner of Insurance to promulgate necessary rules and regulations to implement these provisions.

Takes effect July 1, 2010.