MS HB209

Grants the Commissioner of Insurance authority to examine and investigate persons, companies, corporations, or associations engaged in insurance business to determine if they are operating without required licenses.

Authorizes the Commissioner to issue cease and desist orders with or without notice and prior hearing against entities engaged in unlicensed insurance activities.

Requires respondents who receive cease and desist orders without notice and hearing to be allowed to request a hearing for reconsideration within 20 days of the order date.

Makes failure or refusal to comply with a cease and desist order a misdemeanor punishable by a fine of up to $5,000 per violation.

Takes effect July 1, 2015.