MS SB2012

Authorizes the Commissioner of Insurance to examine and investigate any person, company, corporation, or association engaged in insurance business to determine if they are operating without proper licensure.

Allows the Commissioner to issue cease and desist orders with or without prior notice and hearing when there is satisfactory evidence of unlicensed insurance activity.

Permits cease and desist orders issued without notice and hearing to specify that the respondent may request 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 upon passage.