MS SB2192

Grants Mississippi Insurance Commissioner authority to issue cease and desist orders against licensed insurance entities engaged in improper or unauthorized activities, with violation punishable as a misdemeanor fine up to $5,000 per violation.

Allows Commissioner to automatically deny, suspend, or revoke a nonresident producer's Mississippi license if that producer's license is denied, suspended, or revoked in their home state, without prior notice or hearing.

Requires nonresident producers to be notified by mail of automatic license denial, suspension, or revocation, and permits written request for a hearing within 10 days to challenge the Commissioner's action.

Establishes that hearings on automatic license actions must be held within 30 days of receiving a written request from the affected nonresident producer.

Takes effect July 1, 2016.