Loading chat...

MS HB326

Bill

Official Source

Status

Failed

2/2/2021

Primary Sponsor

Kevin Ford

Click for details

Origin

House of Representatives

2021 Regular Session

AI Summary

  • Authorizes the Commissioner of Insurance to request transfer of excess funds from the Mississippi Surplus Lines Association to the State General Fund through written request
  • Removes the previous requirement that such fund transfers occur only by act of the Legislature
  • Requires that any transfer must leave the association with sufficient funds to meet operational costs, including necessary software and systems updates
  • Allows transferred funds to be deposited in the State General Fund or any other fund as directed by the Legislature
  • Effective date of July 1, 2021

Legislative Description

Mississippi Surplus Lines Association; authorize Commissioner of Insurance to have excess funds of transferred to the State General Fund.

Last Action

Died In Committee

2/2/2021

Committee Referrals

Insurance1/18/2021

Full Bill Text

No bill text available