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MS SB2337
Bill
AI Summary
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Authorizes the Commissioner of Insurance or the Executive Director of the Department of Finance and Administration to request in writing the transfer of examination fees collected by the Surplus Lines Association
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Redirects transferred fees from the Department of Insurance Special Fund to the State General Fund, or any fund directed by the Legislature
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Requires that any fee transfer must leave the Surplus Lines Association with sufficient funds to cover operational costs, including necessary software and systems updates
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Maintains the existing examination fee cap of not more than 1% of premiums charged for surplus lines insurance policies
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Effective date of July 1, 2021
Legislative Description
Surplus Lines Association; transfer fees collected by the association upon written request by certain officials.
Last Action
Died In Committee
3/2/2021