MS SB2669

Converts insurance licenses and certificates of authority issued by the Commissioner of Insurance from fixed terms to perpetual status, remaining valid until suspended, revoked, surrendered, or forfeited by the licensee.

Requires insurers to pay privilege tax fees annually on or before March 1 to maintain licenses and certificates of authority in good standing.

Mandates that existing insurers holding licenses or certificates before the effective date receive amended licenses or certificates reflecting the new perpetual status.

Exempts Commissioner of Insurance licenses from standard privilege tax license renewal provisions, including consecutive numbering and fiscal year imprinting requirements.

Takes effect July 1, 2022.