MS SB2740

Authorizes counties, municipalities, school districts, community/junior colleges, and other political subdivisions to pool their risks and collectively purchase property insurance or establish self-insurance funds/reserves.

Permits any combination of property insurance purchase, self-insurance funds, and self-insurance reserves among participating public entities.

Requires that any self-insurance program administration and service be contracted to a third party and approved by the Commissioner of Insurance.

Allows participating entities to expend funds from any available source to obtain and maintain property insurance through pooled arrangements.

Takes effect July 1, 2024, and amends Sections 19-7-7, 21-37-45, and 37-7-303 of the Mississippi Code of 1972.