Mississippi Code
General Provisions
§ 83-19-15. Organizational meeting

The first meeting for the purpose of organization shall be called by a notice signed by one or more of the subscribers to the articles of association, stating the time, place, and purposes of the meeting, a copy whereof shall, seven (7) days at least before the appointed time, be given to each subscriber, or left at his usual place of business or residence, or duly mailed to his post office address. Whoever gives such notice shall make affidavit thereof, which shall include a copy of the notice and be entered upon the records of the corporation. At such first meeting, including any adjournment thereof, an organization shall be effected by the choice of a temporary clerk, who shall be sworn to correctly keep and record the proceedings of the meeting, by the adoption of bylaws, and by the election of directors and such other officers as the bylaws may require; but at such first meeting no person shall be elected director who has not signed the articles of association. The temporary clerk shall record the proceedings until and including the choice and qualification of the secretary. The directors so chosen shall elect a president, secretary, and other officers who, under the bylaws, they are authorized to choose. The offices of president and treasurer shall not be held by the same individual.

Structure Mississippi Code

Mississippi Code

Title 83 - Insurance

Chapter 19 - Domestic Companies

General Provisions

§ 83-19-1. Classifications of insurance companies

§ 83-19-3. Insurance of apparatus

§ 83-19-5. Expiration of charters under special acts

§ 83-19-7. Expiration of charters under general insurance laws

§ 83-19-9. Powers

§ 83-19-11. Organization of insurance companies

§ 83-19-13. Bylaws

§ 83-19-15. Organizational meeting

§ 83-19-16. Commissioner of Insurance to be notified of changes in officers or directors

§ 83-19-19. Certificate of organization

§ 83-19-21. License fees; deposit into Insurance Department Fund; funding of agency expenses; deposit of monies into State General Fund

§ 83-19-27. Examination of financial ability, condition, and affairs

§ 83-19-29. New companies to file financial statement each quarter for two years

§ 83-19-31. Capital required for various classes of companies

§ 83-19-33. Capital stock payment

§ 83-19-35. Commissioner to approve the price per share of stock

§ 83-19-37. Stock sale

§ 83-19-39. Escrow deposits

§ 83-19-41. No stock to be placed on option

§ 83-19-43. Qualification of certain stock sales with securities exchange commission

§ 83-19-45. Organization through sale of stock in holding company prohibited

§ 83-19-47. Violation to invalidate organization of company

§ 83-19-49. License fees

§ 83-19-51. Investment of funds by domestic insurance companies

§ 83-19-53. Investment to finance buildings for General Services Administration

§ 83-19-55. Real estate holdings

§ 83-19-57. Capital impairment

§ 83-19-59. Application to increase or reduce capital stock

§ 83-19-61. Increase of capital stock

§ 83-19-63. Reduction of capital stock

§ 83-19-65. Dividends

§ 83-19-67. Regulation of management contracts

§ 83-19-69. Certain contracts prohibited in another state

§ 83-19-75. Penalty for failure to report impairment of surplus

§ 83-19-77. Exceptions to surplus requirements

§ 83-19-79. "Equity security" defined

§ 83-19-81. Statements of ownership of equity securities

§ 83-19-83. Recovery of profit realized from certain purchase or sale of equity security

§ 83-19-85. Prohibition of certain sales of equity security

§ 83-19-87. Certain purchases or sales of equity securities excepted

§ 83-19-89. Certain arbitrage transactions excluded

§ 83-19-91. Solicitation of proxies, consents, or authorizations

§ 83-19-93. Transmission of security information

§ 83-19-95. Provisions inapplicable to certain equity securities

§ 83-19-97. Commissioner to make rules and regulations