The commissioner of insurance shall approve the price per share of stock to be issued by a domestic insurance company upon the filing of a prospectus or brochure by the company. Said prospectus or brochure shall show the total number of shares authorized, and the number of shares to be issued at a specified price, and shall contain in large print the wording "This stock is purely speculative." The above provisions shall also apply to any stock subscribed to under escrow agreement at any organizational meeting.
Structure Mississippi Code
Chapter 19 - Domestic Companies
§ 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
§ 83-19-11. Organization of insurance companies
§ 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
§ 83-19-27. 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
§ 83-19-41. 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
§ 83-19-51. 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
§ 83-19-67. 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