The commissioner of insurance shall examine the charter and bylaws of each company applying for license to do business under the domestic insurance company laws to determine that no stock is placed on option. It shall be unlawful for any domestic insurance company to declare a stock dividend within five (5) years from date of incorporation.
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