Every such insurance company, corporation, or association of individuals shall pay to the insurance commissioner the sum of Two Hundred Dollars ($200.00) for his services in making the examination and issuing the permit provided by the preceding subsection; and every agent, person, or corporation offering the stock for sale shall pay to the said commissioner the sum of Ten Dollars ($10.00). Said sums shall be paid into the state treasury as other taxes collected by him. The license shall only permit such sales to be made upon plan submitted to the insurance commissioner, and at the prices and commissions designated in such license.
For failure or refusal to obtain authority provided for herein, such insurance company, corporation, or association of individuals so failing or refusing to obtain such permit shall be forever barred from admission to this state to transact insurance. No person, firm, or corporation shall in any manner represent, as agent or otherwise, such insurance company, corporation, or association of individuals for the sale of stock, or for any other purpose, before securing the permit herein provided.
No company, corporation, or other person within the terms of this section shall sell such stock and insurance together, or one as an inducement to the sale or purchase of the other and, for any violation of this section, shall be subject to the same penalties herein otherwise imposed for the violation of any provision of this chapter.
For the prosecutions herein provided, the insurance commissioner shall have the powers of a trial justice, or he, or any other person cognizant of the facts, may make affidavit, returnable before a justice of the peace, whose duty it shall be to proceed with the trial as provided by law for any other violation thereof.
Structure Mississippi Code
Chapter 5 - General Provisions Relative to Insurance and Insurance Companies
Article 1 - General Provisions
§ 83-5-1. Concerns subject to department
§ 83-5-3. All companies to submit to all laws of state
§ 83-5-9. Business to be conducted in corporate name
§ 83-5-15. License fees for each class of business
§ 83-5-19. Sale of stock regulated
§ 83-5-21. License revoked if judgments not paid
§ 83-5-25. Certain insurance prohibited
§ 83-5-27. Discrimination through fictitious grouping prohibited
§ 83-5-29. Insurance business practices regulated
§ 83-5-30. Notice of withdrawal, cancelation, or failure to renew insurance; penalties
§ 83-5-33. Unfair methods of competition and deceptive practices prohibited
§ 83-5-35. Unfair methods of competition and unfair or deceptive acts or practices defined
§ 83-5-37. Power of commissioner
§ 83-5-47. Judicial review by intervenor
§ 83-5-49. Penalty for violation of cease and desist order
§ 83-5-51. Provisions cumulative
§ 83-5-53. Blank forms furnished
§ 83-5-57. Reinsurance returns made annually
§ 83-5-59. Statements examined and abstracts published
§ 83-5-61. Certain premiums declared and taxed
§ 83-5-63. Penalty for failure to declare
§ 83-5-67. License revoked if statement untrue
§ 83-5-71. Duration of license
§ 83-5-75. Fees of fraternal orders
§ 83-5-77. Publication fees; funding of agency expenses; deposit of monies into State General Fund
§ 83-5-79. Investigation of complaint by citizens
§ 83-5-81. Suit for payment of expense if refused
§ 83-5-83. Refusal to comply; license revoked
§ 83-5-87. Contents of residential property insurance policy