Mississippi Creditor-Placed Insurance Act

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  2. Mississippi Code
  3. Insurance
  4. Mississippi Creditor-Placed Insurance Act

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Section
83-54-1

Purpose of chapter

Section
83-54-3

Application and construction of chapter

Section
83-54-5

Definitions

Section
83-54-7

Effective date and termination date of coverage

Section
83-54-9

Insurance premiums

Section
83-54-11

Exclusions from coverage

Section
83-54-13

Evidence of insurance coverage

Section
83-54-15

Policy forms, certificates of insurance, and schedules of premium rates to be filed with Commissioner of Insurance; disapproval of forms or schedules; schedules not to be excessive, inadequate, or unfairly discriminatory; withdrawal of approval of approved forms or schedules; approved forms and schedules deemed to be in compliance with laws of the state

Section
83-54-17

Insurer to refund unearned premiums within 60 days after termination of coverage; statement of refund provided to debtor

Section
83-54-19

Payment by insurer in the event of loss

Section
83-54-21

Prerequisites for creditor to insure collateral; right of debtor to insure collateral

Section
83-54-23

Entire amount of premium due shall be remitted to insurer in accordance with insurer's requirements; creditor prohibited from retaining unearned premiums upon cancellation without crediting debtor's account; rebates to creditor prohibited

Section
83-54-25

Creditor to make adequate disclosure to debtor of insurance requirement; "adequate disclosure" defined; when creditor may impose charges; "reasonable efforts" to notify debtor; form of notice; evidence of insurance coverage; creditor not required to insure collateral

Section
83-54-27

Commissioner of Insurance authorized to conduct investigations of insurers and producers, to deny, suspend, or revoke certificates of authority or producer's licenses, and to impose civil penalties; judicial review of commissioner's orders

Section
83-54-29

Rules and regulations

Section
83-54-31

Severability