(1) Any person having an insurable interest in insurable property is entitled to apply to the association for such coverage and for an inspection of the property. Such application may be made on behalf of the applicant by a broker or agent licensed in Mississippi authorized by him. Every such application shall be submitted on forms prescribed by the association after consultation with the commissioner. The application shall contain an inquiry as to whether there are unpaid premiums due from the applicant for fire insurance on the property.

The commission paid to the submitting broker or agent shall be equal to ten percent (10%) of the premium collected.

(2) If the association determines that the property is insurable and that there is no unpaid premium due from the applicant for prior insurance on the property, the association, upon receipt of the premium or such portion thereof as is prescribed in the plan of operation, shall cause to be issued a policy of essential property insurance for a term of one (1) year. Any policy issued pursuant to the provisions of this section shall be renewed annually so long as:

(a) The property continues to meet the definition of “insurable property” set forth in Section 83-38-3(e);

(b) A properly completed application for renewal shall have been received by the association on or before the date of renewal; and

(c) Property premiums have been received by the association on or before the date of renewal.

(3) If the association for any reason denies an application and refuses to cause to be issued an insurance policy on insurable property to any applicant, or takes no action on an application within the time prescribed in the plan of operation, the applicant may appeal to the commissioner. The commissioner or a member of the staff of the Insurance Department designated by the commissioner, after reviewing the facts, may determine if the association acted in accordance with the law and the plan of operation. In carrying out the duties pursuant to this section, the commissioner may request, and the association shall provide, any information deemed necessary to a determination concerning the reasons for the denial or delay of the application.