Chapter 54 - Mississippi Creditor-Placed Insurance Act

Chapter 54 - Mississippi Creditor-Placed Insurance Act

§ 83-54-1. Purpose of chapter
§ 83-54-3. Application and construction of chapter
§ 83-54-5. Definitions
§ 83-54-7. Effective date and termination date of coverage
§ 83-54-9. Insurance premiums
§ 83-54-11. Exclusions from coverage
§ 83-54-13. Evidence of insurance coverage
§ 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
§ 83-54-17. Insurer to refund unearned premiums within 60 days after termination of coverage; statement of refund provided to debtor
§ 83-54-19. Payment by insurer in the event of loss
§ 83-54-21. Prerequisites for creditor to insure collateral; right of debtor to insure collateral
§ 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
§ 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
§ 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
§ 83-54-29. Rules and regulations
§ 83-54-31. Severability

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