SEC. 83-41-109. Application for license to issue contracts.

A corporation subject to the provisions of this article may issue contracts only when the commissioner has by formal certificate or license authorized it to do so. Application for such certificate of authority or license shall be made on forms to be supplied by the commissioner, containing such information as he shall deem necessary. Each application for a certificate or license shall be accompanied by copies of the following documents: (a) charter of incorporation, (b) bylaws, (c) proposed contracts between corporation and participating hospitals, showing terms under which hospital service is to be furnished to subscribers, (d) contracts to be issued to subscribers, showing a table of rates to be charged and the benefits to which they are entitled, and (e) financial statement of the corporation, including the amounts of contribution paid or agreed to be paid to the corporation for working capital and the name or names of each contributor and the terms of each contribution.

SOURCES: Codes, 1942, Sec. 5615-05; Laws, 1948, ch. 349, Sec. 5.

1997 Amendment

SECTION 2. Sections 83-41-101, 83-41-103, 83-41-105, 83-41-107, 83-41-109, 83-41-111, 83-41-113, 83-41-115, 83-41-117, 83-41-119, 83-41-121, 83-41-123, 83-41-125, 83-41-127, 83-41-129 and 83-41-131, Mississippi Code of 1972, which provide for the organization and regulation of nonprofit hospital, medical and surgical service corporations by the Commissioner of Insurance, are repealed.

SOURCE: 1997 Laws, Chapter 307, Sec 2, SB2066, Effective July 1, 1997.