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2013 Mississippi Code
Title 83 - INSURANCE
Chapter 45 - NONPROFIT, COMMUNITY SERVICE BLOOD SUPPLY PLANS
§ 83-45-3 - Requirement for licensing


MS Code § 83-45-3 (2013) What's This?

Requirement for licensing shall be as follows:

(a) A deposit with any depository approved by the state for the benefit of policyholders/members in the amount of One Dollar ($ 1.00) for each policyholder currently insured to guarantee perpetuation of the organization until all membership contracts are terminated.

(b) A deposit in a like amount to a catastrophe fund, but this deposit shall be made on the first renewal of each contract.

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