27-15-87 - Individual acting as insurance producer, limited lines producer or limited lines credit insurance producer. - Mississippi Statutes

§ 27-15-87.  Individual acting as insurance producer, limited lines producer or limited lines credit insurance producer.
 

[Until November 1, 2009, this section shall read as follows:]
 

Upon each fire, casualty, liability, fidelity, surety, guaranty and/or inland marine agent or solicitor when the total commission of the agency is in excess of Three Thousand Dollars ($3,000.00) annually  ............ $50.00. 
 

Upon each such agent or solicitor when the total commission of the agency does not exceed Three Thousand Dollars ($3,000.00) annually  ............ $25.00. 
 

Every agent or insurance solicitor for an agent, connected with any insurance agent, firm or corporation who solicits the sale of any of the above-named insurance, whether stock, mutual or reciprocal insurance carriers, directly or indirectly, shall be liable for the above tax. 
 

Whenever a solicitor is employed by any such agent or agency to solicit business for its account, to be placed in the companies represented by said agent or agency, such agent or agency shall make application as provided for in Section 83-17-75(6) and Section 83-17-217, Mississippi Code of 1972, and pay the above tax on such solicitor and such license issued to him shall authorize such solicitor to solicit insurance for the agency. 
 

At the time of the purchase of the license herein provided, every person, firm, corporation or solicitor shall file an affidavit with the Insurance Commissioner of the state stating the amount of commissions earned by said agency (whether such agency be conducted by a person, firm or corporation) during the past year, and this affidavit shall be filed at least once each year, and in the event that the commissioner has reason to believe that such affidavit is incorrect, then in such event, said Insurance Commissioner may refuse to accept said affidavit and demand further proof as to the clarification of said person, firm or corporation applying for said license. If the applicant for said license was not engaged in the insurance business during the year preceding the application for said license, then, in such event, the affidavit shall show said fact, and the Insurance Commissioner shall issue to said applicant a yearly license at and for the sum of Twenty-five Dollars ($25.00) as above provided. 
 

[From and after November 1, 2009, this section will read as follows:]
 

(1)  Upon each individual acting as an insurance producer, limited lines producer, limited lines credit insurance producer  ............ $ 100.00. 

(2)  Upon each individual acting as an insurance producer, limited lines producer or limited lines credit insurance producer that amends its privilege license by adding or removing a line of authority or for the issuance of a duplicate license  ............ $ 25.00. 
 

Sources: Codes, 1942, § 9539; Laws,  1940, ch. 120; Laws, 1944, ch. 138, § 21; Laws, 1948, ch. 353, § 2; Laws, 1962, ch. 477, § 1; Laws, 1985, ch. 433, § 2; Laws, 2001, ch. 510, § 28; Laws, 2009, ch. 448, § 2, eff from and after Nov. 1, 2009.