Find Laws Find Lawyers Free Legal Forms USA State Laws

MISSISSIPPI STATUTES AND CODES

75-63-61 - Requirements for contract funded by insurance.

§ 75-63-61. Requirements for contract funded by insurance.
 

(1)  If the preneed contract is funded with insurance, and payment is made to the contract seller rather than directly to the life insurance company, the contract seller shall timely submit to the insurance company all premiums collected from the contract purchaser. 

(2)  At the time of death, the proceeds of the policy shall be settled in accordance with the policy. If the contract provider furnishes merchandise and services as indicated in the contract, the contract provider is entitled to retain the proceeds of the policy in accordance with the preneed contract. If the contract provider does not furnish merchandise and/or services as provided in the preneed contract, the contract provider shall pay to the estate of the contract insured or the substitute provider of the merchandise and/or services the proceeds of the policy within ten (10) days of receipt of these proceeds. 
 

Sources: Laws, 2001, ch. 513, § 6; Laws, 2009, ch. 549, § 6, eff from and after July 1, 2009.
 

Mississippi Forms by Issue

Mississippi Business Forms
Mississippi Court Forms
> Case Evaluation
> Dispute
Mississippi Divorce Forms
Mississippi Family Forms
Mississippi Gun Forms
Mississippi Marriage Forms
Mississippi Name Change Forms
Mississippi Tax Forms

Mississippi Law

Mississippi State Laws
    > Mississippi Child Support
    > Mississippi Gun Laws
    > Mississippi Statute
Mississippi Tax
    > Mississippi State Tax
Mississippi Agencies
    > Mississippi Department of Corrections
    > Mississippi Department of Education
    > Mississippi Secretary of State
    > Mississippi State Tax Commission

Mississippi Court Map

Tips