83-31-133 - Fees, costs and expenses. - Mississippi Statutes

§ 83-31-133. Fees, costs and expenses.
 

(1)  A director, officer, agent or employee of the mutual insurance company may not receive a fee, commission or other consideration, other than that person's usual salary or compensation, for aiding, promoting or assisting in a conversion under Sections 83-31-101 through 83-31-143, except as provided by the conversion plan approved by the commissioner. 

(2)  All the costs and expenses connected with a conversion plan shall be paid for or reimbursed by the mutual insurance company or the converted stock company. 
 

Sources: Laws,  1998, ch. 576, § 16, eff from and after July 1, 1998.