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Mississippi Code

Miss. Code Ann. § 83-5-21 (2024)

License revoked if judgments not paid

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If a judgment shall be rendered by any court in this state against any insurance company, and such judgment shall not be paid and satisfied within ninety (90) days after the same shall have become final, it shall be the imperative duty of the commissioner, immediately upon being advised that such judgment has not been paid or satisfied within the time named, to revoke any and every authority, license, or certificate granted to such insurance company, or any agent thereof, to transact any business in this state until again duly licensed. In case of such revocation, no renewal license or certificate of authority to transact business in this state shall be granted to such insurance company for three (3) years after such revocation, and not then unless such judgment has been satisfied. Whenever such license shall be revoked, the commissioner shall give notice of such revocation by mail to every agent of such insurance company who shall have obtained any certificate of authority to transact business for such insurance company in this state.

Codes, 1906, § 2668; Hemingway's 1917, § 5134; 1930, § 5138; 1942, § 5640; Laws, 1912, ch. 228.

Notes of Decisions
Cited in 1 case, 1993–1993 · leading case: Pitts v. Am. Nat'l Ins., 836 F. Supp. 1280 (S.D. Miss. 1993).
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Pitts v. Am. Nat'l Ins., 836 F. Supp. 1280 (S.D. Miss. 1993). “The penalty for violation of this section is revocation of the offending company’s license to do business in this State by the Mississippi Commissioner of Insurance. Defendant contends that the judgment of the Fifth Circuit is declaratory in nature and there is no vested…”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.