MCA Chapter 53

in effect

Miss. Code Ann. § 83-53-1 Legislative purpose; construction.

The purpose of this chapter is to promote the public welfare by regulating credit life insurance and credit disability insurance. Nothing in this chapter is intended to prohibit or discourage competition which is in the public interest. The provisions of this chapter shall be liberally construed.

Miss. Code Ann. § 83-53-3 Scope of chapter; definitions.

All credit life insurance and all credit disability insurance sold in connection with loans or other credit transactions, including lease payments and residuals, shall be subject to the provisions of this chapter, except: Such insurance sold in connection with a loan or other credit transaction of more than ten (10) years’ duration; Such credit life insurance sold in connection with a loan or other credit transaction of an agricultural cooperative financial institution authorized to do business in this state by any act of the Congress of the United States or by the laws of the State of Mississippi; and Such insurance where its issuance is an isolated transaction on the part of the insurer not related to an agreement or a plan or regular course of conduct for insuring debtors of the creditor. For the purposes of this chapter: “Commissioner” means the Commissioner of Insurance of the State of Mississippi; “Credit life insurance” means insurance on the life of a debtor pursuant to or in connection with a specific loan or other credit transactions, including lease payments and residual, exclusive of any such insurance procured at no expense to the debtor, and credit life insurance on agricultural credit transactions. Insurance shall be deemed procured at no expense to the debtor unless the cost of the credit transaction to the debtor varies depending on whether or not the insurance is procured; “Credit disability insurance” means insurance on a debtor to provide indemnity for payments becoming due on a specific loan or other credit transaction while the debtor is disabled as defined in the policy; “Creditor” means the lender of money or vendor or lessor of goods, services, property, rights or privileges, for which payment is arranged through a credit transaction or any successor to the right, title or interest of any such lender, vendor or lessor, which lender, vendor or lessor is the beneficiary of any credit life insurance or credit disability insurance sold in connection with such credit transaction. “Debtor” means a borrower of money or a purchaser or lessee of goods, services, property, rights or privileges, for which payment is arranged through a credit transaction; and “Indebtedness” means the total amount payable by the debtor to a creditor in connection with a loan or other credit transaction. “Insurer” means an insurance company licensed in the State of Mississippi to write credit life insurance and credit disability insurance. “Insurance premium” shall include that portion collected or payable which is compensation as set forth in Section 83-53-25.

Miss. Code Ann. § 83-53-5 Permissible forms of insurance.

Credit life insurance and credit disability insurance shall be issued only in the following forms: Individual policies of life insurance issued to debtors on the term plan; Individual policies of disability insurance issued to debtors on a term plan or disability benefit provisions in individual policies of credit life insurance; Group policies of life insurance issued to creditors providing insurance upon the lives of debtors on the term plan; and Group policies of disability insurance issued to creditors on a term plan insuring debtors or disability benefit provisions in group credit life insurance policies to provide such coverage.

Miss. Code Ann. § 83-53-7 Limitations on amount of insurance.

The initial amount of credit life insurance shall not exceed the total amount repayable under the contract of indebtedness. In the case of revolving loan or revolving charge accounts, the insurance shall not at any time exceed the unpaid indebtedness. Notwithstanding the provisions of the above paragraph, the amount of insurance on agricultural loan commitments may be equal to the amount of the loan commitment. The total amount of periodic indemnity payable by credit disability insurance, in the event of disability as defined in the policy, shall not exceed the aggregate of the periodic scheduled unpaid installments of indebtedness, and the amount of each periodic indemnity shall not exceed the total amount repayable divided by the number of periodic installments.

Miss. Code Ann. § 83-53-9 Term of insurance.

The term of any credit life insurance or credit disability insurance shall commence on the date when the debtor becomes obligated to the creditor, or the date the debtor applies for such insurance, whichever is later, except that where a group policy provides coverage with respect to existing obligations, the insurance on a debtor with respect to such indebtedness shall commence on the effective date of the policy. Where evidence of insurability is required and such evidence is furnished more than ninety (90) days after the date when the debtor becomes obligated to the creditor, the term of the insurance may commence on the date on which the insurance company determines the debtor to be insurable, and in such event there shall be an approximate refund or adjustment on any charge to the debtor for insurance. The term of such insurance shall not extend more than thirty (30) days beyond the scheduled maturity date of the indebtedness, except when extended without additional cost to the debtor.

Miss. Code Ann. § 83-53-11 Reinsurance and retrocession agreements.

An insurer licensed in the State of Mississippi may not enter into any reinsurance agreement or retrocession agreement, with another insurance company after May 1, 1986, whereby credit life or credit accident and health insurance on risks located within this state, would be ceded to an insurer which is not licensed to engage in the writing of such lines of insurance within the State of Mississippi, or which does not meet the statutory financial and other requirements for admission and licensing in this state. An insurer shall not enter into any such reinsurance or retrocession agreement with another insurance company which would by the terms and provisions thereof serve to, either directly or indirectly, circumvent this chapter or any other law of the State of Mississippi, or any regulation issued thereunder. The commissioner shall have the right to inspect, review and approve any reinsurance or retrocession agreement between insurance companies affecting any risks or insureds located in the State of Mississippi pertaining to credit life or credit disability insurance. Provided, however, any reinsurance or retrocession agreements between insurance companies in effect prior to May 1, 1986, shall be allowed to continue, but this chapter shall apply to any renewal, extension, endorsement or similar amendment of any such reinsurance or retrocession agreement.

Miss. Code Ann. § 83-53-13 Requirement of individual policy or certificate of insurance; contents.

All credit life insurance and credit disability insurance subject to this chapter shall be evidenced by an individual policy or, in the case of group insurance, by a certificate of insurance, which individual policy or group certificate of insurance shall be delivered to the debtor. Each individual policy or group certificate of credit life insurance or credit disability insurance or any combination thereof or both shall, in addition to other requirements of law, set forth the name of the insurer, the name or names of the debtor, the premium or amount of payment by the debtor separately for credit life insurance and credit disability insurance, a description of the coverage, including the amount and term thereof, and any exceptions, limitations and restrictions, and shall state that the benefits shall be paid to the creditor to reduce or extinguish the unpaid indebtedness and, whenever the amount of insurance may exceed the unpaid indebtedness, that any excess shall be payable to a beneficiary, other than the creditor, named by the debtor, or his estate. Notwithstanding the provisions of subsection (2) of this section, a certificate issued where the indebtedness is a revolving loan or revolving charge account, may set forth the rate of premium or amount of payment.

Miss. Code Ann. § 83-53-15 Requirement of commissioner’s approval with respect to insurance matters; judicial review.

All policies, certificates of insurance, notices of proposed insurance, applications for insurance, endorsements and riders delivered or issued for delivery in this state, and the schedules of premium rates pertaining thereto, shall be filed with the commissioner for his approval prior to use. If after filing, the commissioner notifies the insurer that the form is disapproved, it is unlawful for the insurer to issue or use the form. In the notice the commissioner shall specify the reason for his disapproval and state that a hearing will be granted within thirty (30) days after receipt of request in writing by the insurer. No such policy, certificate of insurance, notice of proposed insurance, nor any application, endorsement or rider shall be issued or used unless and until the commissioner shall give his prior written approval thereto. Any insurer or other party affected by any order or final determination of the commissioner under the provisions of this section may obtain judicial review thereof by filing in the Circuit Court of Hinds County within thirty (30) days from the date thereof a written petition or complaint praying that said order or final determination be modified or reversed. A copy of such petition or complaint shall be forthwith served upon the commissioner, and the commissioner shall file a transcript of the entire record of the proceedings with said court, which shall then have jurisdiction of the proceedings and questions determined therein. Said court shall have the power to make or enter a judgment modifying, affirming or reversing the order or final determination of the commissioner in whole or in part. A premium rate or schedule of premium rates shall be deemed reasonable for all purposes under this chapter and shall be deemed approved by the commissioner upon filing with the commissioner as required by this section if the premium rate or schedule of premium rates meets the requirements for being considered reasonable under Section 83-53-23. However, a different premium rate or schedule of premium rates shall be deemed reasonable upon the filing thereof with the commissioner as required by this section if it produces, or reasonably may be expected to result in claims incurred in excess of fifty percent (50%) of earned premiums.

Miss. Code Ann. § 83-53-17 Premium rates; refunds; remission of premiums by agent; rules relative to insurer’s certification of compliance with chapter.

Any insurer with the prior approval of the commissioner may revise its schedules of premium rates from time to time and shall file the revised schedules with the commissioner. No insurer shall issue any credit life insurance policy or credit disability insurance policy for which the premium rate exceeds that determined by the schedules of the insurer as previously approved by the commissioner. Each individual policy or group certificate shall provide that in the event of termination of the insurance prior to the scheduled maturity date of the indebtedness, any refund of an amount paid by the debtor for insurance shall be paid or credited promptly by the insurer to the person entitled thereto; provided, however, that no refund of less than Two Dollars ($2.00) need be made. The formula to be used in computing the premium refund shall be the “sum of the digits” formula with respect to decreasing term credit life insurance and credit disability insurance, and the “pro rata” formula with respect to level term credit life insurance. Upon the payment of a death benefit under the credit life insurance coverage, the entire premium shall be considered earned and no refund shall be due. The insurer shall pay or cause to be paid to the debtor any refund due pursuant to this subsection within thirty (30) days of the accrual of such refund. The amount required of a debtor for any credit life or credit disability insurance shall not exceed the premium rate allowed to the insurer computed at the time the cost to the debtor is determined. All premiums payable to the insurer less any compensation to the agent or supervising general agent shall be remitted by the agent or supervising general agent to the insurer within sixty (60) days of collection. The commissioner may promulgate rules whereby an insurer may certify that the policy forms and other documents required to be approved by the commissioner prior to use are in compliance with this chapter.

Miss. Code Ann. § 83-53-19 Reporting and settlement of claims; maintenance of claim files.

All claims shall be promptly reported by the debtor, his agent or estate to the insurer or its designated claims representative, who shall maintain adequate claim files. All claims shall be settled in accordance with the terms of the insurance contract by the insurer who shall be the sole party liable to the debtor for the payment of claims or refunds.

Miss. Code Ann. § 83-53-21 Freedom of debtor to procure insurance from any authorized company.

When credit life insurance or credit disability insurance is required as additional security for any indebtedness, the debtor shall be free to procure the required insurance from any insurance company authorized to transact credit life insurance or credit disability insurance business in this state.

Miss. Code Ann. § 83-53-23 Reasonable insurance rates; prohibition against additional charges.

Credit life insurance rates filed with the commissioner shall be considered reasonable: If the single premium rate for single life decreasing term credit life insurance does not exceed Eighty Cents (80¢) per annum per One Hundred Dollars ($100.00) of initial insured indebtedness; If the single premium rate for single life level term credit life insurance does not exceed a single premium rate of One Dollar and Sixty Cents ($1.60) per annum per One Hundred Dollars ($100.00) of insured indebtedness; If the monthly premium rate on single life credit life insurance on outstanding balances does not exceed a monthly premium of One Dollar and Thirty-three Cents ($1.33) per One Thousand Dollars ($1,000.00) of outstanding indebtedness; If the single premium rate for joint life decreasing term credit life insurance does not exceed One Dollar and Thirty-nine Cents ($1.39) per annum per One Hundred Dollars ($100.00) of initial insured indebtedness; If the single premium rate for joint life level term credit life insurance does not exceed Two Dollars and Eighty ($2.80) per annum per One Hundred Dollars ($100.00) of insured indebtedness; If a monthly premium rate on joint life credit life insurance on outstanding balances does not exceed a monthly premium of Two Dollars and Thirty-four Cents ($2.34) per One Thousand Dollars ($1,000.00) of outstanding indebtedness; If the amount is a minimum premium not exceeding Two Dollars ($2.00). The foregoing life insurance rates are considered reasonable in relation to the benefits only if: The credit life insurance coverage must contain a suicide exclusion provision wherein no benefit shall be paid in case of suicide within the first twelve (12) months after the effective date of the coverage. Coverage is provided or offered to all debtors regardless of age, or to all debtors not older than the applicable age limit, which shall not be less than the attained age of sixty-five (65) years, if the limit applies to the age when the insurance attaches, or not less than attained the age of sixty-six (66) years if the limit applies to the age on the scheduled maturity date of the debt. Such aforementioned requirements provided by this subsection shall not prevent the usage of equitable underwriting standards to determine the eligibility of individual debtors as to a part or all of the coverage provided by the credit life insurance contract. Age and term limits, wherein the amount of insurance provided or offered varies by age, if used, must be clearly shown on the individual policies or group certificates. The following credit disability insurance premium rates filed with the commissioner shall be considered reasonable in relation to the benefits if the single premium rate for credit disability insurance does not exceed the premium rates shown in the following schedule per One Hundred Dollars ($100.00) of initial insured indebtedness. Click to view Premiums payable other than on a single premium basis or for benefits on a basis different than illustrated above shall be actuarially consistent with the above rates. The foregoing disability rates are considered to produce reasonable benefits in relation to premiums only if: Coverage may be provided or offered to all debtors, who are gainfully employed on the effective date of insurance and who are not older than the applicable age limit, which shall not be less than the attained age of sixty-five (65) years, if the limit applies to the age when the insurance attaches, or not less than the attained age of sixty-six (66) years if the limit applies to the age on the scheduled maturity date of the debt. Such aforementioned requirements provided by this subsection shall not prevent the usage of equitable underwriting standards to determine the eligibility of individual debtors as to a part or all of the coverage provided by the disability insurance contract. Age and term limits, wherein the amount of insurance or term provided or offered varies by age, if used, must be clearly shown on the individual policies or group certificates; Coverage does not contain any exclusions except disabilities resulting from intentional self-inflicted injury, pregnancy, foreign residence, flights in nonscheduled aircraft and preexisting illness, disease or physical condition for which the debtor either: (i) knew the existence of such illness, disease or condition on the effective date, or (ii) received medical advice, consultation or treatment during the twelve-month period immediately preceding the effective date of the debtor’s coverage. An insurer may receive approval of a different premium rate or schedule of premium rates to be used in connection with a particular policy form, or any type of coverage other than described herein, or a particular class or classes of risk of the debtors of a creditor, if the insurer demonstrates to the satisfaction of the commissioner that the mortality or morbidity experience which may reasonably be anticipated will develop a loss ratio in excess of fifty percent (50%). No certificate fee, policy issue charge, or any other charge other than the premium herein shall be made. NONRETROACTIVE NO. OF MONTHS BENEFITS RETROACTIVE BENEFITS IN WHICH INDEBTEDNESS IS PAYABLE 14-DAY NONRETRO-ACTIVE 30-DAY NONRETRO-ACTIVE 14-DAY RETROACTIVE 30-DAY RETRO-ACTIVE 1-12 2.50 2.10 3.00 2.85 13-24 3.30 2.90 3.80 3.65 25-36 4.10 3.70 4.60 4.45 37-48 4.90 4.50 5.40 5.25 49-60 5.70 5.30 6.20 6.05 61-72 6.10 5.70 6.60 6.45 73-84 6.50 6.10 7.00 6.85 85-96 6.90 6.50 7.40 7.25 97-108 7.30 6.90 7.80 7.65 109-120 7.70 7.30 8.20 8.05

Miss. Code Ann. § 83-53-25 Limitation upon compensation in connection with insurance contract.

No one shall pay, accrue, credit or otherwise allow, either directly or indirectly, any compensation to any creditor, person, partnership, corporation, association or other entity in connection with any policy, certificate or other contract of credit life insurance or credit disability insurance which exceeds forty-five percent (45%) of the premium rates approved for such policy, certificate or contract. “Compensation,” as used herein, shall include, but not be limited to, all of the following: Commission, fees and expense allowances; The fair market value of all equipment, calculators, goods and services; The fair market value of benefits such as travel, vacations or other rewards of any kind; and All other accruals, payments and other compensation or expenditures in any form whatsoever. “Compensation” shall not include: Bona fide corporate dividends paid or accrued by an insurance company to a stockholder; Bona fide compensation paid to or reimbursement of expenses incurred by a director, officer or employee of an insurance company for the performance of the corporate duties of any such director, officer or employee; Experience refunds paid, allocated or accrued by an insurer pursuant to a written experience refund agreement which are paid only with respect to earned premiums produced by or attributable to the creditor or licensed agent designated to receive such experience refund; provided, however, that: All such experience refund agreements shall be on a form approved in writing by the commissioner; All such experience refunds shall be calculated using only accounting methods approved by the commissioner; All such experience refund calculations shall be made in accordance with the requirements of a form prescribed by the commissioner which form shall provide, among other things, for the deduction of claims incurred, premium taxes earned, compensation paid or earned and expenses incurred during the preceding calendar year, all of which shall be determined in a manner acceptable to the commissioner; and All such experience refunds shall be paid annually within thirty (30) days following the filing of the insurer’s annual statement with the Department of Insurance; Corporate allocations or dividends paid, allocated or accrued by an insurer or insurance holding company from any part of the assets, income, earnings, profits or losses of any corporation, insurer or other legal entity with respect to any class or series of stock, or other equity interest, in the insurer or insurance holding company, including payments for the redemption or purchase by the issuer of such shares or other equity interest. The commissioner is hereby vested with full authority as provided by Section 83-53-29 to regulate, reduce and/or adjust experience refunds or corporate allocations in accordance with the provisions of paragraphs (c) and (d) of subsection (3) of this section.

Miss. Code Ann. § 83-53-27 Additional compensation payable to credit life/credit disability supervising general agent; functions and duties of supervising general agents.

Notwithstanding any provision in Section 83-53-25 to the contrary, an insurer may pay, in addition to the compensation authorized by Section 83-53-25, an overriding commission to a credit life/credit disability supervising general agent. A supervising general agent shall be responsible for and supervise soliciting agents and no soliciting agent under the supervision of the supervising general agent may be either directly or indirectly an employee of a supervising general agent. Furthermore, no supervising general agent shall have any monetary interest in the creditor with whom the soliciting agent is affiliated for the writing of such insurance in any way or exercise any control over such business operation either directly or indirectly. A supervising general agent is defined as an individual or entity which performs the following documented functions: Provides administrative services for insurance companies in the hiring, training and supervision of all agents under the supervising general agent’s authority; Provides underwriting services on behalf of the insurance company; Audits reports submitted by the soliciting agent; Requires compliance of all statutory responsibilities of soliciting agents under the supervising general agent’s authority. Any supervising general agent who has knowledge of statutory violations by soliciting agents under such agent’s supervision or responsibility may be subject to disciplinary action by the Insurance Department for the activities of that soliciting agent or agency. Documentation of the above responsibilities will include the following and must be retained by the supervising general agent for three (3) years: Written records certifying compliance of all hiring, training and monthly reports verifying continuous supervision of the soliciting agents’ activities; Complete records certifying underwriting review of policies and group contracts. Supervising general agents may not receive directly or indirectly any soliciting agents’ commissions nor pay any portion of such overriding commission to any creditor or other agent.

Miss. Code Ann. § 83-53-29 Promulgation of rules and regulations; requirement of information.

The commissioner may, after notice and hearing, issue any rules and regulations that he deems necessary to effectuate the purposes of this chapter or to eliminate devices or plans designed to avoid or render ineffective the provisions of this chapter. The commissioner may require such information as is reasonably necessary for the enforcement of this chapter. All rules and regulations adopted and promulgated pursuant to this chapter shall be subject to the Mississippi Administrative Procedures Law.

Miss. Code Ann. § 83-53-31 Issuance of cease and desist order; penalties.

Whenever there has been a violation of this chapter or any rule or regulation issued pursuant thereto, the commissioner shall issue and serve upon the insurer, agent or other person charged with such violation an order requiring such person to cease and desist from violating this chapter or any rule or regulation issued pursuant thereto. In addition, the commissioner, in the cease and desist order, may impose upon such person a fine not to exceed One Thousand Dollars ($1,000.00) for each violation and may revoke, suspend or decline to renew any license of such person to sell or issue insurance.

Miss. Code Ann. § 83-53-33 Hearing relative to cease and desist order; costs; service of process.

Any person affected by a cease and desist order issued under Section 83-53-31 may, within thirty (30) days after being served with such cease and desist order, petition the commissioner for a hearing to consider the alleged violation of this chapter or any rule or regulation issued pursuant thereto. The commissioner shall set the time and place of such hearing, which shall not be less than ten (10) days nor more than thirty (30) days after the date the petition is received by the commissioner. At the time and place fixed for such hearing, such person shall have an opportunity to be heard and to show cause why the order of the commissioner requiring such person to cease and desist from the violation or violations complained of should not be made final. Upon good cause shown, the commissioner shall permit any person to intervene, appear and be heard at such hearing by counsel or in person. Nothing contained herein shall require the observance at any such hearing of formal rules of pleadings or evidence. The commissioner, upon such hearing, may administer oaths, examine and cross-examine witnesses, receive oral and documentary evidence, and shall have the power to subpoena witnesses, compel their attendance and require the production of books, papers, records, correspondence or other documents which he deems relevant to the inquiry. The commissioner, upon such hearing, may, and upon the request of any party shall, cause to be made a stenographic record of all the evidence and all the proceeding had at such hearing. If no stenographic record is made and if a judicial review is sought, the commissioner shall prepare a statement of the evidence and proceeding for use on review. In case of a refusal of any person to comply with any subpoena issued hereunder or to testify with respect to any matter concerning which he may be lawfully interrogated, the Circuit Court of Hinds County, on application of the commissioner, may issue an order requiring such person to comply with such subpoena and to testify; and any failure to obey any such order of the court may be punished by the court as a contempt thereof. The commissioner by regulation shall provide for the assessment of, costs for stenographic records, process and other related expenses pertaining to proceedings pursuant to this section, and may require a deposit or other security therefor. Statements of charges, notices, orders and other processes of the commissioner may be served by anyone duly authorized by the commissioner, either in the manner provided by law for service of process in civil actions or by registering and mailing a copy thereof to the person affected by such statement, notice, order or other process at his or its residence or principal office or place of business. The verified return by the person so serving such statement, notice, order or other process, setting forth the manner of such service, shall be proof of the same; and the return postcard receipt for such statement, notice, order or other process, registered and mailed as aforesaid, shall be proof of the service of the same.

Miss. Code Ann. § 83-53-35 Order, after hearing, as to findings, conclusions, and decision.

After such hearing the commissioner shall issue and cause to be served upon the person charged with the violation and any petitioner or intervenor an order setting forth the commissioner’s findings, conclusions and decision.

Miss. Code Ann. § 83-53-37 Judicial review.

Any person affected by an order of the commissioner under Section 83-53-35 may obtain a review of such order by filing in the Circuit Court of Hinds County, within thirty (30) days from the date of the service of such order, a complaint praying that the order of the commissioner be modified or set aside. A copy of such petition or complaint shall be forthwith served upon the commissioner, and thereupon the commissioner forthwith shall certify and file in such court a transcript of the entire record in the proceeding, including all the evidence taken and the findings and order of the commissioner. Upon such filing of the petition and transcript, such court shall have jurisdiction of the proceedings and of the question determined therein, shall determine whether the filing of such petition shall operate as a stay of such order of the commissioner, and shall have power to make and enter upon the pleadings, evidence and proceedings set forth in such transcript a judgment modifying, affirming or reversing the order of the commissioner, in whole or in part. Any party, including the commissioner, aggrieved by a final decision of said circuit court, may appeal to the Supreme Court in the manner provided by law.

Miss. Code Ann. § 83-53-39 Effective dates of orders; stay of execution or enforcement.

A cease and desist order issued by the commissioner under Section 83-53-31 shall become final upon the completion of the time allowed for filing a petition with the commissioner for a hearing if no such petition has been duly filed within such time. If a petition for a hearing is filed within such time pursuant to Section 83-53-33, the order of the commissioner shall not take effect and be in force until the issuance of an order pursuant to Section 83-53-35. An order issued pursuant to Section 83-53-35 shall take effect and be in force upon issuance or at such time as may be stated in such order. The commissioner, in his discretion, or the circuit court, upon appeal, may stay the execution or enforcement of any such order.

Miss. Code Ann. § 83-53-41 Appeal from order which does not charge violation.

If the order of the commissioner under Section 83-53-35 does not charge a violation of this chapter or any rule or regulation pursuant thereto, then any petitioner or intervenor in the proceedings may, within thirty (30) days after the service of such report, file a petition or complaint in the Circuit Court of Hinds County for a review of such order. Upon such review, the court shall have the authority to issue appropriate orders and decrees in connection therewith, including orders enjoining and restraining the continuance of any act which it finds, notwithstanding such order of the commissioner, constitutes a violation of this chapter or any rule or regulation issued pursuant thereto.

Miss. Code Ann. § 83-53-43 Penalty for violation of final order; civil action to recover penalty.

Any person who violates an order of the commissioner, after it has become final, and while such order is in effect, shall, upon proof thereof to the satisfaction of the court, forfeit and pay to the State of Mississippi a sum to be determined by the commissioner not to exceed Five Thousand Dollars ($5,000.00) for each violation, which if not paid may be recovered in a civil action instituted in the name of the commissioner in the circuit court in the county of the residence of such person who is a resident of the state. In the case of a nonresident, the action shall be brought in the Circuit Court of Hinds County.

Miss. Code Ann. § 83-53-45 Time for hearing.

Whenever any insurer, agent or other interested party petitions the commissioner for a hearing to consider any alleged violation of this chapter or any rule or regulation issued pursuant thereto, the commissioner shall hold a hearing within thirty (30) days after the petition is filed with the commissioner and proceed as provided in Sections 83-53-33 through 83-53-43.

Miss. Code Ann. § 83-53-47 Relation to other laws.

Nothing in this chapter shall be construed to relieve any person from compliance with any other applicable law of this state.