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27-41-33
Section 27-41-33 Particular investments - Loans on personal property; chattel mortgages. In
connection with mortgage loans made under subdivisions (2) and (3) of Section 27-41-29, an
insurer may loan on the value of personal property items listed in the Department of Housing
and Urban Development Commitment for Insurance or the Veterans Administration Certificates
of Reasonable Value. Nothing in this section shall be deemed to prevent an insurer from taking
liens on personal property items as additional security for any investment eligible for investment
under this chapter. Domestic life insurance companies are authorized to invest, within the
limitations set forth in this section, in chattel mortgages resulting from the financing of
tangible personal property, which mortgages must constitute valid first liens on the chattels
mortgaged. The maximum amount of such mortgages to be admitted as assets shall not exceed
one half of the amount of surplus remaining after deducting from capital...
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27-31B-16
Section 27-31B-16 Tax on premiums collected. (a) Each captive insurance company shall pay to
the commissioner, by March 1 of each year, a tax at the rate of four-tenths of one percent
on the first 20 million dollars, three-tenths of one percent on the next 20 million dollars,
two-tenths of one percent on the next 20 million dollars, seventy-five thousandths of one
percent on each dollar thereafter on the direct premiums collected or contracted for on policies
or contracts of insurance written by the captive insurance company during the year ending
December 31 next preceding, after deducting from the direct premiums subject to the tax the
amounts paid to policyholders as return premiums which shall include dividends on unabsorbed
premiums or premium deposits returned or credited to policyholders. Notwithstanding the foregoing,
no tax shall be due or payable as to considerations received for annuity contracts. (b) Each
captive insurance company shall pay to the commissioner by March 1 of...
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37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state, shall
execute a compact, in substantially the following form, with the State of Mississippi, and
the Legislature approves and ratifies the compact in the form substantially as follows: Northeast
Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states solemnly
agree: Article I. The purpose of this compact is to promote and develop trade, commerce, industry,
and employment opportunities for the public good and welfare in northeast Mississippi and
northwest Alabama through the establishment of a joint interstate authority to acquire certain
railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
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27-40-15
Section 27-40-15 Premium financed to be sent to insurance company, agent, or surplus lines
broker; issuance of drafts, etc.; duties with respect to cancellation. (a) The amount of premium
financed, more specifically referred to as "the principal balance" in paragraph
c. of subdivision (3) of subsection (a) of Section 27-40-8, shall be sent to the insurance
company or companies, or the agent or surplus lines broker. (b) All drafts, checks, or other
orders of payment issued for premiums financed shall be issued by or on behalf of the premium
finance company and shall be mailed, delivered, or otherwise transmitted directly to the insurance
company or its agent, or surplus lines broker. Any check, draft, or other order or form of
payment to any insurance agent, insurance broker, managing general agent, or other person,
when issued shall be presumed to have been issued by the duly authorized agent of the premium
finance company which provided the checks or drafts to the person issuing the...
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5-5A-23
Section 5-5A-23 Investments and loans with respect to housing. (a) Banks, insurance companies
and savings and loan associations are authorized: (1) To make such loans and advances of credit
and purchases of obligations representing loans and advances of credit as are eligible for
insurance and to obtain such insurance; and (2) To make such loans secured by real property
or leasehold as the Federal Housing Administrator insures or makes a commitment to insure
and to obtain such insurance. (b) It shall be lawful for banks, insurance companies or savings
and loan associations to purchase, invest in and dispose of bonds or notes secured by mortgages
issued by the Federal Housing Administrator and in securities issued by national mortgage
associations. (c) No law of this state requiring security upon which loans or investments
may be made, or prescribing or limiting interest rates upon loans or investments, or prescribing
or limiting the period for which loans or investments may be made...
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27-41-18
Section 27-41-18 Particular investments - American insurance stocks. An insurer may invest
in the stocks of other solvent insurers formed under the laws of the United States or any
state thereof, provided that the total amount of the insurer's investments in excess of the
net asset value of the stock acquired shall not at any time exceed the greater of 10 percent
of assets of the insurer or the insurer's capital and surplus less the minimum capital and
surplus required of said insurer to transact insurance by Sections 27-3-7 and 27-3-8 of the
Alabama Insurance Code. (Acts 1977, No. 408, p. 530, §18.)...
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16-65-10
Section 16-65-10 Investment in bonds. The State Treasurer may invest any idle or surplus moneys
of the state in bonds of the authority. The governing body of any county or municipality is
authorized in its discretion to invest any idle or surplus money held in its treasury in bonds
of the authority. Such bonds shall be legal investments for executors, administrators, trustees,
and other fiduciaries, unless otherwise directed by the court having jurisdiction of the fiduciary
relation or by the document that is the source of the fiduciary's authority, and for savings
banks and insurance companies organized under the laws of the state. (Acts 1997, No. 97-388,
p. 632, §10.)...
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22-23A-12
Section 22-23A-12 Investment in bonds of authority. The State Treasurer may invest any idle
or surplus moneys of the state in bonds of the authority. The governing body of any county
or municipality is authorized in its discretion to invest any idle or surplus money held in
its treasury in bonds of the authority. Such bonds shall be legal investments for executors,
administrators, trustees and other fiduciaries, unless otherwise directed by the court having
jurisdiction of the fiduciary relation or by the document that is the source of the fiduciary's
authority, and for savings banks and insurance companies organized under the laws of the state.
(Acts 1988, 1st Ex. Sess., No. 88-857, p. 338, §12.)...
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22-34-12
Section 22-34-12 Investment in authority bonds. The State Treasurer may invest any idle or
surplus moneys of the state in bonds of the authority. The governing body of any county or
municipality is authorized in its discretion to invest any idle or surplus money held in its
treasury in bonds of the authority. Such bonds shall be legal investments for executors, administrators,
trustees and other fiduciaries, unless otherwise directed by the court having jurisdiction
of the fiduciary relation or by the document that is the source of the fiduciary's authority,
and for savings banks and insurance companies organized under the laws of the state. (Acts
1987, No. 87-226, p. 317, §12.)...
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11-101A-17
Section 11-101A-17 Securities are legal investments. Securities issued under this chapter are
hereby made legal investments for savings banks and insurance companies organized under the
laws of the state. Unless otherwise directed by the court having jurisdiction thereof or the
document that is the source of authority, a trustee, executor, administrator, guardian, or
one acting in any other fiduciary capacity may, in addition to any other investment powers
conferred by law and with the exercise of reasonable business prudence, invest trust funds
in securities of an authority. The governing body of any authorizing subdivision, or any county
or municipality in which any project of an authority may be situated, may, in its discretion,
invest in securities of the authority any idle or surplus money held in its treasury which
is not otherwise earmarked or pledged. (Act 2001-642, p. 1317, §1.)...
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