Mississippi § 83-1-159 - Administrative supervisor; prohibited activities of insurer.
Full text of Mississippi Mississippi Code of 1972 Annotated § 83-1-159 — Administrative supervisor; prohibited activities of insurer., with citation guidance and answers to common questions.
§ 83-1-159. Administrative supervisor; prohibited activities of insurer.
During the period of supervision, the commissioner or his designated appointee shall serve as the administrative supervisor. The commissioner may provide that the insurer may not do any of the following things during the period of supervision, without the prior approval of the commissioner or his appointed supervisor: Dispose of, convey or encumber any of its assets or its business in force; Withdraw any of its bank accounts; Lend any of its funds; Invest any of its funds; Transfer any of its property; Incur any debt, obligation or liability; Merge or consolidate with another company; Approve new premiums or renew any policies; Enter into any new reinsurance contract or treaty; Terminate, surrender, forfeit, convert or lapse any insurance policy, certificate or contract, except for nonpayment of premiums due; Release, pay or refund premium deposits, accrued cash or loan values, unearned premiums, or other reserves on any insurance policy, certificate or contract; Make any material change in management; or Increase salaries and benefits of officers or directors or the preferential payment of bonuses, dividends or other payments deemed preferential.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 83-1-159
What does Mississippi Code of 1972 Annotated § 83-1-159 cover?
Section 83-1-159 ("Administrative supervisor; prohibited activities of insurer.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Mississippi § 83-1-159?
A common citation format is "Mississippi Code of 1972 Annotated § 83-1-159" (Mississippi). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 83-1-159 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Mississippi.