Mississippi § 83-27-5 - Capital of $100,000 in securities required.
Full text of Mississippi Mississippi Code of 1972 Annotated § 83-27-5 — Capital of $100,000 in securities required., with citation guidance and answers to common questions.
§ 83-27-5. Capital of $100,000 in securities required.
No such company shall be accepted as surety unless the amount of at least One Hundred Thousand Dollars ($100,000.00) of its said paid-up capital is invested in solvent securities created by the laws of the United States or of the State of Mississippi or by or under the laws of the state by which such company is incorporated, or in other safe securities the value of which, at the time of such acceptance, shall be at or above par and which are deposited with the insurance commissioner, auditor, comptroller, or chief financial officer of the state under whose laws such company is incorporated, and the commissioner of insurance of this state is furnished with the certificate of such commissioner, auditor, comptroller, or officer, under his hand and official seal that he, as said insurance commissioner, auditor, comptroller, or chief financial officer of said state holds the said securities in trust and on deposit for the benefit of such obligees of such company, which certificate shall describe the items of security so held and shall state that he is satisfied they are worth One Hundred Thousand Dollars ($100,000.00).
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 83-27-5
What does Mississippi Code of 1972 Annotated § 83-27-5 cover?
Section 83-27-5 ("Capital of $100,000 in securities required.") 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 § 83-27-5?
A common citation format is "Mississippi Code of 1972 Annotated § 83-27-5" (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 § 83-27-5 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.