Mississippi § 83-52-7 - Insurance policies insuring GAP waivers; coverage to cover subsequent assignees; coverage to remain in effect
Full text of Mississippi Mississippi Code of 1972 Annotated § 83-52-7 — Insurance policies insuring GAP waivers; coverage to cover subsequent assignees; coverage to remain in effect, with citation guidance and answers to common questions.
§ 83-52-7. Insurance policies insuring GAP waivers; coverage to cover subsequent assignees; coverage to remain in effect
Contractual liability or other insurance policies insuring GAP waivers shall state the obligation of the insurer to reimburse or pay to the creditor or administrator any sums the creditor is legally obligated to waive, or administrator is legally obligated to pay, under the GAP waivers issued by the creditor or administrator and purchased or held by the borrower. Coverage under a contractual liability or other insurance policy insuring a GAP waiver shall also cover any subsequent assignee upon the assignment, sale or transfer of the finance agreement. Coverage under a contractual liability or other insurance policy insuring a GAP waiver shall remain in effect unless cancelled or terminated in compliance with applicable insurance laws of this state. The cancellation or termination of a contractual liability or other insurance policy shall not reduce the insurer’s responsibility for GAP waivers issued by the creditor or administrator prior to the date of cancellation or termination and for which the premium has been received by the insurer.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 83-52-7
What does Mississippi Code of 1972 Annotated § 83-52-7 cover?
Section 83-52-7 ("Insurance policies insuring GAP waivers; coverage to cover subsequent assignees; coverage to remain in effect") 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 § 83-52-7?
A common citation format is "Mississippi Code of 1972 Annotated § 83-52-7" (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 § 83-52-7 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.