Mississippi § 83-53-11 - Reinsurance and retrocession agreements.
Full text of Mississippi Mississippi Code of 1972 Annotated § 83-53-11 — Reinsurance and retrocession agreements., with citation guidance and answers to common questions.
§ 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.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 83-53-11
What does Mississippi Code of 1972 Annotated § 83-53-11 cover?
Section 83-53-11 ("Reinsurance and retrocession agreements.") 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 § 83-53-11?
A common citation format is "Mississippi Code of 1972 Annotated § 83-53-11" (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 § 83-53-11 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.