Mississippi § 83-7-3 - Distinction in same class and rebates prohibited.
Full text of Mississippi Mississippi Code of 1972 Annotated § 83-7-3 — Distinction in same class and rebates prohibited., with citation guidance and answers to common questions.
§ 83-7-3. Distinction in same class and rebates prohibited.
No life insurance company doing business in Mississippi shall make any distinction or discrimination in favor of individuals of the same class and equal expectation of life in the amount of payments of premiums or rates charged for policies of life or endowment insurance, or in the dividends or other benefits payable thereon, or in any of the terms and conditions of the contract it makes. Nor shall any such company or any agent thereof make any contract of insurance or agreement as to such contracts other than are plainly expressed in the application and policy issued thereon; nor shall any such company or agent pay or allow as inducements to insurance any rebate of premium payable on the policy, or any special favor or advantage in the dividends or other benefits to accrue thereon, or any valuable consideration or inducement whatever not specified in the policy contract of insurance. Whenever it shall appear to the satisfaction of the commissioner, after a hearing before him upon notice, that any company, officer, agent, subagent, broker, or solicitor has violated any provision of this section, he shall revoke the license of any such company or person to transact business in this state; and no other license shall be issued to any such company or person within one (1) year after such revocation. However, nothing in this section shall prevent a company which transacts industrial life insurance on a weekly payment plan from returning to policyholders who have made a premium payment for a period of at least one (1) year the percentage of premium which the company would otherwise have paid for the weekly collection of such premium; nor shall this section be construed to prevent the taking of a bona fide obligation, with legal interest, in payment of any premium.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 83-7-3
What does Mississippi Code of 1972 Annotated § 83-7-3 cover?
Section 83-7-3 ("Distinction in same class and rebates prohibited.") 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 § 83-7-3?
A common citation format is "Mississippi Code of 1972 Annotated § 83-7-3" (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 § 83-7-3 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.