AN ACT TO AMEND SECTION 83-17-501, MISSISSIPPI CODE OF 1972, TO DEFINE CERTAIN TERMS RELATED TO PUBLIC ADJUSTERS; TO AMEND SECTION 83-17-511, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR ADDITIONAL REQUIREMENTS FOR THE LICENSURE FOR PUBLIC ADJUSTERS BY THE DEPARTMENT OF INSURANCE; TO PROVIDE HOW A PUBLIC ADJUSTER SHALL DEMONSTRATE FINANCIAL RESPONSIBILITY; TO PROVIDE FOR THE LICENSING OF BUSINESS ENTITIES AS PUBLIC ADJUSTERS AND NONRESIDENT PUBLIC ADJUSTERS; TO AMEND SECTION 83-17-523, MISSISSIPPI CODE OF 1972, TO REQUIRE ADDITIONAL CONTRACT TERMS IN CONTRACTS BETWEEN A PUBLIC ADJUSTER AND AN INSURED; TO CREATE A NEW SECTION OF LAW THAT PROVIDES THAT ALL FUNDS RECEIVED OR HELD BY A PUBLIC ADJUSTER ON BEHALF OF AN INSURED TOWARD THE SETTLEMENT OF A CLAIM SHALL BE HANDLED IN A FIDUCIARY CAPACITY AND DEPOSITED INTO CERTAIN FIDUCIARY TRUST ACCOUNTS; AND FOR RELATED PURPOSES.

Statutes affected:
As Introduced: 83-17-503, 83-17-505, 83-17-507, 83-17-511, 83-17-501, 83-17-509, 83-17-513, 83-17-515, 83-17-517, 83-17-519, 83-17-521, 83-17-523, 83-17-525, 83-17-527, 83-17-401, 83-17-403, 83-17-405, 83-17-407, 83-17-409, 83-17-411, 83-17-413, 83-17-415, 83-17-417, 83-17-419, 83-17-421, 83-17-423, 83-17-425
Committee Substitute: 83-17-503, 83-17-505, 83-17-507, 83-17-511, 83-17-501, 83-17-509, 83-17-513, 83-17-515, 83-17-517, 83-17-519, 83-17-521, 83-17-523, 83-17-525, 83-17-527, 83-17-401, 83-17-403, 83-17-405, 83-17-407, 83-17-409, 83-17-411, 83-17-413, 83-17-415, 83-17-417, 83-17-419, 83-17-421, 83-17-423, 83-17-425
As Passed by the House: 83-17-503, 83-17-505, 83-17-507, 83-17-511, 83-17-501, 83-17-509, 83-17-513, 83-17-515, 83-17-517, 83-17-519, 83-17-521, 83-17-523, 83-17-525, 83-17-527, 83-17-401, 83-17-403, 83-17-405, 83-17-407, 83-17-409, 83-17-411, 83-17-413, 83-17-415, 83-17-417, 83-17-419, 83-17-421, 83-17-423, 83-17-425
Approved by the Governor: 83-17-501, 83-17-511, 83-17-523