Authority and Purpose

Authority and Purpose A. This regulation is adopted and promulgated pursuant to the authority granted by Miss. Code Ann. § 83-65-101, et seq. (Rev. 2011), Regulation of Vehicle Service Contracts, and in accordance with the provisions of The Mississippi Administrative Procedures Law, Miss. Code Ann. § 25-43-1.101, et seq., and the Mississippi Insurance Department Regulation found at Miss. Admin. Code, Part 1, Chapter 15, which regulation is entitled, “Rules of Practice and Procedure Before the Mississippi Insurance Department.” B. The purpose of this regulation is to set forth rules and procedural requirements which the Commissioner of Insurance deems necessary for consistent regulation of vehicle service contracts, companies and entities engaged in the marketing and selling of these contracts in the State of Mississippi, and to ensure that there is clear guidance concerning the rules of the Mississippi Insurance Department pertaining to the regulation of vehicle service contracts.