STATE OF MISSISSIPPI
OFFICE OF THE COMMISSIONER OF INSURANCE

IN THE MATTER OF:
LIFE INSURANCE AND ANNUITIES
REPLACEMENT REGULATION                                                                                          CAUSE NO. 99-3869
REGULATION 99-2
 

ORDER

This cause came on for hearing to consider the adoption of the Mississippi Insurance Department Proposed Regulation 99-2, entitled "Life Insurance and Annuities Replacement Regulation", and the Commissioner of Insurance (hereinafter Commissioner), having provided interested parties with the opportunity to submit written comments and having held a public hearing and heard the comments of all interested parties and the evidence produced by such parties, finds as follows:
 

I.

That on or about July 7, 2000, the Commissioner, or his duly appointed representative, pursuant to the provisions of Miss. Code Ann. § 25-43-7 (1) (Rev. 1999), filed with the Secretary of State of the State of Mississippi notice that said Commissioner, or his duly appointed representative, would hold a public hearing on Monday, August 7, 2000, at 2:00 p.m. in the Offices of the Commissioner, 18th Floor, Walter Sillers State Office Building, 550 High Street, Jackson, Hinds County, Mississippi, to afford all interested persons the opportunity to submit testimony and evidence and to give opinions, make comments, suggestions or objections concerning proposed Regulation 99-2.
 

II.

That the Commissioner, or his duly appointed representative, pursuant to the provisions of Miss. Code Ann. § 25-43-7 (1) (Rev. 1999), mailed, postage prepaid, copies of an Administrative Procedures Filing Notice and Notice of Hearing to all persons who had made a timely request of the Mississippi Insurance Department for advance notice of the Department's rule-making proceedings.
 

III.

That pursuant to the Notice of Hearing, a public hearing was held before the Commissioner on Monday, August 7, 2000, at 2:00 p.m., in the Offices of the Commissioner, 18th Floor, Walter Sillers; State Office Building, 550 High Street, Jackson, Hinds County, Mississippi, in which all interested parties were given an opportunity to present their views, opinions, suggestions, comments or objections to proposed Regulation 99-2.
 

IV.

That the Commissioner, after having considered all relevant evidence, is of the opinion that it would be in the public interest to adopt Mississippi Insurance Department Regulation 99-2, entitled "Life Insurance and Annuities Replacement Regulation."

IT IS, THEREFORE, ORDERED that the Mississippi Insurance Department Regulation 99-2, a copy of which is attached hereto as Exhibit "A", and made a part hereof as if copied herein in words, lines and figures, should be and is hereby adopted, to be effective July 1, 2001.

IT IS FURTHER ORDERED that any interested person or party who feels they will be adversely affected by this Order shall have ten (10) days from the date of this Order in which such adversely affected person or party may file with the Commissioner a written statement outlining how such person or party will be adversely affected and their reasons for review of the Order.

SO ORDERED this the 28th day of August, 2000.

GEORGE DALE
COMMISSIONER OF INSURANCE