read Read

e-mail E-mailprint Print

2004 Summary of New State Laws - Mississippi

Issue

Bill #

Bill Description

Asbestos

HB 1517

Specifies that the cumulative successor asbestos-related liabilities of a corporation are limited to the fair market value of the total gross assets of the corporation from which successor asbestos-related liabilities are or were assumed or incurred as of the time of the merger or consolidation. Effective 4/20/04.

Product Expansion

SB 2450

Expands the scope of industrial fire coverage to include personal or real losses tied to burglary or theft. Caps the limits of risk for all such industrial fire policies at $20,000. Effective 7/1/04.

Tort Reform

(Comprehensive Reform Addressing - Noneconomic Damages, Product Liability, Punitive Damages, Joint and Several Liability, Jury Duty)

HB 13a

The information contained in this summary is not intended as a portrayal of every property/casualty-related law enacted in each state. Rather, it represents recently enacted legislation specifically identified by NAMIC State and Regulatory Affairs Staff as bearing direct relevance to those issues that represent NAMIC's National State Legislative Agenda or otherwise deemed pertinent to the interests of the majority of NAMIC members.

This summary is for use as a convenient tool for our members, and is not intended, and should not be considered to be, legal advice. Please consult your legal representatives.

Mississippi State Resource Center