19 Miss. Code. R. 3-1.01
TO ALL COMPANIES WRITING HEALTH, ACCIDENT & HOSPITALIZATION INSURANCE IN MISSISSIPPI.
It has come to the attention of the State Insurance Department that certain agents in the State make a practice of having the insured's check made to the agent personally rather than to the company or state agent. In order to provide protection to the insured, both companies and agents are hereby advised that effective November 15, 1957, ALL CHECKS SHALL BE MADE PAYABLE EITHER TO THE COMPANY OR TOAN AUTHORIZED STATE AGENCY, rather than to the individual agent making the sale.
The companies are requested to incorporate in their receipts in bold type "CHECK SHOULD BE MADE PAYABLE TO THE COMPANY OR STATE AGENCY; DO NOT MAKE CHECK PAYABLE TO SALESMAN." Companies having printed receipts already on hand may use a rubber stamp until new forms are printed.
This Order is prompted by the following circumstances: (1) over-charges on the part of salesmen who have checks made payable to themselves and in which instances the company is unable to ascertain the amount actually charged; (2) collection of annual premiums by agents and remittance of partial premiums only; (3) collection of premiums and failure to submit application or premium to the company.
Willful violation of this ruling on the part of an agent will result in revocation of his license.
Please acknowledge receipt of this Order by letter to the Department.
This 30thDay of October, 1957.
19 Miss. Code. R. 3-1.01