Section 83-34-5 - Powers and dutiesThe association shall, pursuant to the provisions of this chapter and the plan of operation, and with respect to essential property insurance on insurable property, have the power:
(a) To issue policies of essential property insurance on insurable property to applicants;(b) At its option, and with consent of the commissioner, to issue policies of related essential property insurance on insurable property to applicants;(c) To purchase reinsurance for all or part of the risks of the association;(d) To levy and collect recoupable and nonrecoupable assessments from assessable insurers;(e) To issue bonds or incur other forms of indebtedness, including, but not limited to, loans, lines of credit or letters of credit;(f) To establish underwriting criteria consistent with the provisions of this chapter and as approved by the commissioner;(g) To invest and reinvest income and assets subject to the oversight of the commissioner;(h) To enter into contractual agreements with third parties, including the Mississippi Windstorm Mitigation Coordinating Council, for the purposes of developing and implementing windstorm mitigation programs; and(i) All other powers necessary to carry out the provisions and intent of this chapter.Laws, 1987, ch. 459, § 4; Laws, 2007, ch. 425, § 8; Laws, 2011, ch. 460, § 2, eff. 7/1/2011.Amended by Laws, 2019, ch. 450, HB 444,§ 4, eff. 7/1/2019.