Bill > SB2918

This bill prohibits the Commissioner of Insurance, candidates for that office, and employees of the Department of Insurance from knowingly accepting campaign contributions from entities that the Department of Insurance regulates, referred to as "covered persons." A "covered person" is defined broadly to include owners, agents, legal representatives, or anyone acting at their direction for insurance companies or related entities. Conversely, covered persons are also prohibited from making such campaign contributions. Violations of these prohibitions carry penalties, including forfeiture of office, fines of at least $5,000, and imprisonment for at least one year. If an unlawful campaign contribution is received unknowingly, the recipient has 30 days after discovery to return its value to the Secretary of State to avoid penalties; the Secretary of State will then deposit these funds into an Election Support Fund. The bill clarifies that "campaign contribution" includes anything of value given to influence an election for Insurance Commissioner, but excludes expenses for social occasions for public servants. It also specifies that simply being a member of a regulated entity or owning a small percentage of stock does not automatically make someone a "covered person" unless they are acting in a representative capacity. This act is set to take effect on June 30, 2026.

Government Affairs

https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB2918.xml