20 Miss. Code R. § 101-600-607.00
Reimbursing Political Subdivisions may execute a Surety Bond in lieu of establishing a revolving fund as provided in Section 71-5-359(2)(f) of the Law. The bond shall be executed annually, and shall be for less than two percent (2%) of the covered wages paid during the next preceding year. This bond shall be submitted to the Agency for approval. Failure to submit an approved renewal bond in the allotted time will automatically place the political subdivision under the revolving fund requirement of the Law. Any Surety Bond approved under this regulation shall remain effective according to its terms regardless of the continuation of a contractual relationship between the Political Subdivision and any company providing unemployment insurance services to it.
20 Miss. Code. R. § 101-600-607.00