The commission is further authorized, in its discretion, to obtain and pay the premium on all risk, ground and flight coverage for physical loss or damage coverage upon any aircraft owned by or under the control of the commission.
However, nothing contained in this subsection shall in any way apply to an air carrier operating by authority of a certificate or certificates of public convenience and necessity issued by the Civil Aeronautics Board or any other federal agency authorized to issue such certificates.
Miss. Code § 61-1-13