Title 22, Insurance
0 chapters · 2,651 sections in this title.
La. Rev. Stat. § 22:2005.1 Compliance with certain federal provisions
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§ 2005.1. Compliance with certain federal provisions A. The provisions of this Section apply in accordance with Title II of the federal Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub.L. 111-203 with respect to each insurance company that is a covered financial com…
La. Rev. Stat. § 22:2006 Injunction
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§2006. Injunction The court shall have jurisdiction over matters brought by or against the Department of Insurance or the commissioner of insurance, at any time after the filing of the petition, to issue an injunction restraining such insurer and its officers, agents, directors, …
La. Rev. Stat. § 22:2007 Cooperation of officers, owners, and employees; civil and criminal penalties
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§2007. Cooperation of officers, owners, and employees; civil and criminal penalties A. Any officer, manager, director, trustee, owner, employee, or agent of any insurer, or any other persons with authority over or in charge of any segment of the insurer's affairs, shall cooperate…
La. Rev. Stat. § 22:2007.1 Redesignated as R.S
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§2007.1. Redesignated as R.S. 22:251 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2008 Order of rehabilitation or liquidation
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§2008. Order of rehabilitation or liquidation A. After a full hearing, which shall be held by the court without delay, the court shall enter an order either dismissing the petition or finding that sufficient cause exists for rehabilitation or liquidation and directing the commiss…
La. Rev. Stat. § 22:2009 Duties of commissioner of insurance as rehabilitator; termination
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§2009. Duties of commissioner of insurance as rehabilitator; termination A. Upon the entry of an order directing rehabilitation, the commissioner of insurance shall immediately proceed to conduct the business of the insurer and take such steps towards removal of the causes and co…
La. Rev. Stat. § 22:201 Officers and directors
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§201. Officers and directors A. The board of directors shall elect a president, a vice-president, a secretary, and a treasurer, all of whom, except the treasurer, shall be members of the board of directors. Any two of these officers may be combined in one person and should the of…
La. Rev. Stat. § 22:2010 Duties of commissioner of insurance as liquidator; sales; notice to creditors; reinsurance
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§2010. Duties of commissioner of insurance as liquidator; sales; notice to creditors; reinsurance A. Upon the entry of an order directing liquidation, the commissioner of insurance shall immediately proceed to liquidate the property, business and affairs of the insurer. He is her…
La. Rev. Stat. § 22:2011 Premiums due; effect of injunction, or order of rehabilitation or liquidation
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§2011. Premiums due; effect of injunction, or order of rehabilitation or liquidation A. If an insurer is enjoined from transacting any insurance business or from disposing of its property under R.S. 22:2006 or issued an order directing rehabilitation or liquidation under R.S. 22:…
La. Rev. Stat. § 22:2012 Unearned premium; limitation of claims by insolvent insurers
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§2012. Unearned premium; limitation of claims by insolvent insurers A. Any claim of an insolvent insurer against an insured or against the producer through whom a policy was written concerning any policy of insurance issued or delivered in this state shall be subject to the follo…
La. Rev. Stat. § 22:2013 Rights and liabilities of creditors fixed upon liquidation
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§2013. Rights and liabilities of creditors fixed upon liquidation A. The rights and liabilities of the insurer and of its creditors, except those holding contingent claims, and of its policyholders, stockholders, or members and of all other persons interested in its assets shall,…
La. Rev. Stat. § 22:2013.1 Administration of large deductible policies and insured collateral
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§2013.1. Administration of large deductible policies and insured collateral A. This Section shall apply to workers' compensation large deductible policies issued by an insurer subject to delinquency proceedings pursuant to this Chapter; however, this Section shall not apply to fi…
La. Rev. Stat. § 22:2014 Deposit of monies collected
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§2014. Deposit of monies collected The monies collected by the commissioner of insurance in a proceeding under this Chapter shall be, from time to time, deposited in one or more state or national banks, savings banks, trust companies, or savings and loan associations chartered to…
La. Rev. Stat. § 22:2015 Investment in securities
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§2015. Investment in securities Notwithstanding any law to the contrary, the commissioner of insurance may invest any monies held in any proceedings under this Chapter in the following securities: (1) Investments in or loans upon the security of general obligations of the governm…
La. Rev. Stat. § 22:2016 Borrowing on the pledge of assets
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§2016. Borrowing on the pledge of assets For the purpose of facilitating the rehabilitation, liquidation, conservation or dissolution provided for by this Chapter the commissioner of insurance may, subject to the approval of the court, borrow money and execute, acknowledge and de…
La. Rev. Stat. § 22:2016.1 Redesignated as R.S
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§2016.1. Redesignated as R.S. 22:261 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2017 Only commissioner of insurance may apply for appointment of receiver or liquidator
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§2017. Only commissioner of insurance may apply for appointment of receiver or liquidator No order, judgment, or decree enjoining, restraining, or interfering with the prosecution of the business of any insurer or for the appointment of a temporary or permanent receiver, rehabili…
La. Rev. Stat. § 22:2018 Appointment of assistants
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§2018. Appointment of assistants A. For the purpose of this Chapter, and in connection with proceedings involving only domestic insurers, the commissioner of insurance shall have the power to appoint one or more special deputies as his agent or agents and to employ such clerks, a…
La. Rev. Stat. § 22:2019 Exemption from filing fees
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§2019. Exemption from filing fees The commissioner of insurance shall not be required to pay any fee to any public officer for filing, recording, or in any manner authenticating any paper or instrument relating to any proceeding pursuant to this Chapter, nor for services rendered…
La. Rev. Stat. § 22:202 Policyholders' meetings
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§202. Policyholders' meetings A. Meetings of the policyholders shall be held at such times and places as the articles and bylaws may provide but the articles and bylaws shall provide for the manner of calling and the notice to be given of special meetings of the policyholders. Th…
La. Rev. Stat. § 22:2020 Prohibited and voidable transfer and liens
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§2020. Prohibited and voidable transfer and liens A. No insurer shall make any transfer of or create any lien upon any of its property with the intent of giving to or enabling any creditor or policyholder to obtain a greater percentage of this debt than any other creditor of the …
La. Rev. Stat. § 22:2021 Fraudulent transfers prior to petition
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§2021. Fraudulent transfers prior to petition A. Every transfer made or suffered and every obligation incurred by an insurer within one year prior to the filing of a successful petition for rehabilitation or liquidation pursuant to this Chapter is fraudulent as to then existing a…
La. Rev. Stat. § 22:2022 Fraudulent transfer after petition
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§2022. Fraudulent transfer after petition A. After a petition for rehabilitation has been filed, a transfer of any of the immovable property of the insurer made to a person acting in good faith shall be valid against the receiver if made for a present fair equivalent value; or, i…
La. Rev. Stat. § 22:2023 Voidable preferences and liens
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§2023. Voidable preferences and liens A.(1) A preference is a transfer of any of the property of an insurer to or for the benefit of a creditor, for or on account of an antecedent debt, made or suffered by the insurer within one year before the filing of a successful petition for…
La. Rev. Stat. § 22:2024 Claims of holders of void or voidable rights
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§2024. Claims of holders of void or voidable rights A. No claim of a creditor who has received or acquired a preference, lien, conveyance, transfer, assignment, or encumbrance voidable under this Chapter shall be allowed unless he surrenders the preference, lien, conveyance, tran…
La. Rev. Stat. § 22:2025 Priority of claims
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§2025. Priority of claims The priorities of distribution of general assets from the insurer's estate shall be as follows: (1) The commissioner's costs and expenses of administration and the claims handling expenses of the Insurance Guaranty Association, the Louisiana Life and Hea…
La. Rev. Stat. § 22:2026 Set-offs
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§2026. Set-offs A. In all cases of mutual debts or mutual credits between the insurer and another person, such credits and debts shall be set-off and only the balance shall be allowed or paid; however, no set-off shall be allowed in favor of any person when either of the followin…
La. Rev. Stat. § 22:2027 Time to file claims
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§2027. Time to file claims A. If upon the granting of an order of liquidation under this Chapter or at any time thereafter during the liquidation proceeding, the insurer shall not be clearly solvent, the court shall after such notice and hearing as it deems proper, make an order …
La. Rev. Stat. § 22:2028 Proof and allowance of claims
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§2028. Proof and allowance of claims A. A proof of claim shall consist of a statement under oath, in writing, signed by the claimant, setting forth the claim, the consideration therefor, and whether any, and if so, what securities are held therefor, and whether any, and if so, wh…
La. Rev. Stat. § 22:2029 Report for assessment
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§2029. Report for assessment Within three years from the date an order of rehabilitation or liquidation of a domestic mutual insurer or a domestic reciprocal insurer was filed in the office of the clerk of the court by which such order was made, the commissioner of insurance may …
La. Rev. Stat. § 22:203 Funds
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§203. Funds A. All funds of every association operating under this Subpart shall be deposited with one or more insured banks doing business in the state of Louisiana. Two separate funds shall be maintained by each association, one to be known and designated with the depository as…
La. Rev. Stat. § 22:2030 Levy of assessment
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§2030. Levy of assessment A. In the event of the entry of an order directing the commissioner of insurance to rehabilitate or liquidate any insurer which has issued assessable policies or contracts of insurance, the commissioner of insurance may, with leave of court, at any time …
La. Rev. Stat. § 22:2031 Order to pay assessment
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§2031. Order to pay assessment After levy of assessment as provided in R.S. 22:2030, upon the filing of a further detailed report by the commissioner of insurance, the court shall issue an order directing each member (if a mutual insurer), each subscriber (if a reciprocal insurer…
La. Rev. Stat. § 22:2032 Publication and transmittal of assessment order
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§2032. Publication and transmittal of assessment order The commissioner of insurance shall cause a notice of such assessment order setting forth a brief summary of the contents of such order to be both: (1) Published in such manner as shall be directed by the court. (2) Enclosed …
La. Rev. Stat. § 22:2033 Judgment upon the assessment
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§2033. Judgment upon the assessment A. On the return day of the order to show cause provided for in R.S. 22:2031 if the member or subscriber does not appear and serve verified objections upon the commissioner of insurance, the court shall make an order adjudging that such member …
La. Rev. Stat. § 22:2034 Distribution of assets; priorities; unpaid dividends
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§2034. Distribution of assets; priorities; unpaid dividends A. Within one hundred twenty days of a final determination of insolvency of an insurer by a court of competent jurisdiction of this state, the commissioner of insurance shall make application to the court for approval of…
La. Rev. Stat. § 22:2035 Grounds for conservation of assets of an authorized foreign or alien insurer or an unauthorized insurer writing business on a surplus line basis
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§2035. Grounds for conservation of assets of an authorized foreign or alien insurer or an unauthorized insurer writing business on a surplus line basis A. Whenever the property of a foreign or alien insurer authorized to do business in Louisiana or an unauthorized insurer writing…
La. Rev. Stat. § 22:2036 Provisions for conservation of assets of domestic company
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§2036. Provisions for conservation of assets of domestic company A. Upon the filing by the commissioner of insurance of a verified petition alleging that with respect to a domestic company, a condition exists that would justify a court order for proceedings under this Chapter, an…
La. Rev. Stat. § 22:2036.1 Redesignated as R.S
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§2036.1. Redesignated as R.S. 22:631 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2036.10 Redesignated as R.S
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§2036.10. Redesignated as R.S. 22:640 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2036.11 Redesignated as R.S
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§2036.11. Redesignated as R.S. 22:641 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2036.12 Redesignated as R.S
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§2036.12. Redesignated as R.S. 22:642 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2036.2 Redesignated as R.S
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§2036.2. Redesignated as R.S. 22:632 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2036.3 Redesignated as R.S
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§2036.3. Redesignated as R.S. 22:633 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2036.4 Redesignated as R.S
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§2036.4. Redesignated as R.S. 22:634 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2036.5 Redesignated as R.S
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§2036.5. Redesignated as R.S. 22:635 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2036.6 Redesignated as R.S
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§2036.6. Redesignated as R.S. 22:636 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2036.7 Redesignated as R.S
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§2036.7. Redesignated as R.S. 22:637 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2036.8 Redesignated as R.S
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§2036.8. Redesignated as R.S. 22:638 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2036.9 Redesignated as R.S
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§2036.9. Redesignated as R.S. 22:639 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.