Title 22, Insurance
0 chapters · 2,651 sections in this title.
La. Rev. Stat. § 22:228.8 Redesignated as R.S
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§228.8. Redesignated as R.S. 22:1013 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:229 Redesignated as R.S
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§229. Redesignated as R.S. 22:1096 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:229.1 Redesignated as R.S
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§229.1. Redesignated as R.S. 22:979 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:229.2 Redesignated as R.S
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§229.2. Redesignated as R.S. 22:1041 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:229.3 Redesignated as R.S
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§229.3. Redesignated as R.S. 22:1014 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2291 Louisiana Citizens Property Insurance Corporation; declaration and purpose; construction
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§2291. Louisiana Citizens Property Insurance Corporation; declaration and purpose; construction It is hereby declared by the Legislature of Louisiana that an adequate market for fire with extended coverage and vandalism and malicious mischief insurance and homeowners coverage is …
La. Rev. Stat. § 22:2292 Definitions; personal property; option to exclude
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§2292. Definitions; personal property; option to exclude A. As used in this Part, unless the context otherwise requires: (1) "Assessable insureds" means insureds who procure a policy of insurance for one or more subject lines of business in this state. (2) "Assessable insurers" m…
La. Rev. Stat. § 22:2293 Creation of the Louisiana Citizens Property Insurance Corporation
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§2293. Creation of the Louisiana Citizens Property Insurance Corporation A. There is created a nonprofit corporation to be known as the "Louisiana Citizens Property Insurance Corporation", which shall operate residual market insurance programs, designated as the Coastal Plan and …
La. Rev. Stat. § 22:2294 Board of directors of corporation
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§2294. Board of directors of corporation A. The governing body of the corporation shall be a board of directors which shall consist of the following members, who shall be representative of the state's population as near as practicable: (1) The commissioner of the Department of In…
La. Rev. Stat. § 22:2295 Coastal Plan and FAIR Plan; re-created and continued
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§2295. Coastal Plan and FAIR Plan; re-created and continued A. There is hereby re-created and continued the Louisiana Insurance Underwriting Plan (Coastal Plan), which beginning January 1, 2004, shall be available as an insurance program of the Louisiana Citizens Property Insuran…
La. Rev. Stat. § 22:2296 Immunity from liability
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§2296. Immunity from liability A. For any action taken in the performance of duties or responsibilities pursuant to this Chapter, there shall be no liability on the part of and no cause of action of any nature shall arise against any of the following: (1) The commissioner. (2) Th…
La. Rev. Stat. § 22:2297 Powers and duties of Louisiana Citizens Property Insurance Corporation
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§2297. Powers and duties of Louisiana Citizens Property Insurance Corporation A. The Louisiana Citizens Property Insurance Corporation shall operate insurance plans which shall function exclusively as residual market mechanisms to provide essential property insurance for resident…
La. Rev. Stat. § 22:2298 Plan of operation of Louisiana Citizens Property Insurance Corporation
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§2298. Plan of operation of Louisiana Citizens Property Insurance Corporation A.(1) A plan of operation adopted by the governing board of the Louisiana Citizens Property Insurance Corporation shall be filed with and approved by the Louisiana Senate Committee on Insurance and the …
La. Rev. Stat. § 22:2299 Functions of assessable insurers participating in the Coastal Plan
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§2299. Functions of assessable insurers participating in the Coastal Plan A. All assessable insurers shall participate in assessments of the Coastal Plan in the proportion that the net direct premium of such participant written in this state during the preceding calendar year bea…
La. Rev. Stat. § 22:23 Exclusive use of expirations
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§23. Exclusive use of expirations A.(1) Except as otherwise provided herein, for purposes of soliciting, selling, or negotiating the renewal or sale of insurance coverage, insurance products, or insurance services, an insurance producer shall have the exclusive use of expirations…
La. Rev. Stat. § 22:230 Redesignated as R.S
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§230. Redesignated as R.S. 22:990 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:230.1 Redesignated as R.S
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§230.1. Redesignated as R.S. 22:1042 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:230.2 Redesignated as R.S
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§230.2. Redesignated as R.S. 22:988 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:230.4 Redesignated as R.S
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§230.4. Redesignated as R.S. 22:1044 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:230.5 Redesignated as R.S
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§230.5. Redesignated as R.S. 22:1047 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:230.6 Redesignated as R.S
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§230.6. Redesignated as R.S. 22:1005 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:230.7 Redesignated as R.S
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§230.7. Redesignated as R.S. 22:1048 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:2300 Functions of insurers participating in the FAIR Plan
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§2300. Functions of insurers participating in the FAIR Plan A. All assessable insurers shall participate in assessments of the FAIR Plan in the proportion that the net direct premium of such participant written in this state during the preceding calendar years bears to the aggreg…
La. Rev. Stat. § 22:2301 Assessable insureds
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§2301. Assessable insureds A. All persons who procure one or more subject lines of business from an assessable insurer are subject to emergency assessment by the corporation, and are referred to collectively as "assessable insureds". B. When an emergency assessment is levied by t…
La. Rev. Stat. § 22:2302 Eligibility; application
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§2302. Eligibility; application A. Any person having an insurable interest in insurable property and who has been denied coverage by one or more insurers authorized to write property insurance in this state is entitled to apply to the corporation, directly or through a representa…
La. Rev. Stat. § 22:2303 Rates, rating plans, and rate rules applicable
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§2303. Rates, rating plans, and rate rules applicable A.(1) As residual markets, the plans made available by the Louisiana Citizens Property Insurance Corporation are not intended to offer rates competitive with the voluntary market. Rates for policies issued under the Coastal Pl…
La. Rev. Stat. § 22:2304 Reports of inspection
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§2304. Reports of inspection All reports of inspection performed by the corporation shall be made available to the assessable insurers participating in the Coastal Plan and the FAIR Plan, and the commissioner of insurance. An applicant or his representative shall be entitled to a…
La. Rev. Stat. § 22:2305 Annual and quarterly reports
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§2305. Annual and quarterly reports A. The corporation shall file with the commissioner of insurance annual and quarterly statements as required for authorized insurers pursuant to R.S. 22:571 and annual audited statements which shall summarize the transactions, conditions, opera…
La. Rev. Stat. § 22:2306 Examination of corporation
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§2306. Examination of corporation The commissioner of insurance shall make examinations of the Louisiana Citizens Property Insurance Corporation and the plans in the manner as provided by R.S. 22:1981 for examination of insurers. The expense of such examinations shall be borne an…
La. Rev. Stat. § 22:2307 Plan deficits; financing
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§2307. Plan deficits; financing A. In the event that the governing board of the Louisiana Citizens Property Insurance Corporation determines that a deficit exists in either the Coastal Plan or the FAIR Plan, the corporation may levy regular and emergency assessments for each affe…
La. Rev. Stat. § 22:2308 Louisiana Citizens Property Insurance Corporation not taxable
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§2308. Louisiana Citizens Property Insurance Corporation not taxable The corporation shall be considered a political instrumentality of the state, and shall be exempt from any corporate income tax. However, the corporation is not and shall not be deemed a department, unit, or age…
La. Rev. Stat. § 22:2309 Operation of the Coastal and FAIR Plans; requirements
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§2309. Operation of the Coastal and FAIR Plans; requirements The governing board of the corporation shall provide property insurance pursuant to this Chapter which shall include any property easily accessible by road for emergency vehicles. Acts 2004, No. 665, §1; Redesignated fr…
La. Rev. Stat. § 22:231 Mutual insurance holding companies
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§231. Mutual insurance holding companies A domestic mutual insurance company, upon approval of the commissioner, may reorganize by forming a mutual insurance holding company based upon a mutual plan or by merging its policyholders' membership interests into such a mutual insuranc…
La. Rev. Stat. § 22:2310 Prohibition against impairment of obligations
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§2310. Prohibition against impairment of obligations A. The state and any public instrumentality thereof and the Louisiana Legislature covenants and agrees with the corporation and the holders of the bonds that, as long as bonds or other indebtedness of the corporation remain out…
La. Rev. Stat. § 22:2311 Limitation on bankruptcy
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§2311. Limitation on bankruptcy A. Prior to the date that is two years and one day after which the corporation no longer has any bonds outstanding, the corporation is prohibited from filing and shall have no authority to file a voluntary petition under the Federal Bankruptcy Code…
La. Rev. Stat. § 22:2312 Severability
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§2312. Severability The provisions of this Chapter are severable. If any provision or item of this Chapter, or application thereof, is held invalid, such invalidity shall not affect other provisions, items, or applications of this Chapter which are to be given effect without the …
La. Rev. Stat. § 22:2313 Producers; authority to bind coverage
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§2313. Producers; authority to bind coverage A.(1) Every producer resident in this state, or a nonresident as provided in Paragraph (2) of this Subsection, and licensed to sell property and casualty insurance may sell insurance policies that are issued by the Louisiana Citizens P…
La. Rev. Stat. § 22:2314 Policy take-out program
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§2314. Policy take-out program A. The legislature created the Louisiana Citizens Property Insurance Corporation to operate insurance plans as a residual market for residential and commercial property. The legislature further intends that the corporation work toward the ultimate d…
La. Rev. Stat. § 22:2315 Adjusters
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§2315. Adjusters A. With respect to contracting with adjusters to adjust claims, the corporation shall give preference to adjusters and businesses engaged in the business of adjusting claims, who have been domiciled in Louisiana for a period of not less than two years, if the adj…
La. Rev. Stat. § 22:2316 Underwriting
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§2316. Underwriting With respect to contracting with service providers to underwrite insurance policies, the corporation shall give preference to service providers and businesses engaged in the business of underwriting insurance policies, who have underwriters domiciled in Louisi…
La. Rev. Stat. § 22:2317 Refund of certain assessments
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§2317. Refund of certain assessments At the time of issuance or annual renewal of a property insurance policy, each insurer shall include the following with the policy sent to each insured: (1) Information on the electronic link to the form designated by the Department of Revenue…
La. Rev. Stat. § 22:232 Applicability of demutualization provisions
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§232. Applicability of demutualization provisions R.S. 22:71 and 72 are applicable to a demutualization of a mutual insurance holding company which resulted from the reorganization of a domestic mutual insurance company reorganized under this Subpart as if it were a mutual insura…
La. Rev. Stat. § 22:232.1 Mutual insurance holding company plan of reorganization
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§232.1. Mutual insurance holding company plan of reorganization A. An insurer seeking to reorganize under R.S. 22:231 shall submit a proposed plan of reorganization to the commissioner. The plan shall include the following: (1) The establishment of a mutual insurance holding comp…
La. Rev. Stat. § 22:232.2 Incorporation of a mutual insurance holding company
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§232.2. Incorporation of a mutual insurance holding company A. A mutual insurance holding company or an intermediate holding company resulting from the reorganization of a domestic mutual insurance company under R.S. 22:231 shall be incorporated pursuant to Title 12 of the Louisi…
La. Rev. Stat. § 22:232.3 Merger of foreign mutual insurance company
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§232.3. Merger of foreign mutual insurance company A. Subject to the prior approval of the commissioner, and upon the approval of the appropriate regulatory body in its domiciliary state either prior to or contingent upon the approval of the commissioner, a foreign mutual insuran…
La. Rev. Stat. § 22:232.4 Capital stock of a reorganized insurance company
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§232.4. Capital stock of a reorganized insurance company A.(1) A mutual insurance holding company established pursuant to R.S. 22:231 shall at all times own a majority of the voting shares of the capital stock of insurance companies reorganized under R.S. 22:231. (2) As used in t…
La. Rev. Stat. § 22:232.5 Insurer's rehabilitation and liquidation
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§232.5. Insurer's rehabilitation and liquidation A mutual insurance holding company established pursuant to R.S. 22:231 is deemed to be an insurer subject to R.S. 22:73 and 96, Subpart H of this Part, R.S. 22:731 et seq., and Chapter 9 of this Title, R.S. 22:2001 et seq., and sha…
La. Rev. Stat. § 22:232.6 Applicability; membership interests
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§232.6. Applicability; membership interests A membership interest in a domestic mutual insurance holding company established under R.S. 22:231 shall not constitute a security as defined in Part X of Chapter 2 of Title 51 of the Louisiana Revised Statutes of 1950, the Louisiana Se…
La. Rev. Stat. § 22:232.7 Sale of stock
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§232.7. Sale of stock An intermediate holding company established and an insurance company reorganized pursuant to R.S. 22:231 may issue stock to any persons legally permitted to own stock, provided that the mutual insurance holding company at all times owns either directly or in…
La. Rev. Stat. § 22:232.8 Failure to give notice
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§232.8. Failure to give notice If the mutual insurance company complies substantially and in good faith with the notice requirements of R.S. 22:232.1, the mutual insurance company's failure to give any policyholder any required notice does not impair the validity of any action ta…