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0 chapters · 1,747 sections in this title.
La. Rev. Stat. § 22:691.5 Acquisitions involving insurers not otherwise covered
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§691.5. Acquisitions involving insurers not otherwise covered A. Definitions. The following definitions shall apply for the purposes of this Section only: (1) "Acquisition" means any agreement, arrangement, or activity the consummation of which results in a person acquiring direc…
La. Rev. Stat. § 22:691.51 Purpose and scope
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§691.51. Purpose and scope A. The purpose of this Subpart is to: (1) Provide the commissioner a summary of an insurer or insurance group's corporate governance structure, policies, and practices to permit the commissioner to gain and maintain an understanding of the insurer's cor…
La. Rev. Stat. § 22:691.52 Definitions
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§691.52. Definitions For purposes of this Subpart: (1) "Corporate governance annual disclosure" or "CGAD" means a confidential report filed by the insurer or insurance group compiled in accordance with the requirements of this Subpart. (2) "Insurance group" means those insurers a…
La. Rev. Stat. § 22:691.53 Disclosure requirement
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§691.53. Disclosure requirement A. An insurer, or the insurance group of which the insurer is a member, shall, no later than June first of each calendar year, submit to the commissioner a corporate governance annual disclosure (CGAD) that contains the information specified in R.S…
La. Rev. Stat. § 22:691.54 Rules and regulations
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§691.54. Rules and regulations Pursuant to the Administrative Procedure Act and this Title, the commissioner may promulgate rules, regulations, and orders necessary to carry out the provisions of this Subpart. Acts 2015, No. 304, §1, eff. Jan. 1, 2016.
La. Rev. Stat. § 22:691.55 Contents of corporate governance annual disclosure
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§691.55. Contents of corporate governance annual disclosure A. The insurer or insurance group shall have discretion over the responses to the CGAD inquiries; however, the CGAD shall contain the material information necessary to permit the commissioner to gain an understanding of …
La. Rev. Stat. § 22:691.56 Confidentiality
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§691.56. Confidentiality A. Documents, materials, or other information, including the CGAD, in the possession of or control of the commissioner that are obtained by, created by, or disclosed to the commissioner or any other person pursuant to this Subpart are recognized by this s…
La. Rev. Stat. § 22:691.57 NAIC and third-party consultants
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§691.57. NAIC and third-party consultants A. The commissioner may retain, at the insurer's expense, third-party consultants, including attorneys, actuaries, accountants, and other experts not otherwise a part of the commissioner's staff, as may be reasonably necessary to assist t…
La. Rev. Stat. § 22:691.58 Sanctions
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§691.58. Sanctions Any insurer failing, without just cause, to timely file the CGAD as required by this Subpart shall be required, after notice and an opportunity to be heard, to pay a penalty of one hundred dollars for each day's delay, to be recovered by the commissioner and th…
La. Rev. Stat. § 22:691.6 Registration of insurers
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§691.6. Registration of insurers A. Registration. (1) Every insurer which is authorized to do business in this state and which is a member of an insurance holding company system shall register with the commissioner, except a foreign insurer subject to registration requirements an…
La. Rev. Stat. § 22:691.7 Standards and management of an insurer within an insurance holding company
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§691.7. Standards and management of an insurer within an insurance holding company system A. Transactions within an insurance holding company system. (1) Transactions within an insurance holding company system to which an insurer subject to registration is a party shall be subjec…
La. Rev. Stat. § 22:691.8 Examination
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§691.8. Examination A. Power of commissioner. Subject to the limitation contained in this Section and in addition to the powers which the commissioner has under this Code relating to the examination of insurers, the commissioner shall have the power to examine any insurer registe…
La. Rev. Stat. § 22:691.9 Supervisory colleges
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§691.9. Supervisory colleges A. Power of commissioner. With respect to any insurer registered under R.S. 22:691.6, and in accordance with Subsection C of this Section, the commissioner shall also have the power to participate in a supervisory college for any domestic insurer that…
La. Rev. Stat. § 22:691.9.1 Group-wide supervision of internationally active insurance groups
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§691.9.1. Group-wide supervision of internationally active insurance groups A. The commissioner may act as the group-wide supervisor for any internationally active insurance group pursuant to this Section. An insurance holding company system that does not otherwise qualify as an …
La. Rev. Stat. § 22:70 Prior approval required before a domestic insurer may apply for admission to another state or country
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§70. Prior approval required before a domestic insurer may apply for admission to another state or country No domestic insurer may apply for admission to another state or country without first having obtained the approval of the commissioner of insurance of the state of Louisiana…
La. Rev. Stat. § 22:71 Conversion requirements
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§71. Conversion requirements No domestic life insurer may convert to a type of insurer having greater insuring power without meeting the full capital, surplus, and deposit requirements of the type insurer to which it desires to convert. Acts 1958, No. 125. Amended by Acts 1960, N…
La. Rev. Stat. § 22:72 Stock and mutual conversions
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§72. Stock and mutual conversions A. No domestic insurer may convert from a stock to a mutual, or from a mutual to a stock insurer, or from any type insurer to any other type insurer, except as provided in R.S. 22:71 unless a plan of conversion is submitted to and approved by the…
La. Rev. Stat. § 22:73 Order of dissolution
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§73. Order of dissolution A. If the insurer against whom the petition for liquidation is filed be a corporation and the petition prays for dissolution of such insurer, the court shall have jurisdiction either before or after final liquidation of the property, business, and affair…
La. Rev. Stat. § 22:731 Administrative supervision; commissioner
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§731. Administrative supervision; commissioner A. An insurer shall be subject to administrative supervision by the commissioner if upon examination or at any other time it appears in the discretion of the commissioner that: (1) The condition of the insurer renders the continuance…
La. Rev. Stat. § 22:732 Confidentiality of certain proceedings and records; immunity of certain staff
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§732. Confidentiality of certain proceedings and records; immunity of certain staff A. Notwithstanding any other provision of law, all proceedings, hearings, notices, correspondence, reports, and other information in the possession of the commissioner or the department of insuran…
La. Rev. Stat. § 22:733 Prohibited acts during period of supervision
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§733. Prohibited acts during period of supervision During the period of administrative supervision, the commissioner or his designee shall serve as the administrative supervisor of the insurer. The commissioner may require that the insurer not do any of the following during the p…
La. Rev. Stat. § 22:734 Review and stay of action; supervision
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§734. Review and stay of action; supervision During the period of supervision, the insurer may contest an action taken or proposed to be taken by the supervisor, specifying the manner wherein the action being complained of would not result in improving the condition of the insure…
La. Rev. Stat. § 22:735 Administrative election of proceedings
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§735. Administrative election of proceedings Nothing contained in this Subpart shall preclude the commissioner from initiating judicial proceedings in conservation, rehabilitation, or liquidation proceedings or other delinquency proceedings, however designated under the laws of t…
La. Rev. Stat. § 22:736 Administrative rules
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§736. Administrative rules The commissioner may adopt reasonable rules, including fines and penalties for violations of R.S. 22:733, necessary for the implementation of the provisions herein, pursuant to the Administrative Procedure Act. Acts 1991, No. 997, §1; Redesignated from …
La. Rev. Stat. § 22:737 Expenses of supervision; payment by insurer
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§737. Expenses of supervision; payment by insurer A. All expenses incurred by the commissioner in conducting an administrative supervision shall be paid by the insurer being supervised. An insurer may contest the reasonableness of the amount of the expenses billed to it by applyi…
La. Rev. Stat. § 22:74 Insurers prohibited from engaging in other businesses
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§74. Insurers prohibited from engaging in other businesses No domestic insurer shall deal or trade in buying or selling goods, wares, or merchandise except articles insured by it on which losses are claimed and except in replacing, rebuilding, or repairing insured property as pro…
La. Rev. Stat. § 22:75 Change of state of domicile of admitted insurer; conversion to foreign insurer; effects of redomestication
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§75. Change of state of domicile of admitted insurer; conversion to foreign insurer; effects of redomestication A. Any insurer which is organized under the laws of any other state and is admitted to do business in this state for the purpose of writing insurance may, upon approval…
La. Rev. Stat. § 22:751 Commissioner of insurance to make valuation
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§751. Commissioner of insurance to make valuation A.(1)(a) The commissioner shall annually value, or cause to be valued, the reserve liabilities, hereinafter called "reserves", for all outstanding life insurance policies and annuity and pure endowment contracts of every life insu…
La. Rev. Stat. § 22:752 Actuarial opinion reserves
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§752. Actuarial opinion reserves A. Prior to the operative date of the valuation manual, each life insurance company doing business in this state shall annually submit the opinion of a qualified actuary as to whether the reserves and related actuarial items held in support of the…
La. Rev. Stat. § 22:753 Policies under standard valuation law
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§753. Policies under standard valuation law A.(1) The mortality, interest, and other standards specified in R.S. 22:751 shall apply to policies and contracts issued in the United States or its territories except those issued subject to the standard non-forfeiture law as set forth…
La. Rev. Stat. § 22:753.1 Single-state exemption
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§753.1. Single-state exemption A. The commissioner may exempt specific product forms or product lines of a domestic company that is authorized and doing business only in this state from the requirements of R.S. 22:753(C) provided both of the following occur: (1) The commissioner …
La. Rev. Stat. § 22:754 Dividends; payments limited when reserve deficient
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§754. Dividends; payments limited when reserve deficient A. Payments in the form of dividends or otherwise shall not be made to its stockholders by any domestic life insurer, unless its assets exceed, to the amount of such payment, the amount of its paid-up capital stock and all …
La. Rev. Stat. § 22:755 Penalty; improper payment of dividends
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§755. Penalty; improper payment of dividends Any officer or director of any insurer who votes or assents to any payment, either to stockholders or policyholders, in violation of any of the provisions of R.S. 22:754 shall forfeit to the state the sum of five thousand dollars, to b…
La. Rev. Stat. § 22:76 Prior approval required for merger of domestic insurer
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§76. Prior approval required for merger of domestic insurer No domestic insurer shall merge with another person without the prior approval of the commissioner, who may grant such approval upon written request of a domestic insurer. The request shall include the articles or plan o…
La. Rev. Stat. § 22:761 Unearned premium reserve
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§761. Unearned premium reserve A. With reference to insurance against loss or damage to property, except as provided in R.S. 22:763, and with reference to all general casualty insurance, health and accident insurance except as provided in R.S. 22:764, and surety insurance, every …
La. Rev. Stat. § 22:762 Restrictions on maximum and annual premiums written
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§762. Restrictions on maximum and annual premiums written A. Whenever the commissioner has reason to believe that the financial condition of an insurer endangers the interests of its policyholders and the insurer's ratio of actual or projected annual net premiums to current surpl…
La. Rev. Stat. § 22:763 Reserve for marine and transportation (inland marine) insurance
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§763. Reserve for marine and transportation (inland marine) insurance In the case of policies of marine or inland navigation or transportation insurance the unearned premium reserve, to be charged as a liability shall be fifty percent of the amount of the premiums upon risks cove…
La. Rev. Stat. § 22:764 Reserves--noncancellable health and accident insurance
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§764. Reserves--noncancellable health and accident insurance A. The legal minimum standard for computing the active life reserve, including the unearned premium reserve, of noncancellable health and accident policies shall be based on Conference Modification of Class III Disabili…
La. Rev. Stat. § 22:765 Loss records
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§765. Loss records Every insurer shall maintain a complete and itemized record showing all losses and claims as to which it has received notice, and all notices received of the occurrence of any event which may result in a loss. Acts 1958, No. 125; Redesignated from R.S. 22:894 b…
La. Rev. Stat. § 22:766 Loss reserves
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§766. Loss reserves The loss reserves of every insurer shall be at least equal to the aggregate estimated amounts due or to become due on account of all losses or claims of which the insurer has received notice, including the estimated liability arising out of the occurrence of a…
La. Rev. Stat. § 22:767 Schedule of experience
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§767. Schedule of experience Any insurer transacting any liability or workers' compensation insurances shall include in its annual statement filed with the commissioner of insurance, a schedule of its experience thereunder in such form as the commissioner of insurance may prescri…
La. Rev. Stat. § 22:768 Special reserve fund; title insurance
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§768. Special reserve fund; title insurance A. Each title insurer shall annually apportion to a special reserve fund an amount determined by applying the rate of twenty-five cents for each one thousand dollars of net increase of insurance it has in force at the end of such year. …
La. Rev. Stat. § 22:769 Increased reserves
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§769. Increased reserves A. If the commissioner of insurance determines that an insurer's unearned premium reserves, however computed, are inadequate, he may require the insurer to compute such reserves or any part thereof according to such other method or methods as are prescrib…
La. Rev. Stat. § 22:770 "Loss payments" and "loss expense payments" defined
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§770. "Loss payments" and "loss expense payments" defined "Loss payments" and "loss expense payments" as used with reference to liability and workers' compensation insurances shall include all payments to claimants, payments for medical and surgical attendance, legal expenses, sa…
La. Rev. Stat. § 22:771 Statement of actuarial opinion
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§771. Statement of actuarial opinion A. Every property and casualty insurance company doing business in this state, unless otherwise exempted by the domiciliary commissioner, shall annually submit the opinion of a qualified actuary appointed by the company entitled "statement of …
La. Rev. Stat. § 22:781 Separate accounts and contracts issued in connection therewith
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§781. Separate accounts and contracts issued in connection therewith A. Any domestic life insurance company may establish one or more separate accounts, and may allocate to such separate account or accounts any amounts paid to or retained by the company which are to be applied un…
La. Rev. Stat. § 22:786 Minimum standard for accident and health insurance contracts
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§786. Minimum standard for accident and health insurance contracts For accident and health insurance contracts issued on or after the operative date of the valuation manual, the standard prescribed in the valuation manual is the minimum standard of valuation required under R.S. 2…
La. Rev. Stat. § 22:791 Exemption from franchise or capital stock tax
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§791. Exemption from franchise or capital stock tax No insurer paying the taxes levied under this Part shall be liable for any franchise or capital stock tax. Acts 1958, No. 125; Redesignated from R.S. 22:1069 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 503, §1.
La. Rev. Stat. § 22:792 Annual reports
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§792. Annual reports Each insurer issuing such contracts, shall, on or before the first day of March of each year, render to the commissioner of insurance, a report signed by an officer of the insurer, or if an alien insurer, by its United States resident manager, or other office…
La. Rev. Stat. § 22:793 Investigation and enforcement by commissioner of insurance
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§793. Investigation and enforcement by commissioner of insurance The commissioner of insurance shall have authority to review and examine any sworn statements or accounts that may be rendered or furnished in pursuance of the provisions of this Part; and he shall have authority to…
