Title 22, Insurance
0 chapters · 2,651 sections in this title.
La. Rev. Stat. § 22:369.1 Reinstatement of license
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§369.1. Reinstatement of license A. A vehicle mechanical breakdown insurer whose license has been suspended for failure to pay the annual renewal fee required by R.S. 22:362 shall have his license reinstated if the annual renewal fee is paid within ninety days of the date of susp…
La. Rev. Stat. § 22:37 Discrimination prohibited; health insurance coverage; district attorney's office retirees
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§37. Discrimination prohibited; health insurance coverage; district attorney's office retirees A. No health insurance issuer shall refuse to accept for enrollment any individual formerly employed by a district attorney's office in this state when all of the following conditions a…
La. Rev. Stat. § 22:370 Inspection
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§370. Inspection After furnishing fourteen days written notice, the commissioner or any representative may inspect the records and reserves of any insurer licensed under this Subpart. The reasonable expense for inspection of records not available in Louisiana shall be borne by th…
La. Rev. Stat. § 22:371 Cease and desist order; penalty for violation
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§371. Cease and desist order; penalty for violation A. If the commissioner should determine that the provisions of this Subpart have been violated, the commissioner shall, in addition to the authority to revoke or suspend a license as provided in R.S. 22: 369, have the authority …
La. Rev. Stat. § 22:372 Rules and regulations
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§372. Rules and regulations The commissioner may adopt such administrative rules as are necessary to implement the provisions of this Subpart. Added by Acts 1978, No. 520, §1, eff. July 12, 1978; Redesignated from R.S. 22:1811 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:373 Scope and limitations
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§373. Scope and limitations A. It is not the purpose of this Subpart to alter or diminish any right, privilege or authority granted to any insurance company under any other part or section of this Title. B. All vehicle mechanical breakdown insurers operating pursuant to a license…
La. Rev. Stat. § 22:38 Redesignated as R.S
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§38. Redesignated as R.S. 22:67 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:381 Definitions
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§381. Definitions As used in this Subpart: (1) "Commissioner" means the commissioner of insurance of the state of Louisiana. (2) "Property" means all classes of movable or immovable property recognized under the laws of this state. (3) "Person" means any individual, company, insu…
La. Rev. Stat. § 22:382 License required of property residual value insurer; notice of material change required
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§382. License required of property residual value insurer; notice of material change required A. No person shall act as or attempt to act as a property residual value insurer unless licensed to do so by the commissioner. Each application shall be submitted to the commissioner alo…
La. Rev. Stat. § 22:383 Exceptions
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§383. Exceptions Nothing in this Subpart shall have any effect upon contracts of casualty or property insurance issued on property in this state. Added by Acts 1981, No. 472, §1, eff. July 19, 1981; Redesignated from R.S. 22:1902 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:384 Qualifications
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§384. Qualifications The commissioner shall not license a property residual value insurer unless all of the following conditions are met: (1) Applicant shall be solvent. (2) Applicant shall furnish such proof as necessary to the commissioner that the directors and management of t…
La. Rev. Stat. § 22:385 Deposit or surety
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§385. Deposit or surety A. To assure faithful performance of its obligations to policyholders, every property residual value insurer shall, prior to the issuance of a license, deposit with or for the benefit of the insurance commissioner, securities which, at all times, shall hav…
La. Rev. Stat. § 22:386 Annual reports
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§386. Annual reports By June first of each year, every property residual value insurer shall, file with the commissioner an audited financial statement for the immediately preceding year ending December thirty-first. The financial statement shall be audited by a certified public …
La. Rev. Stat. § 22:387 Reserves
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§387. Reserves Each property residual value insurer shall maintain loss reserves in such amounts as the commissioner deems sufficient. Added by Acts 1981, No. 472, §1, eff. July 19, 1981; Redesignated from R.S. 22:1906 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:388 Contracts not in compliance
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§388. Contracts not in compliance Any property residual value insurance policy issued in violation of any provisions of this Subpart shall be an enforceable and valid contract unless otherwise invalid. Added by Acts 1981, No. 472, §1, eff. July 19, 1981; Redesignated from R.S. 22…
La. Rev. Stat. § 22:388.1 Filing of contracts
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§388.1. Filing of contracts No property residual value insurance policy or application form, where written application is required and is to be attached to the policy, or any rider or endorsement of such a contract shall be issued, delivered, or used unless it has been filed with…
La. Rev. Stat. § 22:389 Revocation or suspension of license; fine
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§389. Revocation or suspension of license; fine A. The commissioner may levy a fine not to exceed one thousand dollars per violation or revoke or suspend any license required by this Subpart in accordance and compliance with R.S. 49:977.3 for any of the following: (1) A judgment …
La. Rev. Stat. § 22:389.1 Reinstatement of license
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§389.1. Reinstatement of license A. A property residual value insurer whose license has been suspended for failure to pay the annual renewal fee required by R.S. 22:382 shall have his license reinstated if the annual renewal fee is paid within ninety days of the date of suspensio…
La. Rev. Stat. § 22:39 Redesignated as R.S
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§39. Redesignated as R.S. 22:68 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:390 Inspection
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§390. Inspection After furnishing fourteen days written notice, the commissioner or his representative may inspect the records and reserves of any insurer licensed under this Subpart. The reasonable expense for inspection of records not available in Louisiana shall be borne by th…
La. Rev. Stat. § 22:391 Cease and desist order; penalty for violation
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§391. Cease and desist order; penalty for violation A. If the commissioner determines that the provisions of this Subpart have been violated, he shall, in addition to the authority to revoke or suspend a license as provided in R.S. 22:389, have the authority to issue an order req…
La. Rev. Stat. § 22:392 Rules and regulations
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§392. Rules and regulations The commissioner may adopt such administrative rules and regulations as are necessary to implement the provisions of this Subpart. Added by Acts 1981, No. 472, §1, eff. July 19, 1981; Redesignated from R.S. 22:1911 by Acts 2008, No. 415, §1, eff. Jan. …
La. Rev. Stat. § 22:393 Scope and limitations
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§393. Scope and limitations A. Nothing in this Subpart shall alter or diminish any right, privilege, or authority granted to any insurance company under any other provisions of this Title. B. All property residual value insurers operating pursuant to a license as required by this…
La. Rev. Stat. § 22:394 Repealed by Acts 2008, No
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§394. Repealed by Acts 2008, No. 416, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:395 Repealed by Acts 2008, No
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§395. Repealed by Acts 2008, No. 416, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:396 Repealed by Acts 2008, No
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§396. Repealed by Acts 2008, No. 416, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:397 Repealed by Acts 2008, No
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§397. Repealed by Acts 2008, No. 416, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:4 Redesignated as R.S
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§4. Redesignated as R.S. 22:12 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:40 Redesignated as R.S
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§40. Redesignated as R.S. 22:69 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:401 Title; purpose
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§401. Title; purpose A. This Subpart may be cited as the "Nonprofit Risk Indemnification Trust Act." B. The purpose of this Subpart is to authorize the establishment of trust funds for the purpose of indemnifying nonprofit beneficiary organizations and their officers, directors, …
La. Rev. Stat. § 22:402 Establishment upon approval of commissioner
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§402. Establishment upon approval of commissioner No trust fund with the purpose of indemnifying multiple nonprofit beneficiary organizations shall be established without the prior approval of the commissioner of insurance. The commissioner shall withhold approval of any trust fu…
La. Rev. Stat. § 22:403 Eligibility
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§403. Eligibility No organization, corporation, agency, or program shall be a beneficiary for any trust fund established hereunder unless it is exempt from taxation under Section 501(c)(3) of the Internal Revenue Code of 1954, as amended through December 30, 1985. Acts 1986, No. …
La. Rev. Stat. § 22:404 Limitation
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§404. Limitation A. No trust fund established hereunder shall indemnify any beneficiary for property loss, liabilities incurred under the workers' compensation act, or for benefits provided to employees pursuant to any medical, dental, life, or disability income protection plan. …
La. Rev. Stat. § 22:405 Bylaws and plan of operation benefits
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§405. Bylaws and plan of operation benefits Every trust fund shall establish in its bylaws and plan of operation a schedule of benefits, to be approved by the commissioner, governing the indemnification of beneficiaries of the trust. The schedule of benefits shall include all con…
La. Rev. Stat. § 22:406 Written indemnification agreement
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§406. Written indemnification agreement Every trust fund established under this Subpart shall provide each of its beneficiaries with a written indemnification agreement specifying the rights and obligations of the trust fund and the beneficiary under the agreement. Each form of i…
La. Rev. Stat. § 22:407 Contributions to fund operations
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§407. Contributions to fund operations The trust fund shall establish contributions required of beneficiaries necessary to fund the operations of the fund. All contribution schedules shall be filed with and approved by the commissioner prior to use. Contributions shall be based o…
La. Rev. Stat. § 22:408 Pooling prohibited
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§408. Pooling prohibited No trust fund shall enter into an agreement with any other trust fund whereby the risks assumed by each are pooled or shared. Acts 1986, No. 574, §2; Redesignated from R.S. 22:2048 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:409 Board of trustees; terms; removal; meetings; salary
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§409. Board of trustees; terms; removal; meetings; salary A. Every trust fund shall be governed by a board of no fewer than five trustees. The initial trustees need not be appointed or elected by the beneficiaries of the trust fund. During the second year following the creation o…
La. Rev. Stat. § 22:41 para.) eff
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§41(intro. para.) eff. until July 1, 2026. See Acts 2025, No. 182. §41. Policyholder bill of rights The following items exist in Louisiana statutes and shall serve as standards for a policyholder bill of rights and do not create additional causes of actions or further penalties n…
La. Rev. Stat. § 22:41.1 Notification of changes in policy provisions at renewal; penalties
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§41.1. Notification of changes in policy provisions at renewal; penalties Notwithstanding any other provision of law, insurers shall provide each policyholder with a written notification outlining any reduction in coverage in policy provisions at renewal. Any insurer that fails t…
La. Rev. Stat. § 22:41.2 Submission of contact information
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§41.2. Submission of contact information A. Every person licensed by the commissioner shall provide accurate contact information to the commissioner and shall annually inform the commissioner by electronic means of the name, mailing address, phone number, and electronic mail addr…
La. Rev. Stat. § 22:41.3 Requirements for officers and directors of domestic regulated entities; exemptions
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§41.3. Requirements for officers and directors of domestic regulated entities; exemptions A. For purposes of this Section, the following definitions apply: (1) "Director" means a person designated in the articles of incorporation, bylaws, or other organizational documents as a di…
La. Rev. Stat. § 22:410 Trustees bylaws and plan of operation
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§410. Trustees bylaws and plan of operation The trustees of each trust fund authorized shall cause to be adopted a set of bylaws and plan of operation which shall govern the operation of the trust fund. All bylaws and plans of operation or amendments to them are subject to prior …
La. Rev. Stat. § 22:411 Annual reported financial statement
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§411. Annual reported financial statement Every authorized trust fund shall, by June first of every year, file with the commissioner a financial statement for the previous year's operations. The financial statement shall include the opinion of a licensed certified public accounta…
La. Rev. Stat. § 22:412 Assets
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§412. Assets Every authorized trust fund shall have and maintain financial assets sufficient to satisfy all current and future financial obligations and responsibilities to beneficiaries. The commissioner shall adopt rules establishing minimum financial standards for authorized t…
La. Rev. Stat. § 22:413 Contracts with risk management service providers
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§413. Contracts with risk management service providers Authorized trust funds may enter into contracts with risk management service providers, actuarial consultants, or other vendors as are necessary to ensure the effective and efficient operation of such trust funds. Fees paid t…
La. Rev. Stat. § 22:414 Coinsurance and reinsurance
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§414. Coinsurance and reinsurance Authorized trust funds may insure or reinsure their obligations and liabilities with insurance companies authorized to do business in Louisiana or with companies similarly authorized in any other state of the United States. Acts 1986, No. 574, §2…
La. Rev. Stat. § 22:415 Cause of action restricted
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§415. Cause of action restricted No beneficiary shall have any cause of action against any other beneficiary arising solely out of the insolvency or inability of the trust fund to meet its obligations. Acts 1986, No. 574, §2; Redesignated from R.S. 22:2055 by Acts 2008, No. 415, …
La. Rev. Stat. § 22:416 Commissioner's authority to examine
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§416. Commissioner's authority to examine The commissioner may examine authorized trust funds to the same extent and with the same purpose as is provided, with respect to insurance companies. Acts 1986, No. 574, §2; Redesignated from R.S. 22:2056 by Acts 2008, No. 415, §1, eff. J…
La. Rev. Stat. § 22:417 Deposit
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§417. Deposit As a condition of authorization, every trust fund shall deposit with the commissioner security of cash, bonds, or evidences of deposit in a licensed insured financial institution of a value equal to five hundred thousand dollars. In the event that a trust fund fails…