Title 22, Insurance

0 chapters · 2,651 sections in this title.

2,651 sectionsFiltered byTitle 22

La. Rev. Stat. § 22:535 Rules and regulations; promulgated by department
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§535. Rules and regulations; promulgated by department The department shall issue rules, regulations, and directives, in accordance with the Administrative Procedure Act to implement the provisions of this Subpart. Acts 1997, No. 1427, §1; Acts 1999, No. 192, §1, eff. June 9, 199…
La. Rev. Stat. § 22:536 Penalties; liabilities
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§536. Penalties; liabilities A. If the department determines that the title insurer or the title insurance producer or any other person has violated this Subpart, or any rule, regulation, or order promulgated thereunder, the department, pursuant to R.S. 22:2191 et seq., may order…
La. Rev. Stat. § 22:537 Limits of scope
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§537. Limits of scope Nothing contained in this Subpart shall be deemed to amend, supersede, or repeal any provision of R.S. 37:212 and 213. Acts 1997, No. 1427, §1; Redesignated from R.S. 22:2092.16 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:541 Redesignated as R.S
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§541. Redesignated as R.S. 22:281 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:542 Redesignated as R.S
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§542. Redesignated as R.S. 22:282 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:543 Redesignated as R.S
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§543. Redesignated as R.S. 22:283 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:544 Redesignated as R.S
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§544. Redesignated as R.S. 22:284 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:545 Redesignated as R.S
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§545. Redesignated as R.S. 22:285 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:546 Redesignated as R.S
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§546. Redesignated as R.S. 22:286 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:547 Redesignated as R.S
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§547. Redesignated as R.S. 22:287 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:548 Redesignated as R.S
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§548. Redesignated as R.S. 22:288 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:549 Redesignated as R.S
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§549. Redesignated as R.S. 22:289 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:550 Redesignated as R.S
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§550. Redesignated as R.S. 22:290 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:550.1 Purpose and short title
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§550.1. Purpose and short title The purpose of this Subpart is to regulate the formation and operation of domestic captive insurance companies within the state of Louisiana. This Subpart may be known and cited as the "Creating Holistic Options in Coverage for Enterprise and Self-…
La. Rev. Stat. § 22:550.10 Capital and surplus requirements
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§550.10. Capital and surplus requirements A. Prior to issuing policies of insurance or entering into any contracts of reinsurance, each pure captive insurance company shall possess and thereafter maintain unimpaired paid-in capital and surplus of not less than two hundred fifty t…
La. Rev. Stat. § 22:550.11 Deposit required of association captive insurance companies
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§550.11. Deposit required of association captive insurance companies Before receiving a certificate of authority, all association captive insurance companies shall deposit with the commissioner a safekeeping or trust receipt from a bank located in the state and doing business wit…
La. Rev. Stat. § 22:550.12 Suspension or revocation of certificate of authority; hearings
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§550.12. Suspension or revocation of certificate of authority; hearings A. The commissioner may refuse, suspend, or revoke the certificate of authority of a captive insurance company if, after an examination, the commissioner determines that the captive insurance company meets an…
La. Rev. Stat. § 22:550.13 Authorized and prohibited types of insurance
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§550.13. Authorized and prohibited types of insurance A. Except as otherwise provided in this Section, a captive insurance company licensed pursuant to this Subpart may transact any form of insurance classified in R.S. 22:47. B. A captive insurance company licensed pursuant to th…
La. Rev. Stat. § 22:550.14 Formation and meetings of board of directors; additional requirements to transact
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§550.14. Formation and meetings of board of directors; additional requirements to transact insurance A. The board of directors of a captive insurance company shall meet in accordance with the following standards: (1) The captive insurance company shall maintain its books and reco…
La. Rev. Stat. § 22:550.15 Payment of dividends
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§550.15. Payment of dividends A captive insurance company shall not pay dividends out of, or make any other distribution with respect to its capital or surplus, or both, unless the captive insurance company has obtained the prior approval of the commissioner to make such a paymen…
La. Rev. Stat. § 22:550.16 Investments; loan to parent or affiliated company in certain circumstances
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§550.16. Investments; loan to parent or affiliated company in certain circumstances A. Except as otherwise provided in this Section, an association captive insurance company shall comply with the requirements relating to domestic insurer investments as set forth in Subpart B-1 of…
La. Rev. Stat. § 22:550.17 Reinsurance; credit for reserves on risks or portions of risks in certain
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§550.17. Reinsurance; credit for reserves on risks or portions of risks in certain circumstances; plan for workers' compensation deemed reinsurance in certain circumstances A. A captive insurance company shall not provide reinsurance on risks ceded by any other insurer without pr…
La. Rev. Stat. § 22:550.18 Captive insurance company prohibited from joining or contributing to risk-sharing
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§550.18. Captive insurance company prohibited from joining or contributing to risk-sharing plan, risk pool, or insurance insolvency guaranty fund A. A captive insurance company shall not join or contribute financially to any risk-sharing plan, risk pool, or insurance insolvency g…
La. Rev. Stat. § 22:550.19 Prohibited acts regarding solicitation or sale
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§550.19. Prohibited acts regarding solicitation or sale A captive insurance company shall not engage in either of the following: (1) The solicitation or sale of insurance by an association captive insurance company to any person who is not eligible for membership in such associat…
La. Rev. Stat. § 22:550.2 Definitions
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§550.2. Definitions As used in this Subpart, unless the context otherwise requires, the following definitions apply: (1) "Affiliated company" means a company in the same corporate system as its parent or a member organization by virtue of common ownership, control, operation, or …
La. Rev. Stat. § 22:550.20 Prohibition on ownership by an insurance company
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§550.20. Prohibition on ownership by an insurance company A captive insurance company shall not do business in this state if an insurance company is directly or indirectly a member or owner of such captive insurance company, except when the members of the captive insurance compan…
La. Rev. Stat. § 22:550.21 Annual report of financial condition to commissioner; regulations designating
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§550.21. Annual report of financial condition to commissioner; regulations designating form; alternative date to file annual report Every captive insurance company licensed in this state shall file each of the following with the department: (1) Annually on or before March first, …
La. Rev. Stat. § 22:550.22 Examination by commissioner
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§550.22. Examination by commissioner A. If the commissioner determines it to be prudent, but not less frequently than once every five years, the commissioner shall cause an examination of each captive insurance company under the provisions of Chapter 8 of this Title, R.S. 22:1981…
La. Rev. Stat. § 22:550.23 Taxes on premiums and assessments
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§550.23. Taxes on premiums and assessments A. Each captive insurance company shall pay to the commissioner on or before March first of each year a tax at the rate of fifteen-hundredths of one percent on the direct premiums collected or contracted for on policies or contracts of i…
La. Rev. Stat. § 22:550.24 Rates
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§550.24. Rates A. Each captive insurance company shall file rates for property and casualty lines of insurance in accordance with Subpart O of Part IV of Chapter 4 of this Title, R.S. 22:1451 et seq., on an actuarially justified basis with the department and may use the rates for…
La. Rev. Stat. § 22:550.25 Policy forms
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§550.25. Policy forms A. A captive insurance company shall not issue, deliver, or use a policy form unless it has been filed with and approved by the commissioner. B. Every such filing shall be made not less than forty-five days in advance for any lines of insurance of any such i…
La. Rev. Stat. § 22:550.26 Conflict of interest
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§550.26. Conflict of interest Each captive insurance company shall adopt a conflict of interest policy whereby officers, directors, and key personnel annually file a conflict of interest disclosure statement with the board of directors. Acts 2008, No. 403, §1, eff. Jan. 1, 2009; …
La. Rev. Stat. § 22:550.27 Redomestication
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§550.27. Redomestication A. Any foreign or alien insurer that qualifies for licensure as a captive insurance company in this state may redomesticate to this state by complying with all of the requirements of R.S. 22:550.5(B). A redomesticating captive insurance company shall ensu…
La. Rev. Stat. § 22:550.28 Rules for controlled unaffiliated businesses
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§550.28. Rules for controlled unaffiliated businesses The commissioner may adopt rules establishing standards to ensure that a parent or its affiliated company is able to exercise control of the risk management function of any controlled unaffiliated business to be insured by a p…
La. Rev. Stat. § 22:550.29 Branch captive insurance companies
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§550.29. Branch captive insurance companies A. As used in this Section, unless the context requires otherwise, the following definitions apply: (1) "Alien captive insurance company" means any insurance company formed to write insurance business for its parents and affiliates and …
La. Rev. Stat. § 22:550.3 Applicability of other provisions
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§550.3. Applicability of other provisions A. The terms and conditions set forth in R.S. 22:96 and Chapter 9 of this Title, R.S. 22:2001 et seq., pertaining to rehabilitation, liquidation, conservation, dissolution, and administrative supervision, apply to captive insurance compan…
La. Rev. Stat. § 22:550.30 Affiliated reinsurance companies
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§550.30. Affiliated reinsurance companies A. An affiliated reinsurance company is subject to the provisions of this Subpart and applicable department rules and regulations. If there is a conflict between the provisions of this Subpart and the provisions of this Section, the provi…
La. Rev. Stat. § 22:550.31 Dormant captive insurance companies
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§550.31. Dormant captive insurance companies A. As used in this Section, unless the context requires otherwise, "dormant captive insurance company" means a captive insurance company that has ceased transacting the business of insurance, including the issuance of insurance policie…
La. Rev. Stat. § 22:550.32 Names of companies
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§550.32. Names of companies A captive insurance company shall adopt a name for the captive insurance company only after such name is approved by the commissioner. Acts 2025, No. 313, §2.
La. Rev. Stat. § 22:550.4 Regulations
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§550.4. Regulations The commissioner may promulgate rules in accordance with the Administrative Procedure Act as are necessary to implement and enforce the provisions of this Subpart. Acts 2008, No. 403, §1, eff. Jan. 1, 2009; Redesignated by Acts 2009, No. 503, §3; Acts 2025, No…
La. Rev. Stat. § 22:550.5 Incorporation of a captive insurer
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§550.5. Incorporation of a captive insurer A. A captive insurance company may be incorporated as a stock corporation or a nonstock corporation pursuant to this Title, or may be formed as a limited liability company, partnership, limited partnership, statutory trust, or any lawful…
La. Rev. Stat. § 22:550.6 Certificate of authority required to transact insurance
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§550.6. Certificate of authority required to transact insurance A captive insurance company shall not transact the business of insurance in this state unless the captive insurance company first obtains a certificate of authority from the commissioner. Acts 2008, No. 403, §1, eff.…
La. Rev. Stat. § 22:550.7 Application requirements; confidential information
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§550.7. Application requirements; confidential information A. After incorporation, a captive insurance company shall apply to the commissioner for a certificate of authority. The application shall be certified by the initial board of directors of the captive insurance company and…
La. Rev. Stat. § 22:550.8 Initial examination and issuance of certificate of authority
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§550.8. Initial examination and issuance of certificate of authority Upon receipt of the application for certificate of authority, the commissioner shall cause an initial examination to be made of the captive insurance company. If, in the opinion of the commissioner, the examinat…
La. Rev. Stat. § 22:550.9 Change of information submitted with application
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§550.9. Change of information submitted with application A captive insurance company shall notify the commissioner of any change to the plan of operation or other information submitted with the application within thirty days of the adoption of the change. Acts 2008, No. 403, §1, …
La. Rev. Stat. § 22:551 Title
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§551. Title This Part shall be known and may be cited as the "Business Transacted with Producer Controlled Insurer Law". Acts 1992, No. 811, §1; Redesignated from R.S. 22:1210.1 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 503, §1. NOTE: Former R.S. 22:551 redesig…
La. Rev. Stat. § 22:552 Definitions
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§552. Definitions As used in this Part, the following terms shall have the respective meanings hereinafter set forth, unless the context shall otherwise require: (1) "Accredited state" means a state in which the insurance department or regulatory agency has qualified as meeting t…
La. Rev. Stat. § 22:553 Applicability
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§553. Applicability This Part shall apply to licensed insurers as defined in R.S. 22:552, either domiciled in this state or domiciled in a state that is not an accredited state having in effect a law substantially similar to this Part. All provisions of the Insurance Holding Comp…
La. Rev. Stat. § 22:554 Minimum standards
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§554. Minimum standards A. Applicability of Section. (1) The provisions of this Section shall apply if, in any calendar year, the aggregate amount of gross written premium on business placed with a controlled insurer by a controlling producer is equal to or greater than five perc…
La. Rev. Stat. § 22:555 Disclosure
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§555. Disclosure The controlling producer, prior to the effective date of the policy, shall deliver written notice to the prospective insured disclosing the relationship between the controlling producer and the controlled insurer; except that, if the business is placed through an…