Title 22, Insurance

0 chapters · 2,651 sections in this title.

2,651 sectionsFiltered byTitle 22

La. Rev. Stat. § 22:601.12 Foreign investments and foreign currency exposure
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§601.12. Foreign investments and foreign currency exposure A. An insurer may acquire obligations of the government of the Dominion of Canada or of Canadian provinces or municipalities, and in obligations of Canadian corporations as follows: (1) Obligations issued, assumed, guaran…
La. Rev. Stat. § 22:601.13 Insurer investment pools
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§601.13. Insurer investment pools A. An insurer may acquire investments in investment pools that: (1) Invest in only one of the following: (a) Obligations that are rated one or two by the SVO or have an equivalent of an SVO one or two rating, or, in the absence of a one or two ra…
La. Rev. Stat. § 22:601.14 Derivative transactions
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§601.14. Derivative transactions An insurer may, directly or indirectly through an investment subsidiary, engage in derivative transactions pursuant to this Section by meeting all of the following conditions: (1) An insurer may use derivative instruments under this Section to eng…
La. Rev. Stat. § 22:601.15 Collateral loans
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§601.15. Collateral loans Loans upon the pledge of investments provided for pursuant to the terms of this Title are subject to the same limits as to each investment as is provided in this Title for investments, if the face or current market value, whichever is less, of the invest…
La. Rev. Stat. § 22:601.16 Other admitted assets
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§601.16. Other admitted assets For the purposes of this Subpart, the following assets are admitted assets: (1) Cash in the direct possession of the insurer or in transit under its control, and including cash on deposit with a financial institution regulated by any federal or stat…
La. Rev. Stat. § 22:601.17 Additional investment authority
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§601.17. Additional investment authority A. Any domestic insurer, in addition to the other investments permitted by this Subpart, may invest in an amount equal to twenty-five percent of its capital and surplus if a stock company, and if a company other than stock, twenty-five per…
La. Rev. Stat. § 22:601.18 Prohibited investments
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§601.18. Prohibited investments An insurer shall not, directly or indirectly, do any of the following: (1) Engage on its own behalf or through one or more affiliates in a transaction or series of transactions designed to evade the prohibitions of this Subpart. (2) Invest in a par…
La. Rev. Stat. § 22:601.19 Pledging of assets restricted
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§601.19. Pledging of assets restricted A. No insurance company domiciled in this state shall pledge its assets solely to secure a personal loan, other than a policy loan based on the contractual terms of a policy of insurance issued by the company, if the loan is solely for the p…
La. Rev. Stat. § 22:601.2 General investment qualifications
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§601.2. General investment qualifications A. Insurers may acquire, hold, or invest in investments or engage in investment practices as set forth in this Subpart only. Investments not conforming to this Subpart shall not be admitted assets. B. No security or other investment shall…
La. Rev. Stat. § 22:601.20 Loans to officers and directors
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§601.20. Loans to officers and directors A. An insurer shall not, directly or indirectly, do any of the following: (1) Invest in an obligation or security or make a guarantee for the benefit of or in favor of an officer, director, or controlling stockholder of the insurer. (2) In…
La. Rev. Stat. § 22:601.21 Judicial review; mandamus
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§601.21. Judicial review; mandamus A. Any person aggrieved by any act, determination, rule, regulation, or order or any other action of the commissioner pursuant to this Subpart may appeal to the Nineteenth Judicial District Court in and for the parish of East Baton Rouge. The co…
La. Rev. Stat. § 22:601.3 Insurer investment policy
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§601.3. Insurer investment policy A. In acquiring, investing, exchanging, holding, selling, or managing investments, an insurer shall follow a written investment policy established by its board of directors which shall be reviewed and approved annually. There is no requirement fo…
La. Rev. Stat. § 22:601.4 Authorization of investments by the board of directors
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§601.4. Authorization of investments by the board of directors A. Except as to the policy loans of a life insurer, investments acquired and held under this Subpart shall be acquired and held under the supervision and direction of the board of directors of the insurer. The board o…
La. Rev. Stat. § 22:601.5 Valuation of investments
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§601.5. Valuation of investments The value or amount of an investment acquired or held, or an investment practice engaged in, pursuant to this Subpart, unless otherwise specified in this Title, shall be the value at which assets of an insurer are required to be reported for statu…
La. Rev. Stat. § 22:601.6 General limitation on investment in obligations of a single person
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§601.6. General limitation on investment in obligations of a single person A. Except as otherwise specified in this Subpart, no insurer shall acquire, except with the consent of the commissioner, an investment pursuant to this Subpart if, as a result of and after giving effect to…
La. Rev. Stat. § 22:601.7 Bonds
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§601.7. Bonds A. Notwithstanding the limitations contained in R.S. 22:601.6, an insurer may acquire obligations issued, assumed, guaranteed, or insured by the following: (1) The United States. (2) A government-sponsored enterprise of the United States, if the instruments of the g…
La. Rev. Stat. § 22:601.8 Equity interests
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§601.8. Equity interests A. An insurer may acquire preferred stocks in any United States business entity if, as a result of and after giving effect to the investment: (1) Securities of a single issuer and its affiliates, other than the government of the United States and subsidia…
La. Rev. Stat. § 22:601.9 Mortgage loans
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§601.9. Mortgage loans A. An insurer may acquire, either directly, indirectly through limited partnership interests and general partnership interests not otherwise prohibited, joint ventures, stock of an investment subsidiary or membership interests in a limited liability company…
La. Rev. Stat. § 22:61 Incorporators
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§61. Incorporators Five or more natural persons of full age, or fully relieved by emancipation of all disabilities attaching to minority, who are citizens of the United States and a majority of whom are residents of this state, may form a corporation for the purpose of transactin…
La. Rev. Stat. § 22:611 Definitions
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§611. Definitions As used in this Subpart, the following terms shall have the following meanings: (1) "Adjusted risk-based report" means a risk-based capital report which has been adjusted by the department in accordance with R.S. 22:612(C). (2) "Corrective order" means an order …
La. Rev. Stat. § 22:612 Reports; risk-based capital
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§612. Reports; risk-based capital A. Unless it appears in the discretion of the commissioner that the condition of a small company renders the continuance of its business hazardous to the public or its insureds, a small company shall not be required to submit to the department a …
La. Rev. Stat. § 22:613 Company-action level event
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§613. Company-action level event A. "Company-action level event" means any of the following events: (1) The filing of a risk-based capital report by an insurer that indicates that: (a) The total adjusted capital of the insurer is greater than or equal to its regulatory-action lev…
La. Rev. Stat. § 22:614 Regulatory-action level event
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§614. Regulatory-action level event A. "Regulatory-action level event" shall mean any of the following events: (1) The filing of a risk-based capital report by the insurer which indicates that the total adjusted capital of the insurer is greater than or equal to its authorized co…
La. Rev. Stat. § 22:614.1 Redesignated as R.S
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§614.1. Redesignated as R.S. 22:902 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:615 Authorized-control level event
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§615. Authorized-control level event A. "Authorized-control level event" shall mean any of the following events: (1) The filing of a risk-based capital report by the insurer which indicates that the total adjusted capital of the insurer is greater than or equal to its mandatory c…
La. Rev. Stat. § 22:616 Mandatory-control level event
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§616. Mandatory-control level event A. "Mandatory-control level event" shall mean any of the following events: (1) The filing of a risk-based capital report which indicates that the total adjusted capital of the insurer is less than the mandatory-control level risk-based capital.…
La. Rev. Stat. § 22:616.1 Redesignated as R.S
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§616.1. Redesignated as R.S. 22:858 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:617 Hearings; administrative
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§617. Hearings; administrative An insurer may make written demand for an administrative hearing, pursuant to the provisions of Chapter 12 of this Title, within thirty days after receipt of notification by the department of one of the following: (1) Notification to an insurer by t…
La. Rev. Stat. § 22:618 Confidentiality; prohibition on announcements, prohibition on use in ratemaking
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§618. Confidentiality; prohibition on announcements, prohibition on use in ratemaking A. All risk-based capital reports, to the extent the information is not set forth in a publicly available annual statement schedule and risk-based capital plans, including the results or report …
La. Rev. Stat. § 22:619 Supplemental provisions; rules; exemption
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§619. Supplemental provisions; rules; exemption A. The provisions of this Subpart are supplemental to any other provision of the laws of this state and shall not preclude or limit any other powers or duties of the department under this Code. B. The department may adopt reasonable…
La. Rev. Stat. § 22:62 Articles of incorporation
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§62. Articles of incorporation Articles of incorporation shall be executed by authentic act signed by each of the incorporators and shall state in the English language all of the following: (1) The name of the corporation, which shall not be the same as nor deceptively similar to…
La. Rev. Stat. § 22:620 Foreign insurers
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§620. Foreign insurers A.(1) Any foreign insurer shall submit to the department upon written request, a risk-based capital report as of the end of the preceding calendar year but not later than the date a risk-based capital report would be required to be filed by a domestic insur…
La. Rev. Stat. § 22:621 Redesignated as R.S
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§621. Redesignated as R.S. 22:862 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:622 Redesignated as R.S
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§622. Redesignated as R.S. 22:974 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:622.1 Redesignated as R.S
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§622.1. Redesignated as R.S. 22:1281 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:622.2 Redesignated as R.S
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§622.2. Redesignated as R.S. 22:1282 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:623 Redesignated as R.S
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§623. Redesignated as R.S. 22:863 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:624 Redesignated as R.S
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§624. Redesignated as R.S. 22:864 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:625 Redesignated as R.S
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§625. Redesignated as R.S. 22:865 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:626 Redesignated as R.S
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§626. Redesignated as R.S. 22:866 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:627 Redesignated as R.S
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§627. Redesignated as R.S. 22:855 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:628 Redesignated as R.S
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§628. Redesignated as R.S. 22:867 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:629 Redesignated as R.S
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§629. Redesignated as R.S. 22:868 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:63 Approval of articles
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§63. Approval of articles Such articles shall be submitted to the commissioner of insurance for his examination and approval either before or after execution, but before recordation. The commissioner shall not approve such articles unless they strictly conform with the provisions…
La. Rev. Stat. § 22:630 Redesignated as R.S
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§630. Redesignated as R.S. 22:869 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
La. Rev. Stat. § 22:631 Definitions
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§631. Definitions As used in this Subpart, these terms have the following meanings: (1) "Adjusted risk-based capital report" means a risk-based capital report which has been adjusted by the commissioner in accordance with R.S. 22:632(C). (2) "Commissioner" means the commissioner …
La. Rev. Stat. § 22:632 Risk-based capital reports
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§632. Risk-based capital reports A. A health organization shall, on or prior to each March first, prepare and submit to the commissioner a report of its risk-based capital levels as of the end of the calendar year just ended, in a form and containing such information as is requir…
La. Rev. Stat. § 22:633 Supplemental quarterly reports of risk-based capital
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§633. Supplemental quarterly reports of risk-based capital A health organization shall submit to the Department of Insurance each quarter, as a standard quarterly filing, a report on additional key financial data, pursuant to a regulation promulgated by the department for this pu…
La. Rev. Stat. § 22:634 Company-action level event
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§634. Company-action level event A. A "company-action level event" means any of the following: (1) The filing of a risk-based capital report by a health organization that indicates that the health organization's total adjusted capital is greater than or equal to its regulatory ac…
La. Rev. Stat. § 22:635 Regulatory-action level event
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§635. Regulatory-action level event A. "Regulatory-action level event" means any of the following events: (1) The filing of a risk-based capital report by the health organization that indicates that the health organization's total adjusted capital is greater than or equal to its …