Louisiana § 22:123 Policyholders' liability

Louisiana Statutes

§ 22:123 — Policyholders' liability

Louisiana § 22:123

Title 22Insurance

This text of Louisiana § 22:123 (Policyholders' liability) is published on Counsel Stack Legal Research, covering Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

La. Stat. Ann. § 22:123 (2026).

Text

A.Except as to non-assessable policies, any contract of insurance issued by a mutual insurer shall provide for the contingent liability of the subscriber for payment of actual losses and expenses incurred while such contract was in force. Such contingent liability shall be in an amount as specified in the by-laws but not less than one annual premium.

B.Each assessable policy issued by the insurer shall plainly set forth a statement of the contingent liability.

C.The contingent liability of each policyholder for the obligations of a mutual insurer shall not be joint but shall be individual and several. NOTE: Former R.S. 22:123 redesignated as R.S. 22:115 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.

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A. Except as to non-assessable policies, any contract of insurance issued by a mutual insurer shall provide for the contingent liability of the subscriber for payment of actual losses and expenses incurred while such contract was in force. Such contingent liability shall be in an amount as specified in the by-laws but not less than one annual premium.
B. Each assessable policy issued by the insurer shall plainly set forth a statement of the contingent liability.
C. The contingent liability of each policyholder for the obligations of a mutual insurer shall not be joint but shall be individual and several.
NOTE: Former R.S. 22:123 redesignated as R.S. 22:115 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.