§2085. Creation of the association
A. There is hereby created a nonprofit entity to be known as the Louisiana Life and
Health Insurance Guaranty Association whose legal domicile shall be in the parish of East
Baton Rouge. All member insurers shall be and remain members of the association as a
condition of their authority to transact insurance or a health maintenance organization
business in this state. The association shall perform its function under the plan of operation
established and approved pursuant to R.S. 22:2089 and shall exercise its powers through a
board of directors established pursuant to R.S. 22:2086. For purposes of administration and
assessment, the association shall maintain all of the following accounts:
(1)The life insurance account.
(2)The annuity account excluding u
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§2085. Creation of the association
A. There is hereby created a nonprofit entity to be known as the Louisiana Life and
Health Insurance Guaranty Association whose legal domicile shall be in the parish of East
Baton Rouge. All member insurers shall be and remain members of the association as a
condition of their authority to transact insurance or a health maintenance organization
business in this state. The association shall perform its function under the plan of operation
established and approved pursuant to R.S. 22:2089 and shall exercise its powers through a
board of directors established pursuant to R.S. 22:2086. For purposes of administration and
assessment, the association shall maintain all of the following accounts:
(1) The life insurance account.
(2) The annuity account excluding unallocated annuity contracts and defined
contribution government plans qualified under Section 403(b) of the United States Internal
Revenue Code (26 U.S.C. 403(b)).
(3) The defined contribution plan account, meaning defined contribution plans
qualified under Section 403(b) of the United States Internal Revenue Code.
(4) The health account.
B. The association shall come under the immediate supervision of the commissioner
and shall be subject to the applicable provisions of the insurance laws of this state. The
association shall provide any records concerning the operations, budget, and management
of the association upon request of the commissioner.
C.(1) Notwithstanding any other provision of law to the contrary, the association is
not and may not be deemed a department, unit, agency, instrumentality, commission, or
board of the state for any purpose unless specifically set forth herein and shall not be subject
to laws governing such departments, units, agencies, instrumentalities, commissions, or
boards of the state. All debts, claims, obligations, and liabilities of the association, whenever
incurred, shall be the debts, claims, obligations, and liabilities of the association only and not
of the state, its agencies, instrumentalities, officers, or employees. The state may not budget
for or provide general fund appropriations to the association, and the debts, claims,
obligations, and liabilities of the association may not be considered to be a debt of the state
or a pledge of its credit. The association shall be subject to the provisions of R.S. 24:513 et
seq. regarding audits by the legislative auditor. The form established by the commissioner
pursuant to R.S. 22:2064 for the financial report shall determine the association's accounting
method and basis of financial reporting for all purposes notwithstanding any other provision
to the contrary.
(2) Notwithstanding the provisions of Paragraph (1) of this Subsection, and except
as provided in Paragraph (3) of this Subsection, the association shall be subject to the
provisions of R.S. 44:1 et seq. and R.S. 42:11 et seq., and may be considered as if it were a
public body for the purposes of this Section.
(3) The association may hold an executive session pursuant to R.S. 42:16 for
discussion of one or more of the following, and R.S. 44:1 et seq. shall not apply to any
documents as enumerated in R.S. 44:1(A)(2) which relate to one or more of the following:
(a) A request by the association or the commissioner for an examination of a member
insurer pursuant to R.S. 22:2091.
(b) Reports and recommendations made by the association to the commissioner
pursuant to R.S. 22:2093 on any matter relevant to the solvency, impairment, liquidation,
rehabilitation, or conservation of any member insurer, until such insolvency has been
declared or the member insurer has been placed in liquidation, rehabilitation, or conservation.
(c) Matters protected by attorney-client privilege.
(d) Matters with respect to claims or claim files, except documents contained in
those files which are otherwise deemed public records.
(e) Prospective litigation against the association after formal written demand,
prospective litigation by the association after referral to counsel for review, or pending
litigation by or against the association.
(f) Any other matters now provided for or as may be provided for by the legislature.
(g) Discussion by or documents in the custody or control of any committee or
subcommittee of the association, or any member or agent thereof, or the board of directors
or any member or agent thereof, if such discussion or documents would otherwise be
protected from disclosure by any of the exceptions provided in this Paragraph.
(h) Matters with respect to the abatement or deferral or the request for an abatement
or deferral of an assessment pursuant to R.S. 22:2088(D).
NOTE: Former R.S. 22:2085 redesignated as R.S. 22:497 by Acts 2008, No.
415, §1, eff. Jan. 1, 2009.