Louisiana § 22:341 Withdrawal from state; deposit

Louisiana Statutes

§ 22:341 — Withdrawal from state; deposit

Louisiana·Title 22 Insurance

§341. Withdrawal from state; deposit A. Any foreign or alien insurer admitted to do business in this state may withdraw from this state by filing with the commissioner of insurance a statement of withdrawal, signed and verified by a president, vice-president or an executive officer corresponding thereto, or in the case of a reciprocal or Lloyds, by the attorney-in-fact, and setting forth:

(1)That the insurer surrenders its authority to transact business in this state and returns for cancellation its certificate of authority;

(2)Except in the case of a reciprocal or Lloyds, that the withdrawal of the insurer from this state has been duly authorized by the board of directors, trustees or other governing body of such insurer; and

(3)A post office address to which the secretary of state may

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§341. Withdrawal from state; deposit
A. Any foreign or alien insurer admitted to do business in this state may withdraw
from this state by filing with the commissioner of insurance a statement of withdrawal,
signed and verified by a president, vice-president or an executive officer corresponding
thereto, or in the case of a reciprocal or Lloyds, by the attorney-in-fact, and setting forth:
(1) That the insurer surrenders its authority to transact business in this state and
returns for cancellation its certificate of authority;
(2) Except in the case of a reciprocal or Lloyds, that the withdrawal of the insurer
from this state has been duly authorized by the board of directors, trustees or other governing
body of such insurer; and
(3) A post office address to which the secretary of state may mail a copy of any
process against the withdrawing insurer that may be served upon him, which address the
commissioner of insurance shall furnish to the secretary of state;
(4) That the insurer agrees to settle claims arising from business in this state without
prejudice because of such withdrawal.
B. Upon the filing of such statement together with its certificate of authority with the
commissioner of insurance and payment of any taxes or charges that may be due, the
commissioner of insurance shall cancel the certificate of authority and return the cancelled
certificate to the insurer. The authority of the insurer to transact business in this state shall
thereupon cease.
C. Repealed by Acts 2021, No. 159, §2, eff. July 1, 2021.
NOTE: Former R.S. 22:341 redesignated as R.S. 22:201 by Acts 2008, No.
415, §1, eff. Jan. 1, 2009.

Louisiana § 22:341 (Withdrawal from state; deposit) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Acts 1958, No. 125; Redesignated from R.S. 22:991 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2010, No. 357, §1; Acts 2021, No. 159, §2, eff. July 1, 2021.