This text of Louisiana § 22:436.1 (Domestic surplus lines insurer) 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.
§436.1. Domestic surplus lines insurer
A. The commissioner may designate a domestic insurer as a domestic surplus lines
insurer upon its application, which shall include, as a minimum, an authorizing resolution
of the board of directors and evidence to the commissioner's satisfaction that the insurer has
capital and surplus of not less than fifteen million dollars. The commissioner shall not
approve an application until all outstanding fees and assessments owed pursuant to this Title
are paid in full or satisfaction arrangements for their payment are established with the
commissioner.
B. A domestic surplus lines insurer shall:
(1)Be limited in its authority in this state to providing surplus lines insurance.
(2)Be authorized to write any type of insurance in this state that may be placed
Free access — add to your briefcase to read the full text and ask questions with AI
§436.1. Domestic surplus lines insurer
A. The commissioner may designate a domestic insurer as a domestic surplus lines
insurer upon its application, which shall include, as a minimum, an authorizing resolution
of the board of directors and evidence to the commissioner's satisfaction that the insurer has
capital and surplus of not less than fifteen million dollars. The commissioner shall not
approve an application until all outstanding fees and assessments owed pursuant to this Title
are paid in full or satisfaction arrangements for their payment are established with the
commissioner.
B. A domestic surplus lines insurer shall:
(1) Be limited in its authority in this state to providing surplus lines insurance.
(2) Be authorized to write any type of insurance in this state that may be placed with
a surplus lines insurer pursuant to this Subpart.
(3) Be subject to the requirements of this Title applicable to domestic insurers except
as follows:
(a) Part IV of Chapter 3 of this Title relative to taxes and exemptions.
(b) Subpart O of Part IV of Chapter 4 of this Title relative to ratemaking procedures
and organizations except as required pursuant to R.S. 22:1456(B)(2) relative to public carrier
vehicles.
(c) Chapter 10 of this Title relative to guaranty funds.
(4) Report to the commissioner all surplus lines business placed in this state in the
manner required of an approved unauthorized insurer.
C. A domestic surplus lines insurer may write insurance in other jurisdictions with
the approval of the commissioner.