§ 22:443 — Exemptions

Louisiana § 22:443

• Jurisdiction: Louisiana
• Title 22: Insurance

Text

§443. Exemptions
A. The provisions of R.S. 22:432 through 442, 444, and 1910 controlling the placing
of insurance with unauthorized insurers shall not apply to reinsurance or to the following
insurances when so placed by licensed surplus lines brokers of this state, except that a tax
on the portion of the premiums received from ocean marine and foreign trade coverages
which is properly allocable to the risks or exposures located in this state during the preceding
calendar quarter shall be due on the dates and in a manner as provided in R.S. 22:439 at the
rate of four and eighty-five one hundredths of one percent, such tax when collected by the
commissioner of insurance shall be paid to the state treasurer and to be credited to the state
general fund, and such licensed surplus lines broker placing ocean marine insurance shall be
subject to the provisions of R.S. 22:435, notwithstanding the provisions of R.S. 22:1902,
1903, and 1906, and must show on any document issued by or delivered by them evidencing
such insurance, all of the insurers and must clearly stamp on any such documents that on the
demand of the policyholder or his representative the latest financial statements of any such
insurers are available at its office for inspection as follows:
(1) Ocean marine and foreign trade insurance.
(2) Insurance on property or operation of railroads engaged in interstate commerce.
(3) Insurance of aircraft owned or operated by manufacturers of aircraft, or of aircraft
operated in scheduled interstate flight, or cargo of such aircraft, or against liability, other than
workers' compensation and employer's liability, arising out of the ownership, maintenance,
or use of such aircraft.
B.(1) Surplus lines brokers so placing any such insurance with an unauthorized
insurer shall keep a full and true record of each such coverage in detail as required of surplus
lines insurance under this Subpart. The record shall be preserved for not less than five years
from the effective date of the insurance and shall be kept available in this state and open to
the examination of the commissioner of insurance. The surplus lines broker shall furnish to
the commissioner of insurance at his request and on forms as designated and furnished by
him a report of all such coverages so placed in a designated calendar year.
(2) Notwithstanding anything to the contrary herein contained, the rates for the
exempt lines of insurance set out in Paragraphs (A)(1), (2), (3), and (4) of this Section shall
not be regulated.
NOTE: Former R.S. 22:443 redesignated as R.S. 22:172 by Acts 2008, No.
415, §1, eff. Jan. 1, 2009.

Legislative History

Acts 1958, No. 125. Amended by Acts 1958, No. 264, §1; Acts 1960, No. 183, §1; Acts 1970, No. 185, §1; Acts 1983, 1st Ex. Sess., No. 1, §6; Acts 1986, No. 749, §1; Acts 1999, No. 868, §1; Redesignated from R.S. 22:1269 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 503, §1; Acts 2015, No. 386, §1, eff. Oct. 1, 2015.