§ 22:550.25 — Policy forms

Louisiana § 22:550.25

• Jurisdiction: Louisiana
• Title 22: Insurance

Text

§550.25. Policy forms
A. A captive insurance company shall not issue, deliver, or use a policy form unless
it has been filed with and approved by the commissioner.
B. Every such filing shall be made not less than forty-five days in advance for any
lines of insurance of any such issuance, delivery, or use. At the expiration of forty-five days,
the filed form shall be deemed approved unless prior thereto it has been affirmatively
approved or disapproved by order of the commissioner. The commissioner may extend by
not more than an additional fifteen days the period within which he may affirmatively
approve or disapprove a form by giving notice of the extension before expiration of the initial
forty-five-day period. At the expiration of any extended period, and in the absence of prior
affirmative approval or disapproval, a form shall be deemed approved. The commissioner
may withdraw approval at any time for cause. Approval of a form by the commissioner
constitutes a waiver of any unexpired portion of the initial fifteen-day waiting period.

Legislative History

Acts 2008, No. 403, §1, eff. Jan. 1, 2009; Redesignated by Acts 2009, No. 503, §3; Acts 2025, No. 313, §2.