§ 22:753.1 — Single-state exemption

Louisiana § 22:753.1

• Jurisdiction: Louisiana
• Title 22: Insurance

Text

§753.1. Single-state exemption
A. The commissioner may exempt specific product forms or product lines of a
domestic company that is authorized and doing business only in this state from the
requirements of R.S. 22:753(C) provided both of the following occur:
(1) The commissioner has issued an exemption in writing to the company and has
not subsequently revoked the exemption in writing.
(2) The company computes reserves using assumptions and methods used prior to
the operative date of the valuation manual in addition to any requirements established by the
commissioner and promulgated by regulation.
B. For any company granted an exemption pursuant to this Section, the provisions
of R.S. 22:752 and 753 shall apply with the exception of R.S. 22:753(C). With respect to any
company applying this exemption to its reserves, any reference to R.S. 22:753(C) found in
R.S. 22:752 or 753 shall not apply.

Legislative History

Acts 2016, No. 316, §1, eff. June 2, 2016.