Louisiana Revised Statutes 12:1852 – The Louisiana Churches and Nonprofit Religious Organizations Self-Insured Fund is hereby created for the purpose of allowing churches, religious organizations, and religious denomina
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Terms Used In Louisiana Revised Statutes 12:1852
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fund: means the self-insurance fund established pursuant to this Chapter to provide property insurance for churches and nonprofit religious organizations and shall be known as the Louisiana Churches and Nonprofit Religious Organizations Self-Insured Fund. See Louisiana Revised Statutes 12:1854
The Louisiana Churches and Nonprofit Religious Organizations Self-Insured Fund is hereby created for the purpose of allowing churches, religious organizations, and religious denominations to band together and self-insure, thereby increasing the availability of property insurance for local churches and religious buildings, increasing competitive pressure on insurance rates, and reducing the volume of business written by the Louisiana Citizens Property Insurance Corporation by offering a less expensive alternative to its policyholders and reducing the exposure and potential assessments to policyholders by the Louisiana Citizens Property Insurance Corporation.
Acts 2023, No. 259, §§1, 3A, eff. June 12, 2023.