Louisiana Revised Statutes 22:389.1 – Reinstatement of license
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Terms Used In Louisiana Revised Statutes 22:389.1
- Property: means all classes of movable or immovable property recognized under the laws of this state. See Louisiana Revised Statutes 22:381
- Property residual value insurer: means any person or organization, whether domestic, foreign, or alien, issuing or attempting to issue property residual value policies as defined herein. See Louisiana Revised Statutes 22:381
- Residual value: shall mean the value of property at a specific future time, which value is determined by agreement at the time the contract of lease or sale is entered into. See Louisiana Revised Statutes 22:381
A. A property residual value insurer whose license has been suspended for failure to pay the annual renewal fee required by La. Rev. Stat. 22:382 shall have his license reinstated if the annual renewal fee is paid within ninety days of the date of suspension, provided all other requirements of this Subpart have been met.
B. A property residual value insurer whose license has been suspended for failure to file the annual audited financial statement required by La. Rev. Stat. 22:386 shall have his license reinstated if the annual audited financial statement is filed within ninety days of the deadline for filing provided in La. Rev. Stat. 22:386.
Acts 2014, No. 82, §1.