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Terms Used In Louisiana Revised Statutes 23:1407

  • Board: means the board of directors of the corporation. See Louisiana Revised Statutes 23:1392
  • 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.
  • Corporation: means the Louisiana Workers' Compensation Corporation. See Louisiana Revised Statutes 23:1392

A.  Any insurance agent licensed to sell workers’ compensation insurance in this state shall be authorized to sell insurance policies for the corporation in compliance with the bylaws adopted by the corporation and La. Rev. Stat. 22:1113(A)(3)1.  The board of directors shall establish a schedule of commissions to pay for the services of the agent.

B.  No action shall lie against any person authorized to sell insurance by this Section for any claim arising out of the corporation’s insolvency or inability to pay claims.

Acts 1991, No. 814, §1, eff. Nov.  20, 1991; Acts 1997, No. 301, §2; Acts 2008, No. 415, §2, eff. Jan. 1, 2009.

1Repealed.