Louisiana Revised Statutes 22:1943 – Misrepresentations by foreign insurer, notice to domiciliary supervisory official
Terms Used In Louisiana Revised Statutes 22:1943
- Commissioner: shall mean the commissioner of insurance of this state. See Louisiana Revised Statutes 22:1942
- Residents: shall mean and include persons, partnerships, or corporations, domestic, alien, or foreign. See Louisiana Revised Statutes 22:1942
- Unfair Trade Practice Law: shall mean the law relating to unfair methods of competition and unfair and deceptive acts and practices in the business of insurance, as set out in Part IV of this Chapter, Louisiana Revised Statutes 22:1942
No unauthorized foreign or alien insurer of the kind described in La. Rev. Stat. 22:1941 shall make, issue, circulate or cause to be made, issued or circulated, to residents of this state any estimate, illustration, circular, pamphlet, or letter, or cause to be made in any newspaper, magazine or other publication or over any radio or television station, any announcement or statement to such residents misrepresenting its financial condition or the terms of any contracts issued or to be issued or the benefits or advantages promised thereby, or the dividends or share of the surplus to be received thereon in violation of the Unfair Trade Practice Law, and whenever the commissioner shall have reason to believe that any such insurer is engaging in such unlawful advertising, it shall be his duty to give notice of such fact by registered mail to such insurer and to the insurance supervisory official of the domiciliary state of such insurer. For the purpose of this Section, the domiciliary state of an alien insurer shall be deemed to be the state of entry or the state of the principal office in the United States.
Added by Acts 1966, No. 174, §1; Redesignated from La. Rev. Stat. 22:1233 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.