Louisiana Revised Statutes 22:164 – Insuring powers
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Terms Used In Louisiana Revised Statutes 22:164
- subscriber: means the participant or policyholder; "attorney-in-fact" means the representative of the subscribers through whom reciprocal insurance is exchanged; and "reciprocal insurer" means the organization or group of all the subscribers. See Louisiana Revised Statutes 22:161
A. A reciprocal insurer may be authorized to exchange contracts covering any kind or kinds of insurance defined by this Code, other than life or title insurance.
B. A reciprocal insurer may purchase reinsurance upon the risk of any subscriber, and may grant reinsurance as to any kind of insurance which it is authorized to transact direct.
Acts 1958, No. 125; Redesignated from La. Rev. Stat. 22:434 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
NOTE: Former La. Rev. Stat. 22:164 redesignated as La. Rev. Stat. 22:754 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.