Louisiana Revised Statutes 22:2063 – Prevention of insolvencies
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Louisiana Revised Statutes 22:2063
- Association: means the Louisiana Insurance Guaranty Association created under Louisiana Revised Statutes 22:2055
- Commissioner: means the commissioner of insurance of this state. See Louisiana Revised Statutes 22:2055
To aid in the detection and prevention of insurer insolvencies:
(1) The board of directors may, upon majority vote, make recommendations to the commissioner on matters generally related to improving or enhancing regulation for solvency.
(2) At the conclusion of any domestic insurer insolvency in which the association was obligated to pay covered claims, the board of directors may, upon a majority vote, prepare a report on the history and causes of such insolvency, based on the information available to the association, and submit such report to the commissioner.
Added by Acts 1970, No. 81, §1; Redesignated from La. Rev. Stat. 22:1387 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2010, No. 959, §1, eff. July 6, 2010.