Louisiana Revised Statutes 22:388.1 – Filing of contracts
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Terms Used In Louisiana Revised Statutes 22:388.1
- Commissioner: means the commissioner of insurance of the state of Louisiana. See Louisiana Revised Statutes 22:381
- Contract: A legal written agreement that becomes binding when signed.
- Property: means all classes of movable or immovable property recognized under the laws of this state. 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
No property residual value insurance policy or application form, where written application is required and is to be attached to the policy, or any rider or endorsement of such a contract shall be issued, delivered, or used unless it has been filed with the commissioner of insurance. Each submission shall be accompanied by the fees provided for in La. Rev. Stat. 22:821.
Acts 2008, No. 883, §1; Acts 2009, No. 503, §1.