Louisiana Revised Statutes 22:550.15 – Payment of dividends
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Terms Used In Louisiana Revised Statutes 22:550.15
- Captive insurer: means any pure captive insurer or association captive insurer formed or licensed under the provisions of this Subpart. See Louisiana Revised Statutes 22:550.2
- Commissioner: means the commissioner of insurance. See Louisiana Revised Statutes 22:550.2
A captive insurer shall not pay dividends out of, or make any other distribution with respect to, its capital or surplus, or both unless the captive insurer has obtained the prior approval of the commissioner to make such a payment or distribution.
Acts 2008, No. 403, §1, eff. Jan. 1, 2009; Redesignated by Acts 2009, No. 503, §3.