Louisiana Revised Statutes 22:74 – Insurers prohibited from engaging in other businesses
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Terms Used In Louisiana Revised Statutes 22:74
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
No domestic insurer shall deal or trade in buying or selling goods, wares, or merchandise except articles insured by it on which losses are claimed and except in replacing, rebuilding, or repairing insured property as provided in its policies. A domestic insurer shall also not discount commercial or other than first mortgage paper nor engage in any banking business whatsoever.
Acts 2009, No. 503, §1.