Louisiana Revised Statutes 33:5086 – A. An affiliate or subsidiary of a local housing authority shall not, by reason of being a member of a risk management organization and contributing to a self-insurance fund, be liab
Terms Used In Louisiana Revised Statutes 33:5086
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
A. An affiliate or subsidiary of a local housing authority shall not, by reason of being a member of a risk management organization and contributing to a self-insurance fund, be liable to the risk management organization, to any other member, or to any claimant against the organization itself or another member, except for payment of contributions provided in the agreement between the affiliate or subsidiary of the local housing authority and the risk management organization. No risk management organization agreement shall provide for a donation, in whole or in part, of funds of one affiliate or subsidiary of the local housing authority for the benefit of another. Nothing in this Section shall be construed to reduce or limit a participating member’s rights or obligations with respect to its employees under the provisions of Chapter 10 of Title 23 of the Louisiana Revised Statutes of 1950.
B. A risk management organization shall administer the assets of a self-insurance fund to maintain appropriate levels of reserves and to ascertain full and timely payment of all fund obligations, including without limitation loss fund requirements, administrative expenses, and costs of insurance.
Acts 2022, No. 686, §1, eff. June 18, 2022.