reglab/housing_qa huggingface dataset:
LA Rev Stat § 22:691.19 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.19. Substitution of policies; charge by lender prohibited; penalty

RS 691.19 - Substitution of policies; charge by lender prohibited; penalty A. It shall be unlawful for any person, firm, or corporation engaged in financing the purchase of immovable or movable property, or of lending money on the security of immovable or movable property, or for any trustee, director, officer, agent, or other employee of any such person, firm or corporation, to require, directly or indirectly, that a borrower, or any other person, in obtaining insurance coverage on the property, pay a service charge or fee of any kind to substitute the insurance policy of one insurance company for that of another. B. Any violation of any of the provisions of this Section by any person, firm, or corporation shall be a misdemeanor and is punishable by a fine of not less than one hundred dollars or more than five hundred dollars, or imprisonment for not less than sixty days or more than one year, or both fine and imprisonment, for each offense, in the discretion of the court. Acts 2012, No. 294, §1.
LA Rev Stat § 22:691.20 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.20. Ownership of domestic stock insurance company equity securities; filing of statements

RS 691.20 - Ownership of domestic stock insurance company equity securities; filing of statements Every person who is directly or indirectly the beneficial owner of more than ten percent of any class of any equity security of a domestic stock insurance company, or who is a director or an officer of such company, shall file in the office of the commissioner of insurance within ten days after he becomes such beneficial owner, director, or officer, a statement, in such form as the commissioner of insurance may prescribe, of the amount of all equity securities of such company of which he is the beneficial owner, and within ten days after the close of each calendar month thereafter, if there has been a change in such ownership during such month, shall file in the office of the commissioner of insurance a statement, in such form as the commissioner of insurance may prescribe, indicating his ownership at the close of the calendar month and such changes in his ownership as have occurred during such calendar month. Acts 2012, No. 294, §1.
LA Rev Stat § 22:691.21 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.21. Profits to inure to company; suits to recover

RS 691.21 - Profits to inure to company; suits to recover For the purpose of preventing the unfair use of information which may have been obtained by such beneficial owner, director, or officer by reason of his relationship to such company, any profit realized by him from any purchase and sale, or any sale and purchase, of any equity security of such company within any period of less than six months, unless such security was acquired in good faith in connection with a debt previously contracted, shall inure to and be recoverable by the company, irrespective of any intention on the part of such beneficial owner, director, or officer in entering into such transaction of holding the security purchased or of not repurchasing the security sold for a period exceeding six months. Suit to recover such profit may be instituted at law or in equity in any court of competent jurisdiction by the company, or by the owner of any security of the company in the name and in behalf of the company if the company shall fail or refuse to bring such suit within sixty days after request or shall fail to diligently prosecute the same thereafter; but no such suit shall be brought more than two years after the date such profit was realized. This Section shall not be construed to cover any transaction where such beneficial owner was not such, both at the time of the purchase and sale, or the sale and purchase, of the security involved, or any transaction or transactions which the commissioner of insurance, by rules and regulations may exempt as not comprehended within the purpose of this Section. Acts 2012, No. 294, §1.
LA Rev Stat § 22:691.22 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.22. Unlawful sales

RS 691.22 - Unlawful sales It shall be unlawful for any such beneficial owner, director, or officer, directly or indirectly, to sell any equity security of such company if the person selling the security or his principal (1) does not own the security sold, or (2) if owning the security, does not deliver it against such sale within twenty days thereafter, or does not within five days after such sale deposit it in the mails, or other usual channels of transportation; but no person shall be deemed to have violated this Section if he proves that notwithstanding the exercise of good faith he was unable to make such delivery or deposit within such time, or that to do so would cause undue inconvenience or expense. Acts 2012, No. 294, §1.
LA Rev Stat § 22:691.23 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.23. Sales exempt

RS 691.23 - Sales exempt The provisions of R.S. 22:691.21 shall not apply to any purchase and sale, or sale and purchase, and the provisions of R.S. 22:691.22 shall not apply to any sale, of an equity security of a domestic stock insurance company not then or theretofore held by him in an investment account, by a dealer in the ordinary course of his business and incident to the establishment or maintenance by him of a primary or secondary market, otherwise than on an exchange as defined in the Securities Exchange Act of 1934, for such security. The commissioner of insurance may, by such rules and regulations as he deems necessary or appropriate in the public interest, define and prescribe terms and conditions with respect to securities held in an investment account and transactions made in the ordinary course of business and incident to the establishment or maintenance of a primary or secondary market. Acts 2012, No. 294, §1.
LA Rev Stat § 22:691.24 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.24. Arbitrage transactions

RS 691.24 - Arbitrage transactions The provisions of R.S. 22:691.20 through 691.22 shall not apply to foreign or domestic arbitrage transactions unless made in contravention of such rules and regulations as the commissioner of insurance may adopt in order to carry out the purposes of R.S. 22:49* and 691.20 through 691.27. Acts 2012, No. 294, §1. NOTE: *Repealed by Acts 2009, No. 503.
LA Rev Stat § 22:691.25 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.25. "Equity security" defined

RS 691.25 - "Equity security" defined The term "equity security" when used in R.S. 22:49* and 691.20 through 691.27, means any stock or similar security; or any security convertible, with or without consideration, into such a security, or carrying any warrant or right to subscribe to or purchase such a security; or any such warrant or right; or any other equity security of a domestic stock insurance company which the commissioner of insurance shall deem to be of a similar nature and consider necessary or appropriate, by such rules and regulations as he may prescribe in the public interest or for the protection of investors, to treat as an equity security of a domestic stock insurance company. Acts 2012, No. 294, §1. NOTE: *Repealed by Acts 2009, No. 503.
LA Rev Stat § 22:691.26 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.26. Securities exempt

RS 691.26 - Securities exempt The provisions of R.S. 22:691.20 through 691.22 shall not apply to such equity securities of a domestic stock insurance company if either of the following apply: (1) Such securities shall be registered or shall be required to be registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended. (2) Such domestic stock insurance company shall not have any class of its equity securities held of record by one hundred or more persons on the last business day of the year next preceding the year in which equity securities of the company would be subject to the provisions of R.S. 22:691.20 through 691.22 except for the provisions of this Paragraph. Acts 2012, No. 294, §1.
LA Rev Stat § 22:691.27 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.27. Rules and regulations

RS 691.27 - Rules and regulations The commissioner of insurance shall have the power to make such rules and regulations as may be necessary for the execution of the functions vested in him by R.S. 22:49* and 691.20 through 691.27 and may for such purpose classify domestic stock insurance companies, securities, and other persons or matters within his jurisdiction. No provision of R.S. 22:691.20 through 691.22 imposing any liability shall apply to any act done or omitted in good faith in conformity with any rule or regulation of the commissioner of insurance, notwithstanding that such rule or regulation may, after such act or omission, be amended or rescinded or determined by judicial or other authority to be invalid for any reason. Acts 2012, No. 294, §1. NOTE: *Repealed by Acts 2009, No. 503.
LA Rev Stat § 22:691.31 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.31. Purpose and scope

RS 691.31 - Purpose and scope  A. The purpose of this Subpart is to provide the requirements for maintaining a risk management framework and completing an own risk and solvency assessment (ORSA) and the guidance and instructions for filing an ORSA summary report with the commissioner.  B. The requirements of this Subpart shall apply to all domestic insurers unless exempt pursuant to R.S. 22:691.36.  C. The legislature finds and declares that the ORSA summary report will contain confidential and sensitive information related to the identification of risk material and relevant to the insurer or insurance group filing the report. Public disclosure of the information in the ORSA summary report will cause harm to and competitive disadvantage for the insurer or insurance group. The legislature intends that the ORSA summary report be filed with the commissioner as a confidential document, shared only as stated in this Subpart to assist in the performance of the commissioner's duties, and exempted from public disclosure.  Acts 2015, No. 196, §1, eff. Jan. 1, 2016.
LA Rev Stat § 22:691.32 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.32. Definitions

RS 691.32 - Definitions  For purposes of this Subpart:  (1) "Insurance group" means, for the purpose of conducting an ORSA, those insurers and affiliates included within an insurance holding company system as defined in R.S. 22:691.2(5).  (2) "Insurer" means an insurer as defined in R.S. 22:46 except that it shall not include agencies, authorities, or instrumentalities of the United States, its possessions and territories, the Commonwealth of Puerto Rico, the District of Columbia, or a state or political subdivision of a state.  (3) "NAIC" means the National Association of Insurance Commissioners.  (4) "Own risk and solvency assessment" or "ORSA" means a confidential internal assessment, appropriate to the nature, scale, and complexity of an insurer or insurance group, conducted by that insurer or insurance group of the material and relevant risks associated with the insurer's or insurance group's current business plan, and the sufficiency of capital resources to support those risks.  (5) "ORSA Guidance Manual" means the current version of the "Own Risk and Solvency Assessment Guidance Manual" developed and adopted by the NAIC and as amended from time to time. A change in the ORSA Guidance Manual shall become effective on January first following the calendar year in which the changes are adopted by the NAIC.  (6) "ORSA summary report" means a confidential high-level summary of an insurer's or insurance group's ORSA.  Acts 2015, No. 196, §1, eff. Jan. 1, 2016.
LA Rev Stat § 22:691.33 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.33. Risk management framework

RS 691.33 - Risk management framework  An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting on its material and relevant risks. This requirement may be satisfied if the insurance group of which it is a member maintains a risk management framework applicable to the operations of the insurer.  Acts 2015, No. 196, §1, eff. Jan 1, 2016.
LA Rev Stat § 22:691.34 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.34. ORSA requirement

RS 691.34 - ORSA requirement  Subject to R.S. 22:691.36, an insurer, or the insurance group of which it is a member, shall regularly conduct an ORSA consistent with the ORSA Guidance Manual. An insurer, or the insurance group of which it is a member, shall conduct the ORSA no less than annually and any time there are significant changes to the risk profile of the insurer or the insurance group of which it is a member.  Acts 2015, No. 196, §1, eff. Jan. 1, 2016.
LA Rev Stat § 22:691.35 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.35. ORSA summary report

RS 691.35 - ORSA summary report  A. Upon the commissioner's request, and no more than once each year, an insurer shall submit to the commissioner an ORSA summary report or any combination of reports that together contain the information described in the ORSA Guidance Manual, applicable to the insurer, the insurance group of which it is a member, or both. Notwithstanding any request from the commissioner, if the insurer is a member of an insurance group, the insurer shall submit the report required by this Subsection if the commissioner is the lead state commissioner of the insurance group as determined by the procedures within the Financial Analysis Handbook adopted by the National Association of Insurance Commissioners.  B. The report shall include a signature and an attestation based on the knowledge, information, and belief of the insurer or insurance group's chief risk officer or other executive having responsibility for the oversight of the insurer's enterprise risk management process that the insurer applies the enterprise risk management process described in the ORSA summary report and that a copy of the report has been provided to the insurer's board of directors or the appropriate committee of such board.  C. An insurer may comply with Subsection A of this Section by providing the most recent and substantially similar report provided by the insurer or another member of an insurance group of which it is a member to the commissioner of another state or to a supervisor or regulator of a foreign jurisdiction, if that report provides information that is comparable to the information described in the ORSA Guidance Manual. Any such report in a language other than English must be accompanied by a translation of that report into the English language.  Acts 2015, No. 196, §1, eff. Jan. 1, 2016.
LA Rev Stat § 22:691.37 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.37. Contents of ORSA summary report

RS 691.37 - Contents of ORSA summary report  A. The ORSA summary report shall be prepared consistent with the ORSA Guidance Manual, subject to the requirements of Subsection B of this Section. Documentation and supporting information shall be maintained and made available upon examination by or request of the commissioner.  B. The review of the ORSA summary report, and any additional requests for information, shall be made using similar procedures currently used in the analysis and examination of multistate or global insurers and insurance groups.  Acts 2015, No. 196, §1, eff. Jan. 1, 2016.
LA Rev Stat § 22:691.39 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.39. Sanctions

RS 691.39 - Sanctions  Any insurer failing, without just cause, to timely file the ORSA summary report as required by this Subpart shall be required, after notice and an opportunity to be heard, to pay a penalty of one hundred dollars for each day's delay, to be recovered by the commissioner and the penalty so recovered shall be deposited upon receipt in the state treasury. The maximum penalty under this Section shall be ten thousand dollars. The commissioner may reduce the penalty if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.  Acts 2015, No. 196, §1, eff. Jan. 1, 2016.
LA Rev Stat § 22:691.51 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.51. Purpose and scope

RS 691.51 - Purpose and scope  A. The purpose of this Subpart is to:  (1) Provide the commissioner a summary of an insurer or insurance group's corporate governance structure, policies, and practices to permit the commissioner to gain and maintain an understanding of the insurer's corporate governance framework.  (2) Outline the requirements for completing a corporate governance annual disclosure with the commissioner.  (3) Provide for the confidential treatment of the corporate governance annual disclosure and related information that will contain confidential and sensitive information related to an insurer or insurance group's internal operations and proprietary and trade secret information which, if made public, could potentially cause the insurer or insurance group competitive harm or disadvantage.  B. Nothing in this Subpart shall be construed to prescribe or impose corporate governance standards and internal procedures beyond those required pursuant to this Title or other laws of this state. Notwithstanding any other provision of this Subpart to the contrary, nothing in this Subpart shall be construed to limit the commissioner's authority or the rights or obligations of third parties pursuant to this Title.  C. The requirements of this Subpart shall apply to all insurers domiciled in this state.  Acts 2015, No. 304, §1, eff. Jan. 1, 2016.
LA Rev Stat § 22:691.52 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.52. Definitions

RS 691.52 - Definitions  For purposes of this Subpart:  (1) "Corporate governance annual disclosure" or "CGAD" means a confidential report filed by the insurer or insurance group compiled in accordance with the requirements of this Subpart.  (2) "Insurance group" means those insurers and affiliates included within an insurance holding company system as defined in the Insurance Holding Company System Regulatory Law, R.S. 22:691.1 et seq.  (3) "Insurer" means an insurer as defined in R.S. 22:46, except that it shall not include agencies, authorities, or instrumentalities of the United States, its possessions and territories, the Commonwealth of Puerto Rico, the District of Columbia, or a state or political subdivision of a state.  (4) "NAIC" means the National Association of Insurance Commissioners.  (5) "ORSA summary report" means a confidential high-level summary of an insurer's or insurance group's own risk and solvency assessment.  Acts 2015, No. 304, §1, eff. Jan. 1, 2016.
LA Rev Stat § 22:691.53 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.53. Disclosure requirement

RS 691.53 - Disclosure requirement  A. An insurer, or the insurance group of which the insurer is a member, shall, no later than June first of each calendar year, submit to the commissioner a corporate governance annual disclosure (CGAD) that contains the information specified in R.S. 22:691.55. Notwithstanding any request from the commissioner made pursuant to Subsection C of this Section, if the insurer is a member of an insurance group, the insurer shall submit the report required by this Section to the commissioner of the lead state for the insurance group, in accordance with the laws of the lead state, as determined by the procedures outlined in the most recent Financial Analysis Handbook adopted by the NAIC.  B. The CGAD shall include a signature of the insurer's or insurance group's chief executive officer or corporate secretary attesting to the best of that individual's belief and knowledge that the insurer has implemented the corporate governance practices and that a copy of the disclosure has been provided to the insurer's board of directors or its appropriate committee.  C. An insurer not required to submit a CGAD under this Section shall do so upon the commissioner's request.  D. For purposes of completing the CGAD, the insurer or insurance group may provide information regarding corporate governance at the ultimate controlling parent level, an intermediate holding company level, or the individual legal entity level, depending upon how the insurer or insurance group has structured its system of corporate governance. The insurer or insurance group shall be encouraged to make the CGAD disclosures at the level at which the insurer's or insurance group's risk appetite is determined, or at which the earnings, capital, liquidity, operations, and reputation of the insurer are overseen collectively and at which the supervision of those factors are coordinated and exercised, or the level at which legal liability for failure of general corporate governance duties would be placed. If the insurer or insurance group determines the level of reporting based on these criteria, it shall indicate which of the three criteria was used to determine the level of reporting and explain any subsequent changes in the level of reporting.  E. The review of the CGAD and any additional requests for information shall be made through the lead state as determined by the procedures outlined in the most recent Financial Analysis Handbook specified in Subsection A of this Section.  F. Insurers providing information substantially similar to the information required by this Subpart in other documents provided to the commissioner, including proxy statements filed in conjunction with Form B requirements or other state or federal filings provided to the commissioner, shall not be required to duplicate that information in the CGAD but shall be required only to make reference to the document in which such information is included.  Acts 2015, No. 304, §1, eff. Jan. 1, 2016.
LA Rev Stat § 22:691.54 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.54. Rules and regulations

RS 691.54 - Rules and regulations  Pursuant to the Administrative Procedure Act and this Title, the commissioner may promulgate rules, regulations, and orders necessary to carry out the provisions of this Subpart.  Acts 2015, No. 304, §1, eff. Jan. 1, 2016.
LA Rev Stat § 22:691.55 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§691.55. Contents of corporate governance annual disclosure

RS 691.55 - Contents of corporate governance annual disclosure  A. The insurer or insurance group shall have discretion over the responses to the CGAD inquiries; however, the CGAD shall contain the material information necessary to permit the commissioner to gain an understanding of the insurer's or insurance group's corporate governance structure, policies, and practices. The commissioner may request additional information deemed material and necessary to provide a clear understanding of the corporate governance policies, the reporting or information system, or controls implementing those policies.  B. Notwithstanding Subsection A of this Section, the CGAD shall be prepared consistently with rules, regulations, and orders promulgated pursuant to R.S. 22:691.54. Documentation and supporting information shall be maintained and made available upon examination or upon request of the commissioner.  Acts 2015, No. 304, §1, eff. Jan. 1, 2016.