reglab/housing_qa huggingface dataset:
LA Rev Stat § 22:95 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§95. Existing insurers: capital requirements and powers

RS 95 - Existing insurers: capital requirements and powers  A. Any domestic stock insurer incorporated prior to 12:00 noon of October 1, 1948 is hereby brought under all the provisions of this Code except that its capital may continue in the amount named in its articles of incorporation during the existing term thereof and it shall have such powers as it possessed prior to October 1, 1948 except as provided in Sub-section B of this Section. B. In the event any such insurer desires to enlarge its insuring powers to incorporate additional kinds of insurance not included in its articles of incorporation as of 12:00 noon on October 1, 1948 the capital of such insurer must be increased to meet the full requirements of this Code. C. This Section shall not apply to those insurers within the terms of R.S. 22:134 and  22:148. Acts 1958, No. 125; Redesignated from R.S. 22:84 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:96 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§96. Voluntary dissolution

RS 96 - Voluntary dissolution A. A domestic insurer may, after a two-thirds affirmative vote of its stockholders, policyholders or subscribers, voluntarily discontinue its business and dissolve its corporate existence by: (1) consolidation or merger; (2) reinsuring its entire business under Subpart E of Part III of this Chapter, R.S. 22:651, et seq.; or (3) cancelling its policy obligations and refunding the pro rata unearned premiums thereon, except as to its life insurance contracts, which shall be reinsured pursuant to Subpart E of Part III of this Chapter. After adequate provision has been made for the protection of its policyholders and creditors, such domestic insurer may petition the commissioner of insurance to distribute its remaining assets to its stockholders, policyholders, or subscribers as may be provided in a dissolution agreement. No such plan of voluntary dissolution under this Section shall be effective until approved in writing by the commissioner of insurance. B. When the commissioner of insurance has determined that all the proper steps have been taken and that adequate provision has been made to protect the policyholders and creditors of the retiring insurer, he shall issue a formal certificate of dissolution to such insurer. Acts 1958, No. 125; Redesignated from R.S. 22:764 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 503, §1.
LA Rev Stat § 22:111 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§111. Surplus requirements; applicants prior to September 1, 1989

RS 111 - Surplus requirements; applicants prior to September 1, 1989 A. Domestic mutual insurers who apply for a certificate of authority prior to September 1, 1989, may transact the following kinds of insurance in this state upon qualifying therefor and by having an initial minimum surplus represented by assets as follows: Initial Minimum Insurance Surplus (1) Life $ 300,000 (2) Health and accident 300,000 (1) and (2) above 300,000 (3) Vehicle 1,000,000 (4) Liability 1,000,000 (5) Workers' compensation (a) Any company organized and authorized to transact workers' compensation only on or before July 27, 1966 150,000 (b) Any company organized and authorized to transact workers' compensation only after July 27, 1966 1,000,000 (6) Burglary and forgery 1,000,000 (7) Fidelity 1,000,000 (8) Title 75,000 (9) Fire and allied lines 1,000,000 (10) Steam boiler and sprinkler leakage 1,000,000 (11) Crop (a) Any company organized and authorized to transact crop insurance only on or before July 27, 1966 250,000 (b) Any company organized and authorized to transact crop insurance only after July 27, 1966 1,000,000 (12) Marine and transportation (except hull) 1,000,000 (13) Miscellaneous 1,000,000 (14) Homeowners' insurance 1,000,000 (15) Credit life, health, and accident insurance 300,000 (16) Credit property and casualty insurance 1,000,000 (17) Annuity 300,000 (18) Surety 1,000,000 (19) Industrial fire 300,000 (20) All insurances, except life and title 1,000,000 B. Authority shall be granted mutual insurers upon compliance with all applicable requirements to transact combinations of kinds of insurance except as follows: (1) An insurer authorized to transact life insurance shall not be authorized to transact any additional kind of insurance other than: (a) Health and accident insurance. (b) Annuity. (c) Credit life, health, and accident insurance. (2) An insurer authorized to transact title insurance shall not be authorized to transact any additional kind of insurance. C. Domestic mutual insurers who apply for a certificate of authority on or after September 1, 1989, shall meet the initial minimum surplus and operating surplus requirements and other requirements of R.S. 22:112. Acts 1958, No. 125. Amended by Acts 1958, No. 103, §1; Acts 1962, No. 49, §1; Acts 1966, No. 71, §1; Acts 1980, No. 471, §1; Acts 1980, 2nd Ex.Sess., No. 5, §1, eff. Sept. 15, 1980; Acts 1983, 1st Ex.Sess., No. 1, §6; Acts 1985, No. 504, §1; Acts 1989, No. 561, §1; Redesignated from R.S. 22:121 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 326, §1, eff. Jan. 1, 2010; Acts 2009, No. 503, §1.
LA Rev Stat § 22:112 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§112. Surplus requirements; applicants on and after September 1, 1989

RS 112 - Surplus requirements; applicants on and after September 1, 1989 A. Domestic mutual insurers who apply for a certificate of authority on or after September 1, 1989, may transact the following kinds of insurance in this state upon qualifying therefor and by having an initial minimum surplus and operating surplus represented by assets as follows: Initial Minimum Operating Insurance Surplus Surplus (1) Life $2,000,000 $1,000,000 (2) Health and accident 2,000,000 1,000,000 (1) and (2) above 2,000,000 1,000,000 (3) Vehicle 2,000,000 1,000,000 (4) Liability 2,000,000 1,000,000 (5) Workers' compensation 2,000,000 1,000,000 (6) Burglary and forgery 2,000,000 1,000,000 (7) Fidelity 2,000,000 1,000,000 (8) Title 500,000 500,000 (9) Fire and allied lines 2,000,000 1,000,000 (10) Steam boiler and sprinkler leakage 2,000,000 1,000,000 (11) Crop 2,000,000 1,000,000 (12) Marine and transportation (except hull) 2,000,000 1,000,000 (13) Miscellaneous 2,000,000 1,000,000 (14) Homeowners' insurance 2,000,000 1,000,000 (15) Credit life, health, and accident insurance 2,000,000 1,000,000 (16) Credit property and casualty insurance 2,000,000 1,000,000 (17) Annuity 2,000,000 1,000,000 (18) Surety 2,000,000 1,000,000 (19) Industrial fire 1,000,000 1,000,000 (20) All insurances, except life and title 2,000,000 1,000,000 B. Authority shall be granted mutual insurers upon compliance with all applicable requirements to transact combinations of kinds of insurance except as follows: (1) An insurer authorized to transact life insurance shall not be authorized to transact any additional kind of insurance other than: (a) Health and accident insurance. (b) Annuity. (c) Credit life, health, and accident insurance. (2) An insurer authorized to transact title insurance shall not be authorized to transact any additional kinds of insurance. C. For the purposes of this Section, assets representing at least fifty percent of the operating surplus shall be maintained in cash or cash equivalents prescribed by the commissioner. Acts 1989, No. 561, §1; Redesignated from R.S. 22:121.1 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 326, §1, eff. Jan. 1, 2010; Acts 2009, No. 503, §1.
LA Rev Stat § 22:113 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§113. Additional surplus

RS 113 - Additional surplus  The commissioner may require a domestic mutual insurer to have and maintain a greater amount of surplus than prescribed in R.S. 22:111 or 112, based upon the type, volume, and nature of insurance business transacted. The commissioner is authorized to promulgate such rules and regulations as he may deem necessary to carry out the provisions of this Section. Acts 1992, No. 811, §1; Redesignated from R.S. 22:121.2 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:114 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§114. Hull insurance

RS 114 - Hull insurance  A. For the purposes of this Section, "hull insurance" is that part of marine and transportation insurance limited to the total or partial loss of a commercial fishing vessel and any tackle, fittings, equipment, stores, boats, furniture, machinery, and appurtenances thereon due to any natural or man-made causes. B. A nonprofit domestic mutual insurer organized to provide hull insurance, in whole or in part, is exempted from the surplus requirements listed in R.S. 22:111(A)(17). Such insurer may provide hull insurance, in whole or in part, not to exceed the amount of paid-in surplus, but in no case shall the minimum surplus be less than one hundred thousand dollars. C. The insurer under this Section may provide hull insurance in any amount and for any coverage as the bylaws or charter of the insurer provide. D. The insurer under this Section shall conform to all applicable provisions of this Title and all rules and regulations of the commissioner of insurance. Acts 1985, No. 504, §1; Redesignated from R.S. 22:122 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:115 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§115. Surplus to be paid in cash

RS 115 - Surplus to be paid in cash  The initial minimum surplus of any insurer shall be paid in cash within twelve months from the date of its charter and no policies shall be issued by it until the total amount required by law and specified in the charter is paid-in. A majority of the directors shall certify under oath that this requirement has been met and that the money paid-in is held as assets of the insurer to be invested as required by this Code. Acts 1958, No. 125; Redesignated from R.S. 22:123 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:116 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§116. Methods of acquiring surplus

RS 116 - Methods of acquiring surplus The initial minimum sum required may be raised by the insurer in either of the following manners: (1) By payment in advance of premiums by persons who desire to become policyholders and members of the mutual insurer. Such payments must be made in cash, and all sums so received shall be delivered in escrow to a depository satisfactory to the commissioner of insurance under an escrow agreement providing that the organizers or promoters of the mutual insurer shall not be entitled to withdraw such sums so deposited in escrow until sufficient initial minimum surplus shall have been raised within the prescribed period of time as provided by R.S. 22:115, and further containing a provision that in case sufficient funds have not been raised within the said prescribed period, all funds so deposited in escrow shall be refunded to the advance premium payors by the escrow agent. (2) The mutual insurer may borrow a sum of money sufficient to defray the reasonable expenses of its organization and to meet the requirements of R.S. 22:111 upon an agreement with the lender that the same, with interest at a rate not exceeding eight percent per annum, shall be repaid only in the event that after such repayment with interest, the insurer shall be left possessed of sufficient assets to meet all of its liabilities and to maintain a full reserve against all its policies and to maintain the minimum surplus required by R.S. 22:111. Such agreement shall provide that the insurer shall have the option to make such payment of the loan or any part thereof whenever it shall be able to do so in accordance with the requirements of this Section. Acts 1958, No. 125. Amended by Acts 1962, No. 48, §1; Redesignated from R.S. 22:124 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 503, §1.
LA Rev Stat § 22:117 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§117. Dividends

RS 117 - Dividends No domestic mutual insurer shall pay any dividends to its policyholders unless it has a surplus beyond the initial minimum surplus required and all other liabilities, except a liability created under R.S. 22:116(2), equal to fifteen percent of such initial minimum surplus. Acts 1958, No. 125; Redesignated from R.S. 22:125 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 503, §1.
LA Rev Stat § 22:118 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§118. Impairment of surplus; how made good

RS 118 - Impairment of surplus; how made good  Any impairment in the initial minimum surplus required of a mutual insurer may be made good by funds obtained in accordance with R.S. 22:116(2), provided the transaction is submitted to and approved by the commissioner of insurance. Acts 1958, No. 125; Redesignated from R.S. 22:126 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:119 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§119. Policyholders' meetings; voting rights; proxies

RS 119 - Policyholders' meetings; voting rights; proxies  A. Domestic mutual insurers shall hold at least one policyholders' meeting annually at a time and place, including by remote means, specified in the charter or bylaws of the insurer.  B. Each policyholder shall be entitled to vote on matters coming before corporate meetings of the policyholders, unless the insurer's charter or bylaws provides that the right of a policyholder to vote is subject to reasonable minimum requirements as to duration of the policy or the insurance held, amount of premiums paid, amount of insurance held, or any combination thereof.  C. If a policyholder is entitled to vote on matters coming before corporate meetings of the policyholders pursuant to Subsection B of this Section, the policyholder shall be entitled to one vote, unless the insurer's charter or bylaws provides otherwise, based on a classification of policyholders as to duration of the policy or insurance held, the amount of premiums paid, amount of insurance held, or any combination thereof.  D. The right to vote by any policyholder may be conferred upon any other policyholder by a written proxy. Any proxy may be revoked at any time by the policyholder, upon written notice to the secretary of the insurer or the presiding officer at any meeting.  Acts 1958, No. 125; Redesignated from R.S. 22:127 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 503, §1; Acts 2021, No. 15, §1.
LA Rev Stat § 22:120 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§120. Elections of officers and directors

RS 120 - Elections of officers and directors Election of officers and directors shall be made in the manner specified in the charter or bylaws of the insurer, provided that: (1) Each policyholder shall be entitled to one vote in accordance with the provisions of R.S. 22:119; (2) At least a majority of the directors shall be policyholders of the insurer; (3) Each director, before being qualified to act, shall file with the secretary of the company a written acceptance of his trust; (4) Vacancies in the board of directors are to be filled by the directors or the policyholders as the charter or bylaws of the insurer may provide; (5) Directors may call special meetings of the policyholders whenever they deem it proper and must call such a meeting upon the written application of the owners of one-tenth of the amount of insurance in force as of the preceding December thirty-first report of the insurer; (6) The board of directors shall meet at least six times a year and as often as may be required in the bylaws of the company; (7) The directors shall annually elect a president, who shall be a member of the board, a secretary, and such other officers as the charter or bylaws may provide. However, the directors of a risk retention insurer to which the laws of this Subpart apply shall annually elect from the nonpolicy holder directors a president, a secretary, and such other officers as the charter or bylaws may provide. Acts 1958, No. 125. Amended by Acts 1964, No. 134, §1; Acts 1989, No. 689, §1; Redesignated from R.S. 22:128 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 503, §1.
LA Rev Stat § 22:121 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§121. Duties of officers

RS 121 - Duties of officers  The president or, in his absence, the one so designated to act for him, shall preside at all meetings of the directors and of the policyholders, unless otherwise provided in the charter or bylaws. The secretary shall keep a record of the votes and proceedings of all meetings of the directors and policyholders. The secretary, or other authorized officer, shall keep a record of the policyholders, and of all policies issued and all authorized assignments, cancellations and transfers thereof. He shall keep such other books and perform such other duties as the president and directors may require. The intentional making of any false record by the secretary or any other officer of the insurer shall be deemed an act of perjury. Acts 1958, No. 125. Amended by Acts 1974, No. 4, §1; Redesignated from R.S. 22:129 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009. NOTE: Former R.S. 22:121 redesignated as R.S. 22:111 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:121.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§121.1. Redesignated as R.S. 22:112 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.

RS 121.1 - Redesignated as R.S. 22:112 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:121.2 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§121.2. Redesignated as R.S. 22:113 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.

RS 121.2 - Redesignated as R.S. 22:113 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:122 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§122. Non-assessable policies; authority to issue

RS 122 - Non-assessable policies; authority to issue  Except as provided in R.S. 22:114, any domestic mutual insurer not organized under the legal reserve plan for the writing of life insurance, as defined under R.S. 22:47(1), authorized so to do by its charter may issue policies without contingent mutual liability of the policyholder for assessment upon approval of the commissioner of insurance and upon compliance with the following requirements:  (1) It shall have and at all times maintain a surplus as determined from its last annual statement, which is at least equal to the minimum capital and the paid-in surplus required on organization of a domestic stock insurer organized under the provisions of this Code. (2) It shall have submitted a copy of its proposed non-assessable policy or policies for approval of the commissioner of insurance and shall have obtained his approval thereof. Acts 1958, No. 125; Redesignated from R.S. 22:131 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009. NOTE: Former R.S. 22:122 redesignated as R.S. 22:114 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:123 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§123. Policyholders' liability

RS 123 - Policyholders' liability  A. Except as to non-assessable policies, any contract of insurance issued by a mutual insurer shall provide for the contingent liability of the subscriber for payment of actual losses and expenses incurred while such contract was in force. Such contingent liability shall be in an amount as specified in the by-laws but not less than one annual premium. B. Each assessable policy issued by the insurer shall plainly set forth a statement of the contingent liability. C. The contingent liability of each policyholder for the obligations of a mutual insurer shall not be joint but shall be individual and several. Acts 1958, No. 125; Redesignated from R.S. 22:132 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009. NOTE: Former R.S. 22:123 redesignated as R.S. 22:115 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:124 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§124. Domestic nonprofit mutual associations; insurer

RS 124 - Domestic nonprofit mutual associations; insurer Notwithstanding any law, regulation, or definition to the contrary, a domestic nonprofit mutual association, as defined in this Section, is deemed to be an insurer for the purposes of all surplus requirements, policy reserve requirements, and liquidation, conservation, rehabilitation, and receivership proceedings all as defined and set out in this Title. For purposes of this Section, a domestic nonprofit mutual association shall include a domestic nonprofit mutual association which is engaged exclusively in the business of furnishing hospital service, medical, or surgical benefits, or any similar entity. Acts 1994, 3rd Ex. Sess., No. 92, §1; Redesignated from R.S. 22:133 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 503, §1. NOTE: Former R.S. 22:124 redesignated as R.S. 22:116 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:125 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§125. Redesignated as R.S. 22:117 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.

RS 125 - Redesignated as R.S. 22:117 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:126 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§126. Redesignated as R.S. 22:118 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.

RS 126 - Redesignated as R.S. 22:118 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:127 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§127. Redesignated as R.S. 22:119 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.

RS 127 - Redesignated as R.S. 22:119 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:128 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§128. Redesignated as R.S. 22:120 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.

RS 128 - Redesignated as R.S. 22:120 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:129 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§129. Redesignated as R.S. 22:121 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.

RS 129 - Redesignated as R.S. 22:121 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:131 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§131. Service insurance defined

RS 131 - Service insurance defined  Service insurance is hereby defined and shall be construed to be that insurance for which stipulated premiums are regularly payable and collectible and the policies or benefit certificates for which:  (1) Promise or agree to furnish the insured a funeral, the value of which shall not exceed five hundred dollars, or  (2) Promise or agree to furnish hospitalization to the insured upon his sickness or other physical disability, not exceeding five hundred dollars in any policy year. Acts 1958, No. 125; Redesignated from R.S. 22:291 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009. NOTE: Former R.S. 22:131 redesignated as R.S. 22:122 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.