reglab/housing_qa huggingface dataset:
LA Rev Stat § 22:573 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§573. Limits of risks assumed

RS 573 - Limits of risks assumed  No property and casualty insurer doing business in this state shall expose itself to loss on any one risk in an amount which exceeds ten percent of the insurer's capital and surplus. A risk, or any portion thereof, which has been reinsured shall be deducted in determining the limitation of risk prescribed in this Section. Acts 1991, No. 960, §1; Acts 1992, No. 811, §1; Redesignated from R.S. 22:1470 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:575 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§575. Redesignated as R.S. 22:314 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.

RS 575 - Redesignated as R.S. 22:314 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:576 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§576. Redesignated as R.S. 22:315 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.

RS 576 - Redesignated as R.S. 22:315 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:577 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§577. Redesignated as R.S. 22:316 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.

RS 577 - Redesignated as R.S. 22:316 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:578 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§578. Redesignated as R.S. 22:317 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.

RS 578 - Redesignated as R.S. 22:317 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
LA Rev Stat § 22:581 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§581. Authorized investments

RS 581 - Authorized investments  The capital, surplus, assets and other funds of insurers organized under the laws of this state shall be invested as provided in this Subpart and not otherwise. NOTE: §581 as repealed by Acts 2021, No. 165, eff. Jan. 1, 2022. RS 581 - Repealed by Acts 2021, No. 165, §3, eff. Jan. 1, 2022.  Acts 1958, No. 125; Redesignated from R.S. 22:841 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2021, No. 165, §3, eff. Jan. 1, 2022.
LA Rev Stat § 22:582 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§582. General qualifications

RS 582 - General qualifications  No security or other investment shall be eligible for purchase or acquisition under this Subpart unless it is interest bearing or interest accruing or dividend or income paying or eligible for dividends or income, is not then in default in any respect, and the insurer is entitled to receive for its exclusive account and benefit, the interest or income accruing thereon; except that it may acquire real property for occupancy by the insurer for home and branch office purposes, and as provided in R.S. 22:584 and 588. No security shall be eligible for purchase at a price above its market value. NOTE: §582 as repealed by Acts 2021, No. 165, eff. Jan. 1, 2022. RS 582 - Repealed by Acts 2021, No. 165, §3, eff. Jan. 1, 2022.  Acts 1958, No. 125; Acts 2001, No. 61, §1; Redesignated from R.S. 22:842 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2021, No. 165, §3, eff. Jan. 1, 2022.
LA Rev Stat § 22:583 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§583. General limitation on investment in obligations of any one person

RS 583 - General limitation on investment in obligations of any one person  An insurer shall not, except with the consent of the commissioner of insurance, have at any time any combination of investments in or loans upon the security of the obligations, property, and securities of any one person or institution aggregating an amount exceeding five percent of the insurer's assets, except in the case of mortgage loans as provided in R.S. 22:584(A)(5) and in case of investments in stocks of corporations owning funeral homes as provided in R.S. 22:584(C). This Section shall not apply to investments in, or loans upon the security of general obligations of the government of the United States or of any state or territory of the United States, or the District of Columbia nor to investments in foreign securities pursuant to R.S. 22:589(A), nor include policy loans made pursuant to R.S. 22:584(E). NOTE: §583 as repealed by Acts 2021, No. 165, eff. Jan. 1, 2022. RS 583 - Repealed by Acts 2021, No. 165, §3, eff. Jan. 1, 2022.  Acts 1958, No. 125; Redesignated from R.S. 22:843 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 503, §1; Acts 2021, No. 165, §3, eff. Jan. 1, 2022.
LA Rev Stat § 22:585 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§585. Investment in mortgages; interest rate

RS 585 - Investment in mortgages; interest rate  Notwithstanding any other provision of law to the contrary, a domestic insurer shall be entitled to the same benefits and exemptions relative to state usury laws, specifically R.S. 9:3503 and Louisiana Civil Code Article 2924, granted to banks and savings and loan associations pursuant to Title V of the 1980 Depository Institutions Deregulation and Monetary Control Act, as amended. The rate of interest shall be fixed in writing, and testimonial proof of it shall not be admitted in any case. NOTE: §585 as repealed by Acts 2021, No. 165, eff. Jan. 1, 2022. RS 585 - Repealed by Acts 2021, No. 165, §3, eff. Jan. 1, 2022.  Added by Acts 1981, No. 680, §1; Redesignated from R.S. 22:844.1 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2021, No. 165, §3, eff. Jan. 1, 2022.
LA Rev Stat § 22:587 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§587. Loaning of securities

RS 587 - Loaning of securities  A. A domestic insurer may lend securities held by it to any member of the Financial Industry Regulatory Authority having a net worth of at least one hundred million dollars, under this Subpart, if:  (1) Simultaneously with the delivery of the securities, the insurer receives from the borrower collateral consisting of cash or of securities issued, assumed, or guaranteed by the United States, by any agency of the United States, or by any state having a present market value including accrued interest of not less than one hundred two percent of the then market value of the securities loaned.  (2) The securities are loaned only for the purpose of making delivery of securities in the case of short sales, in the case of failure to receive securities requested for delivery, or in other similar cases.  (3) The borrower furnishes the insurer, or a custodian of the insurer, prior to the loan the most recent statement of the borrower's financial condition and a representation by the borrower that there has been no material adverse change in its financial condition since the date of that statement.  (4) The insurer receives a reasonable fee related to the value of the borrowed securities and to the duration of the loan.  (5) The loan is made pursuant to a written loan agreement.  (6) The borrower is required to furnish by the close of each business day during the term of the loan a report of the market value of all collateral and the market value of all borrowed securities as of the close of trading on the previous business day. If at the close of any business day the market value of the collateral is less than one hundred two percent of the market value of the securities loan, then the borrower is required to deliver by the close of the next business day an additional amount of cash or securities, the market value of which, together with the market value of all previously delivered collateral, equals at least one hundred two percent of the market value of the securities loaned. Securities on loan that clear through the Federal Reserve System shall be marked to market when the collateral level is less than one hundred percent. At that time, a one hundred two percent margin shall be reestablished by close of the next business day.  B. Securities used for collateral in this Section must not be in default, and the entity which issued, assumed, or guaranteed the security shall not be in default in the payment of its debt securities, either principal or interest, while the securities are used as collateral for securities loaned. NOTE: §587 as repealed by Acts 2021, No. 165, eff. Jan. 1, 2022. RS 587 - Repealed by Acts 2021, No. 165, §3, eff. Jan. 1, 2022.  Acts 1984, No. 591, §1; Acts 2003, No. 126, §1; Redesignated from R.S. 22:844.3 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2010, No. 7, §3, eff. May 19, 2010; Acts 2021, No. 165, §3, eff. Jan. 1, 2022.
LA Rev Stat § 22:590 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§590. When restrictions not applicable

RS 590 - When restrictions not applicable  A. The restrictions of R.S. 22:584 and 588 shall not apply to securities or other assets acquired through merger or consolidation with any other insurer or through a reinsurance agreement, if such assets when originally acquired constituted legal investments for the merged, consolidated, or ceding insurer which acquired them, nor shall such provisions apply to securities, obligations or other assets accepted incident to the adjustment or realization of any debt or investment when deemed by the board of directors or investment committee to be in the best interests of the insurer.  B. The commissioner of insurance, upon application by the insurer, may extend the time for the disposition of such securities, obligations or other assets for such period or periods as he may deem proper on the showing made, if such insurer may suffer materially by the forced sale thereof. An aggrieved party affected by the commissioner's decision, act, or order may demand a hearing in accordance with Chapter 12 of this Title, R.S. 22:2191 et seq. NOTE: §590 as repealed by Acts 2021, No. 165, eff. Jan. 1, 2022. RS 590 - Repealed by Acts 2021, No. 165, §3, eff. Jan. 1, 2022.  Acts 1958, No. 125; Redesignated from R.S. 22:847 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 317, §1; Acts 2009, No. 503, §1; Acts 2021, No. 165, §3, eff. Jan. 1, 2022.
LA Rev Stat § 22:591 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§591. Excessive commissions prohibited; interest of officers and directors

RS 591 - Excessive commissions prohibited; interest of officers and directors  A. No domestic insurer shall pay any commission or brokerage for the purchase or sale of property in excess of that usual and customary at the time and in the locality where such purchases or sales are made, and information regarding all payments of commissions and brokerage shall be reported in the next annual statement.  B. No such insurer shall invest in or loan upon any real estate which is owned or partly owned by any officer or director of such insurer, nor shall any such insurer invest in or loan upon any bond or note secured by mortgage or trust deed on real estate if an officer or director of such insurer is owner or part owner of the real estate upon which the loan is made.  C. Any officer or director knowingly participating in or abetting the violation of any provision of this Section where fraud is shown to exist shall be fined not less than one thousand dollars nor more than ten thousand dollars or imprisoned not more than ten years, or both. NOTE: §591 as repealed by Acts 2021, No. 165, eff. Jan. 1, 2022. RS 591 - Repealed by Acts 2021, No. 165, §3, eff. Jan. 1, 2022.  Acts 1958, No. 125; Redesignated from R.S. 22:848 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2021, No. 165, §3, eff. Jan. 1, 2022.
LA Rev Stat § 22:592 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§592. Authorization of investments

RS 592 - Authorization of investments  No investment, loan, sale or exchange thereof shall, except as to the policy loans of a life insurer, be made by any domestic insurer unless authorized or approved by its board of directors or by a committee thereof or by a director authorized by such committee or charged by the board of directors or by the by-laws with the duty of making such investments, loan, sale or exchange. The minutes of any such committee shall be recorded and reports thereof shall be submitted to the board of directors for approval or disapproval. NOTE: §592 as repealed by Acts 2021, No. 165, eff. Jan. 1, 2022. RS 592 - Repealed by Acts 2021, No. 165, §3, eff. Jan. 1, 2022.  Acts 1958, No. 125; Redesignated from R.S. 22:849 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2021, No. 165, §3, eff. Jan. 1, 2022.
LA Rev Stat § 22:593 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§593. Record of investments

RS 593 - Record of investments  A. As to each investment or loan of the funds of a domestic insurer, a written authorization thereof in permanent form shall be made and signed by the officer or chairman of such committee authorizing the investment or loan.  B. As to each such investment or loan, the insurer's records shall contain:  (1) In the case of loans: the name of the borrower; the location and legal description of the property; a physical description and the appraised value of the security; and the amount of the loan, rate of interest, and terms of repayment.  (2) In the case of securities: the name of the obligor and a description of the security, the amount invested, the rate of interest or dividend, and the maturity and yield based upon the purchase price.  (3) In the case of real estate: the location and legal description of the property; a physical description and the appraised value; and the purchase price and terms.  (4) In the case of all investments:  (a) The amount of expenses estimated, if details are not available and commissions if any are incurred on account of any investment or loan, and by whom and to whom payable if not covered by contracts with mortgage loan representatives or correspondents which are part of the insurer's records.  (b) The name of any officer or director of the insurer having any direct, indirect, or contingent interest in the securities or loan representing the investment, or in the assets of the person in whose behalf the investment or loan is made, and the nature of such interest. NOTE: §593 as repealed by Acts 2021, No. 165, eff. Jan. 1, 2022. RS 593 - Repealed by Acts 2021, No. 165, §3, eff. Jan. 1, 2022.  Acts 1958, No. 125; Redesignated from R.S. 22:850 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 503, §1; Acts 2021, No. 165, §3, eff. Jan. 1, 2022.
LA Rev Stat § 22:594 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§594. Investments of foreign, alien insurers

RS 594 - Investments of foreign, alien insurers  The investments of a foreign or alien insurer shall be as permitted by the laws of its domicile but shall be of a quality substantially as high as those required under this Subpart for similar funds of like domestic insurers. NOTE: §594 as repealed by Acts 2021, No. 165, eff. Jan. 1, 2022. RS 594 - Repealed by Acts 2021, No. 165, §3, eff. Jan. 1, 2022.  Acts 1958, No. 125; Redesignated from R.S. 22:851 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2021, No. 165, §3, eff. Jan. 1, 2022.
LA Rev Stat § 22:595 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§595. Repealed by Acts 2009, No. 503, §2.

RS 595 - Repealed by Acts 2009, No. 503, §2.
LA Rev Stat § 22:596 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§596. Acquisition and holding of real property by domestic insurers in foreign countries

RS 596 - Acquisition and holding of real property by domestic insurers in foreign countries  A. An insurer authorized to transact insurance in a foreign country may acquire and hold real property such as shall be requisite for the convenient accommodation of the transacting of its own business in any such country and such property may include additional space to be rented or leased to third parties for the purpose of producing income to help defray the cost of acquisition, construction, and maintenance of the building, as well as a return on the investment in addition to that derived from the company's own use of a portion of the property. The investment in such a building shall not exceed ten percent of the company's assets in such country and must be built from funds arising from the transaction of business in such country.  B. Such property shall be considered as a foreign security within the meaning of R.S. 22:589. The investment in such property shall also be included, together with that of other real estate held under the terms of R.S. 22:588 in determining whether or not there has been compliance with the limit on investments fixed by R.S. 22:588(A)(1). NOTE: §596 as repealed by Acts 2021, No. 165, eff. Jan. 1, 2022. RS 596 - Repealed by Acts 2021, No. 165, §3, eff. Jan. 1, 2022.  Acts 1958, No. 125; Redesignated from R.S. 22:853 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 503, §1; Acts 2021, No. 165, §3, eff. Jan. 1, 2022.
LA Rev Stat § 22:597 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§597. Pledging of assets restricted; penalties

RS 597 - Pledging of assets restricted; penalties  A. It shall be unlawful for any insurance company domiciled in this state to pledge its assets solely to secure a personal loan, other than a policy loan based on the contractual terms of a policy of insurance issued by the company, if the loan is solely for the personal benefit of any officer, director, or employee. Nothing herein shall be construed to limit the right of an insurance company to pledge any or all of its assets to secure loans in the ordinary course of its business and for the company's business purposes and to obtain, as further security therefor, the guarantee, personal or otherwise, of any officer, director, or employee. The commissioner may bring an action to recover and conserve any asset pledged in violation of this Section.  B. Any company or any officer, director, or employee violating this Section may be fined not more than ten thousand dollars for each violation, and the officer, director, or employee may be removed from such office, position, capacity, or relationship with the company. NOTE: §597 as repealed by Acts 2021, No. 165, eff. Jan. 1, 2022. RS 597 - Repealed by Acts 2021, No. 165, §3, eff. Jan. 1, 2022.  Acts 1987, No. 311, §1; Redesignated from R.S. 22:854 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2021, No. 165, §3, eff. Jan. 1, 2022.
LA Rev Stat § 22:600 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§600. Valuation of investments

RS 600 - Valuation of investments  A. All securities owned by a domestic insurance company shall be valued in accordance with the standards promulgated by the Securities Valuation Office of the National Association of Insurance Commissioners.  B. Any other invested assets of domestic insurers shall be valued in accordance with procedures promulgated by the financial condition subcommittee of the National Association of Insurance Commissioners. NOTE: §600 as repealed by Acts 2021, No. 165, eff. Jan. 1, 2022. RS 600 - Repealed by Acts 2021, No. 165, §3, eff. Jan. 1, 2022.  Acts 1992, No. 811, §1; Redesignated from R.S. 22:857 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2021, No. 165, §3, eff. Jan. 1, 2022.
LA Rev Stat § 22:601.5 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§601.5. Valuation of investments

RS 601.5 - Valuation of investments  The value or amount of an investment acquired or held, or an investment practice engaged in, pursuant to this Subpart, unless otherwise specified in this Title, shall be the value at which assets of an insurer are required to be reported for statutory accounting purposes as determined in accordance with procedures prescribed in published accounting and valuation standards of the NAIC, including the Purposes and Procedures Manual of the Securities Valuation Office of the NAIC, the Accounting Practices and Procedures Manual, the Annual Statement Instructions, or any successor valuation procedures officially adopted by the NAIC.  Acts 2021, No. 165, §1, eff. Jan. 1, 2022.
LA Rev Stat § 22:601.6 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§601.6. General limitation on investment in obligations of a single person

RS 601.6 - General limitation on investment in obligations of a single person  A. Except as otherwise specified in this Subpart, no insurer shall acquire, except with the consent of the commissioner, an investment pursuant to this Subpart if, as a result of and after giving effect to the investment, the insurer would hold more than five percent of its admitted assets in investments of all kinds issued, assumed, accepted, insured, or guaranteed by a single person.  B. The limitations of Subsection A of this Section shall not apply to the following items:  (1) Investments issued, assumed, guaranteed, or insured by the United States, or a government sponsored enterprise of the United States, if the instruments are otherwise backed or supported by the full faith and credit of the United States.  (2) Investments in, or loans upon the security of, general obligations of any state or territory of the United States, or the District of Columbia.  (3) Investments issued by a listed bond fund.  (4) Investments issued by a multilateral development bank pursuant to R.S. 22:601.12(E).  (5) Mortgage loans as provided in R.S. 22:601.9.  (6) Investments in foreign securities pursuant to R.S. 22:601.12(D).  (7) Policy loans made pursuant to R.S. 22:601.16(3).  (8) Subsidiaries authorized under R.S. 22:691.3.  (9) Mutual funds and exchange-traded funds pursuant to R.S. 22:601.8(C)(2).  C. Asset-backed securities shall not be subject to the limitations of Subsection A of this Section. No insurer shall acquire an asset-backed security if, as a result of and after giving effect to the investment, the aggregate amount of asset-backed securities secured by or evidencing an interest in a single asset or single pool of assets held by a trust or other business entity, then held by the insurer would exceed five percent of its admitted assets.  Acts 2021, No. 165, §1, eff. Jan. 1, 2022.
LA Rev Stat § 22:601.8 (2021)
2021 Louisiana Laws|Revised Statutes|Title 22 - Insurance|§601.8. Equity interests

RS 601.8 - Equity interests  A. An insurer may acquire preferred stocks in any United States business entity if, as a result of and after giving effect to the investment:  (1) Securities of a single issuer and its affiliates, other than the government of the United States and subsidiaries authorized pursuant to R.S. 22:691.3, shall not exceed three percent of admitted assets.  (2) The aggregate amount of preferred stocks then held by the insurer under this Subsection does not exceed twenty-five percent of its admitted assets.  B. An insurer may acquire equity interests in solvent business entities meeting any of the following criteria:  (1) Domiciled in the United States.  (2) Domiciled in a foreign jurisdiction if listed on a qualified exchange.  (3) Permitted pursuant to R.S. 22:601.12.  C. An insurer shall not acquire an investment pursuant to this Section if, as a result of and after giving effect to the investment:  (1) The aggregate amount of investments then held by the insurer under this Section, excluding exchange-traded funds and mutual funds, would exceed fifty percent of its admitted assets, or the amount of equity interests then held by the insurer that are not listed on a qualified exchange would exceed five percent of its admitted assets.  (2) The aggregate amount of exchange-traded fund and mutual fund investments then held by the insurer under this Section would exceed the greater of fifty percent of its admitted assets or one hundred percent of its surplus as regards policyholders. The investment in any one fund shall be limited to ten percent of admitted assets.  D. If the commissioner considers it desirable in order to properly evaluate the investment portfolio of an insurer, the commissioner may require that investments in exchange-traded funds, mutual funds, pooled investment vehicles, or other investment companies be treated for purposes of this Subpart as if the investor owned directly its proportional share of the assets owned by the exchange-traded fund, mutual fund, pooled investment vehicle, or investment company.  Acts 2021, No. 165, §1, eff. Jan. 1, 2022.