reglab/statecodes huggingface dataset:
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 62 - Regulation Number 103-Utilization Review Organizations and Independent Review Organizations › Section XIII-6217 - Severability

Current through Register Vol. 50, No. 6, June 20, 2024
A. If any provision
				or item of this regulation, or the application thereof, is held invalid, such
				invalidity shall not affect other provisions, items, or applications of the
				regulation that can be given effect without the invalid provision, item, or
				application.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:2452.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 62 - Regulation Number 103-Utilization Review Organizations and Independent Review Organizations › Section XIII-6219 - Effective Date

Current through Register Vol. 50, No. 6, June 20, 2024
A. This
				regulation shall become effective upon final publication in the
Louisiana Register.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:2452.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 62 - Regulation Number 103-Utilization Review Organizations and Independent Review Organizations › Section XIII-6221 - Appeals of Adverse Determinations; Standard Appeals [Repealed]

Current through Register Vol. 50, No. 6, June 20, 2024
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:3,
				  22:2014;
				  and 3090, to implement and enforce the following provisions:
				  R.S.
				  22:2021 and Chapter 7 of Title 22 of the
				  Revised Statutes of 1950.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 62 - Regulation Number 103-Utilization Review Organizations and Independent Review Organizations › Section XIII-6223 - Second Level Review [Repealed]

Current through Register Vol. 50, No. 6, June 20, 2024
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:3, 2014; and 3090, to implement and
				  enforce the following provisions:
				  R.S.
				  22:2021 and Chapter 7 of Title 22 of the
				  Revised Statutes of 1950.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 62 - Regulation Number 103-Utilization Review Organizations and Independent Review Organizations › Section XIII-6225 - Request for External Review [Repealed]

Current through Register Vol. 50, No. 6, June 20, 2024
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:3, 2014; and 22:3090, to implement and
				  enforce the following provisions:
				  R.S.
				  22:2021 and Chapter 7 of Title 22 of the
				  Revised Statutes of 1950.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 62 - Regulation Number 103-Utilization Review Organizations and Independent Review Organizations › Section XIII-6227 - Standard External Review [Repealed]

Current through Register Vol. 50, No. 6, June 20, 2024
AUTHORITY NOTE:
				  Promulgated in accordance with La.
				  R.S.
				  22:3, 2014; and 3090, to implement and
				  enforce the following provisions: La.
				  R.S.
				  22:2021 and Chapter 7 of Title 22 of the
				  Revised Statutes of 1950.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 62 - Regulation Number 103-Utilization Review Organizations and Independent Review Organizations › Section XIII-6229 - Expedited Appeals [Repealed]

Current through Register Vol. 50, No. 6, June 20, 2024
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:3, 2014; and 3090, to implement and
				  enforce the following provisions:
				  R.S.
				  22:2021 and Chapter 7 of Title 22 of the
				  Revised Statutes of 1950.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 62 - Regulation Number 103-Utilization Review Organizations and Independent Review Organizations › Section XIII-6231 - Expedited External Review of Urgent Care Requests [Repealed]

Current through Register Vol. 50, No. 6, June 20, 2024
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:3, 2014; and 3090, to implement and
				  enforce the following provisions:
				  R.S.
				  22:2021 and Chapter 7 of Title 22 of the
				  Revised Statutes of 1950.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 62 - Regulation Number 103-Utilization Review Organizations and Independent Review Organizations › Section XIII-6233 - Binding Nature of External Review Decisions [Repealed]

Current through Register Vol. 50, No. 6, June 20, 2024
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:3, 2014; and 3090, to implement and
				  enforce the following provisions:
				  R.S.
				  22:2021 and Chapter 7 of Title 22 of the
				  Revised Statutes of 1950.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 62 - Regulation Number 103-Utilization Review Organizations and Independent Review Organizations › Section XIII-6235 - Minimum Qualifications for Independent Review Organizations [Repealed]

Current through Register Vol. 50, No. 6, June 20, 2024
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:3,
				  22:2014;
				  and 3090, to implement and enforce the following provisions:
				  R.S.
				  22:2021 and Chapter 7 of Title 22 of the
				  Revised Statutes of 1950.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 62 - Regulation Number 103-Utilization Review Organizations and Independent Review Organizations › Section XIII-6237 - External Review Register [Repealed]

Current through Register Vol. 50, No. 6, June 20, 2024
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:3, 2014; and 3090, to implement and
				  enforce the following provisions:
				  R.S.
				  22:2021 and Chapter 7 of Title 22 of the
				  Revised Statutes of 1950.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 62 - Regulation Number 103-Utilization Review Organizations and Independent Review Organizations › Section XIII-6239 - Emergency Services [Repealed]

Current through Register Vol. 50, No. 6, June 20, 2024
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:3, 2014; and 3090, to implement and
				  enforce the following provisions:
				  R.S.
				  22:2021 and Chapter 7 of Title 22 of the
				  Revised Statutes of 1950.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 62 - Regulation Number 103-Utilization Review Organizations and Independent Review Organizations › Section XIII-6241 - Confidentiality Requirements [Repealed]

Current through Register Vol. 50, No. 6, June 20, 2024
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:3,
				  22:2014;
				  and 3090, to implement and enforce the following provisions:
				  R.S.
				  22:2021 and Chapter 7 of Title 22 of the
				  Revised Statutes of 1950.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 62 - Regulation Number 103-Utilization Review Organizations and Independent Review Organizations › Section XIII-6243 - Severability [Repealed]

Current through Register Vol. 50, No. 6, June 20, 2024
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:3, 2014; and 3090, to implement and
				  enforce the following provisions:
				  R.S.
				  22:2021 and Chapter 7 of Title 22 of the
				  Revised Statute of 1950.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 62 - Regulation Number 103-Utilization Review Organizations and Independent Review Organizations › Section XIII-6245 - Effective Date [Repealed]

Current through Register Vol. 50, No. 6, June 20, 2024
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:3, 2014; and 3090, to implement and
				  enforce the following provisions:
				  R.S.
				  22:2021 and Chapter 7 of Title 22 of the
				  Revised Statute of 1950.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 63 - Regulation 17-Reinstatement of Policies (Repealed) › Section XIII-6301 - Policy Directive Number Four to Non-Profit Funeral Associations (Repealed)

Current through Register Vol. 50, No. 6, June 20, 2024
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:336 and
				  22:259(6).
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 65 - Regulation 18- Non-Profit Funeral Service Associations, Reinstatement of Lapsed Policies › Section XIII-6501 - Policy Directive Number Five to Non-Profit Funeral Service Associations

Current through Register Vol. 50, No. 6, June 20, 2024
A. It has
				come to the attention of the Insurance Department that some non-profit funeral
				service associations are now reinstating policies which have been lapsed for
				many years. This is contrary to the insurance laws.
B. A survey of the non-profit association's
				charters and by-laws, if by-laws are on file with the Secretary of State,
				reveals that the most favorable reinstatement provisions allow reinstatement of
				lapsed policies within 90 days from date of lapse, provided all past due
				assessments are paid. In most cases the by-laws are silent with regard to
				reinstatement.
C. Lapsed policies
				may be reinstated only in accordance with the by-laws of the association. A
				policyholder whose policy has lapsed and who is over the age of 70 and under
				the age of 90 may reinstate only in the old age group. In the absence of the
				charter or by-laws pertaining to reinstatement, no lapsed policies may be
				reinstated.
D. All changes in the
				charter or by-laws of non-profit funeral service associations must be approved
				by the Commissioner of Insurance. No amendments to by-laws concerning
				reinstatement of lapsed policies will be approved, which allows for
				reinstatement after 90 days from date of lapse.
E. All non-profit funeral service
				associations must cease reinstating lapsed policies which are issued on the
				assessment plan except in accordance with their present by-laws. This directive
				is effective May 1, 1960.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:2.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 67 - Regulation 19-Inclusion of Burial Plots, Vaults, etc., as Part of Funeral Service-Change in Reserve Basis › Section XIII-6701 - Policy Directive Number Six to All Insurance Issuing Funeral Policies

Current through Register Vol. 50, No. 6, June 20, 2024
A. The provisions
				of House Bill 322 will become effective on or about August 1, 1962. This bill
				amends Section 253 of the Insurance Code by adding Subsection A thereto:
ALL POLICIES, ENDORSEMENTS OR RIDERS NOW IN YOUR POSSESSION
				  WHICH INCLUDE PAYMENT OR FURNISHING OF BURIAL LOT, TOMBSTONE, MARKER, PLOT,
				  TOMB, VAULT OR COPING ARE NOW DISAPPROVED. SUCH CONTRACTS MUST BE RESUBMITTED
				  TO THE INSURANCE DEPARTMENT FOR APPROVAL IN ACCORDANCE WITH THIS
				  DIRECTIVE.
B. For your
				information, the new Section 253 of the Insurance Code will read as follows:
Section 253 -Funeral Described: Cost Provision
Every funeral policy shall state, in dollars, the value of
				  the funeral and shall specify therein those things which shall constitute the
				  funeral to be furnished, and shall provide for a stated cash payment which
				  shall not be less than seventy-five per cent of the value of the funeral as
				  stated in the policy in lieu of such funeral in the event it is impossible or
				  impractical to furnish such services as set forth in the policy.
A. Every funeral policy which includes among
				its benefits the payment for a burial lot, tombstone, marker, plot, tomb, vault
				or coping shall state in dollars the value of the said benefits and shall
				specify herein those things which shall constitute the said benefits to be
				furnished. Such policy shall be valued without the reduction of reserves
				provided for in
				R.S.
				22:162. In the event such services are not
				furnished or paid for by the insurer then the amount of insurance shall be paid
				in cash to the beneficiary by the insurer, at the option of the
				beneficiary.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 71 - Regulation 24-Proxies, Consents and Authorizations of Domestic Stock Insurers › Section XIII-7101 - Application of Regulation

Current through Register Vol. 50, No. 6, June 20, 2024
A. This
				regulation is applicable to each domestic stock insurer which has any class of
				equity security held of record by one hundred or more persons; provided,
				however, that this regulation shall not apply to any insurer if 95 percent or
				more of its equity securities are owned or controlled by a parent or an
				affiliated insurer and the remaining securities are held of record by less than
				five hundred persons. A domestic stock insurer which files with the Securities
				and Exchange Commission forms of proxies, consents and authorizations complying
				with the requirements of the Securities Exchange Act of 1934, as amended, and
				the applicable regulations promulgated thereunder, shall be exempt from the
				provisions of this regulation with respect to any class of securities subject
				to SEC jurisdiction.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:1525 and
				  22:1533.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 71 - Regulation 24-Proxies, Consents and Authorizations of Domestic Stock Insurers › Section XIII-7103 - Proxies, Consents and Authorizations

Current through Register Vol. 50, No. 6, June 20, 2024
A. No domestic stock insurer, or any
				director, officer or employee of such insurer subject to §7101, or any other
				person, shall solicit, or permit the use of his name to solicit, by mail or
				otherwise, any proxy, consent or authorization in respect of any class of
				equity security of such insurer held of record by one hundred or more persons
				in contravention of this regulation and
				§7123 and 7125, Schedules A and
B.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:1525 and
				  22:1533.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 71 - Regulation 24-Proxies, Consents and Authorizations of Domestic Stock Insurers › Section XIII-7105 - Disclosure of Equivalent Information

Current through Register Vol. 50, No. 6, June 20, 2024
A. Unless proxies, consents or authorizations
				in respect of any class of equity security of a domestic insurer subject to
				§7101 hereof are solicited by or on
				behalf of the management of such insurer from the holders of record of such
				security in accordance with this regulation and the Schedules hereunder prior
				to any annual or other meeting of such security holders, such insurer shall, in
				accordance with this regulation and such further regulations as the
				commissioner may adopt, file with the commissioner and transmit to all security
				holders of record information substantially equivalent to the information which
				would be required to be transmitted if a solicitation were made. Such insurer
				shall transmit a written information statement containing the information
				specified in §7109. D to every security holder who is entitled to vote in
				regard to any matter to be acted upon at the meeting and from whom a proxy is
				not solicited on behalf of the management of the insurer; provided, that in the
				case of a class of securities in unregistered or bearer form such statement
				need be transmitted only to those security holders whose names and addresses
				are known to the insurer.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:1525 and
				  22:1533.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 71 - Regulation 24-Proxies, Consents and Authorizations of Domestic Stock Insurers › Section XIII-7107 - Definitions

Current through Register Vol. 50, No. 6, June 20, 2024
A. The definitions
				and instructions set out in Schedule SIS, as promulgated by the National
				Association of Insurance Commissioners, shall be applicable for purposes of
				this regulation.
Solicit
and
Solicitation
-
				  for purposes of this regulation shall include:
a. any request for a proxy, whether or not accompanied by or
				  included in a form of proxy; or
b. any request to execute or not to execute, or to revote, a
				  proxy;
c. the furnishing of a proxy or other communication to
				  security holders under circumstances reasonably calculated to result in the
				  procurement, withholding or revocation of a proxy.
Solicit
and
Solicitation
-
				  shall not include:
a. any solicitation by a person in respect of equity security
				  of which he is the beneficial owner;
b. action by a broker or other person in respect to equity
				  security carried in his name or in the name of his nominee in forwarding to the
				  beneficial owner of such equity security soliciting material received from the
				  company, or impartially instructing such beneficial owner to forward a proxy to
				  the person, if any, to whom the beneficial owner desires to give a proxy, or
				  impartially requesting instructions from the beneficial owner with respect to
				  the authority to be conferred by the proxy and stating that a proxy will be
				  given if the instructions are received by a certain date;
c. the furnishing of a form of proxy to a security holder
				  upon the unsolicited request of such security holder, or the performance by any
				  person of ministerial acts on behalf of a person soliciting a
				  proxy.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:1525 and
				  22:1533.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 71 - Regulation 24-Proxies, Consents and Authorizations of Domestic Stock Insurers › Section XIII-7109 - Information to Be Furnished to Security Holders

Current through Register Vol. 50, No. 6, June 20, 2024
A. No solicitation subject to this regulation
				shall be made unless each person solicited is concurrently furnished or has
				previously been furnished with a written proxy statement containing the
				information specified in §7123
B.
				If the solicitation is made on behalf of the management of the insurer and
				relates to in annual meeting of security holders at which directors are to be
				elected, each proxy statement furnished pursuant to §7109. A shall be
				accompanied or preceded by an annual report (in preliminary or final form) to
				such security holders containing such financial statements for the last fiscal
				year as are referred to in Schedule SIS under the heading "Financial Reporting
				to Security Holders". Subject to the foregoing requirements with respect to
				financial statements, the annual report to security holders may be in any form
				deemed suitable by the management.
C. Two copies of each report sent to the
				security holders pursuant to
				§7109 shall be mailed to the
				commissioner not later than the date on which such report is first sent or
				given to security holders or the date on which preliminary copies of
				solicitation material are filed with the commissioner pursuant to §7113 A,
				whichever date is later.
D. If no
				solicitation is being made by management of the insurer with respect to any
				annual or other meeting, such insurer shall mail to every security holder of
				record at least twenty days prior to the meeting date, an information statement
				as required by §7109 C, containing the information called for by §7123, other
				than §7123 A, C, and D, which would be applicable to any matter to be acted
				upon at the meeting if proxies were to be solicited in connection with the
				meeting. If such information statement relates to an annual meeting at which
				directors are to be elected, it shall be accompanied by an annual report to
				such security holders in the form provided in §7109. B
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:1525 and
				  22:1533.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 71 - Regulation 24-Proxies, Consents and Authorizations of Domestic Stock Insurers › Section XIII-7111 - Requirements as to Proxy

Current through Register Vol. 50, No. 6, June 20, 2024
A. The
				form of proxy shall:
1. indicate in bold-face
				type whether or not the proxy is solicited on behalf of the
				management;
2. provide a
				specifically designated blank space for dating the proxy; and
3. identify clearly and impartially each
				matter or group of related matters intended to be acted upon, whether proposed
				by the management, or security holders. No reference need be made to proposals
				as to which discretionary authority is conferred pursuant to §7111.
				C
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 71 - Regulation 24-Proxies, Consents and Authorizations of Domestic Stock Insurers › Section XIII-7113 - Material Required to be Filed

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Two preliminary copies of the information statement or the proxy statement and
				form of proxy and any other soliciting material to be furnished to security
				holders concurrently therewith shall be filed with the commissioner at least 10
				days prior to the date definitive copies of such material are first sent or
				given to security holders, or such shorter period prior to that date as the
				commissioner may authorize upon a showing of good cause therefor.
B. Two preliminary copies of any additional
				soliciting material relating to the same meeting or subject matter to be
				furnished to security holders subsequent to the proxy statements shall be filed
				with the commissioner at least two days (exclusive of Saturdays, Sundays or
				holidays) prior to the date copies of this material are first sent or given to
				security holders or a shorter period prior to such date as the commissioner may
				authorize upon a showing of good cause therefor.
C. Two definitive copies of the information
				statement or the proxy statement, form of proxy and all other soliciting
				material, in the form in which this material is furnished to security holders,
				shall be filed with, or mailed for filing to, the commissioner not later than
				the date such material is first sent or given to the security holder.
D. Where any information statement or proxy
				statement, form of proxy or other material filed pursuant to these rules is
				amended or revised, two of the copies shall be marked to clearly show such
				changes.
E. Copies of replies to
				inquiries from security holders requesting further information and copies of
				communications which do no more than request that forms of proxy theretofore
				solicited be signed and returned need not be filed pursuant to §7113
F. Notwithstanding the provisions
				of §7113. A and B and of §7121 E, copies of soliciting material in the form of
				speeches, press releases and radio or television scripts may, but need not, be
				filed with the commissioner prior to use or publication. Definitive copies,
				however, shall be filed with or mailed for filing to the commissioner as
				required by §7113. C not later than the date such material is used or
				published. The provisions of §7113. A and B and §7121. E shall apply, however,
				to any reprints or reproductions of all or any part of such material.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:1525 and
				  22:1533.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 71 - Regulation 24-Proxies, Consents and Authorizations of Domestic Stock Insurers › Section XIII-7115 - Proposals of Stockholders

Current through Register Vol. 50, No. 6, June 20, 2024
(This Section would provide a procedure for presentation of
				  security holder proposals where the insurance supervisory official deems the
				  state's corporate or other laws do not provide satisfactory methods for such
				  presentation. It was agreed that a decision on its inclusion in the regulations
				  be postponed until this June, 1965 meeting and that, in the meantime, the
				  subject be given further study.)
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:1525 and
				  22:1533.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 71 - Regulation 24-Proxies, Consents and Authorizations of Domestic Stock Insurers › Section XIII-7117 - False or Misleading Statements

Current through Register Vol. 50, No. 6, June 20, 2024
A. No proxy statement, form of proxy, notice
				of meeting, information statement, or other communication, written or oral,
				subject to this regulation, shall contain any statement which at the time and
				in the light of the circumstances under which it is made, is false or
				misleading with respect to any material fact, or which omits to state any
				material fact necessary in order to make the statements therein not false or
				misleading or necessary to correct any statement in any earlier communication
				with respect to the same meeting or subject matter which has become false or
				misleading.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:1525 and
				  22:1533.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 71 - Regulation 24-Proxies, Consents and Authorizations of Domestic Stock Insurers › Section XIII-7119 - Prohibition of Certain Solicitations

Current through Register Vol. 50, No. 6, June 20, 2024
A. No person making a solicitation which is
				subject to this regulation shall solicit any undated or postdated proxy or any
				proxy which provides that it shall be deemed to be dated as of any date
				subsequent to the date on which it is signed by the security holder.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:1525 and
				  22:1533.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 71 - Regulation 24-Proxies, Consents and Authorizations of Domestic Stock Insurers › Section XIII-7121 - Special Provisions Applicable to Election Contest

Current through Register Vol. 50, No. 6, June 20, 2024
A. Applicability. This Section shall apply to
				any solicitation subject to this regulation by any person or group for the
				purpose of opposing a solicitation subject to this regulation by any other
				person or group with respect to the election or removal of directors at any
				annual or special meeting of security holders.
B. Participant or Participant in a
				Solicitation
1. For purposes of this Section
				the terms
participant
and
participant in a
				solicitation
include:
a. the
				insurer;
b. any director of the
				insurer, and any nominee for whose election as a director proxies are
				solicited;
c. any other person,
				acting alone or with one or more other persons, committees or groups, in
				organizing, directing or financing the solicitation.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 71 - Regulation 24-Proxies, Consents and Authorizations of Domestic Stock Insurers › Section XIII-7123 - Schedule A-Information Required in Proxy Statement

Current through Register Vol. 50, No. 6, June 20, 2024
A. Revocability of Proxy
1. State whether or not the person giving the
				proxy has the power to revoke it. If the right of revocation before the proxy
				is exercised is limited or is subject to compliance with any formal procedure,
				briefly describe such limitation or procedure.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 71 - Regulation 24-Proxies, Consents and Authorizations of Domestic Stock Insurers › Section XIII-7125 - Schedule B-Information to Be Included in Statements Filed by or on Behalf of a Participant (other than the insurer) in a Proxy Solicitation in an Election Contest

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Insurer. State the name and address of the insurer.
B. Identity and Background
1. State the following:
a. your name and business address;
b. your present principal occupation or
				employment and the name, principal business and address of any corporation or
				other organization in which such employment is carried on.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 73 - Regulation 25-Sale of Stock to Public; Stock Options › Section XIII-7301 - Sale of Stock; Stock Options

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				No new old line legal reserve life insurance company will be registered to sell
				stock to the public unless at least $1,000,000 is sold.
B. No new industrial life insurance company
				will be registered to sell stock to the public unless at least $300,000 is
				sold.
C. At least 100 percent of
				the proceeds of the sale of stock must be placed in escrow until either of the
				above amounts has been sold or until the expiration of one year from the date
				of original registration.
D. No
				company will be registered with a par value of less than $1 per
				share.
E. Stock options must comply
				with "Restricted Stock Options" under the
Internal Revenue
				Code
, and such options can not exceed 10 percent of the total
				outstanding shares after the sale to the public.
F. All officers, directors, incorporators or
				promoters of insurance companies must pay at least 85 percent of the public
				offering price into the company. No stock may be subscribed for at par by such
				individuals and then a public offering made at a price considerably in excess
				of par.
G. No stock of an insurance
				company, whether original or secondary, can be sold to pay off a personal loan
				of the holder thereof.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  22:2.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 75 - Regulation 27-Insider Trading of Equity Securities of a Domestic Stock Insurance Company › Subchapter A - General Application › Section XIII-7503 - Transactions Exempted from the Operation of Section 1526 of the Act

Current through Register Vol. 50, No. 6, June 20, 2024
A. Any acquisition
				  or disposition of any equity security by a director or officer of an insurer
				  within six months prior to the date on which the Act shall first become
				  applicable with respect to the equity securities of such insurer shall not be
				  subject to the operation of Section 1526 of the Act.
AUTHORITY NOTE:
					 Promulgated in accordance with
					 R.S.
					 22:2.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 75 - Regulation 27-Insider Trading of Equity Securities of a Domestic Stock Insurance Company › Subchapter B - Regulations under Section 1525 of the Act › Section XIII-7509 - Filing of Statements

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				  Initial statements of beneficial ownership of equity securities required by
				  Section 1525 of the Act shall be filed on Form A, §7561 Statements of changes
				  in such beneficial ownership required by Section 1525 shall be filed on Form B,
				  §7563 All such statements shall be prepared and filed in accordance with the
				  requirements of the applicable form.
AUTHORITY NOTE:
					 Promulgated in accordance with
					 R.S.
					 22:2.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 75 - Regulation 27-Insider Trading of Equity Securities of a Domestic Stock Insurance Company › Subchapter B - Regulations under Section 1525 of the Act › Section XIII-7511 - Ownership of More than 10 Percent of an Equity Security

Current through Register Vol. 50, No. 6, June 20, 2024
A. In determining, for the purpose of Section
				  1525 of the Act whether a person is the beneficial owner, directly or
				  indirectly, of more than 10 percent of any class of any equity security, such
				  class shall be deemed to consist of the total amount of such class outstanding,
				  exclusive of any securities of such class held by or for the account of the
				  insurer or a subsidiary of the insurer; except that for the purpose of
				  determining percentage ownership of voting trust certificates or certificates
				  of deposit for equity securities, the class of voting trust certificates or
				  certificates of deposit shall be deemed to consist of the amount of voting
				  trust certificates or certificates of deposit issuable with respect to the
				  total amount of outstanding equity securities of the class which may be
				  deposited under the voting trust agreement or deposit agreement in question,
				  whether or not all of such outstanding securities have been so deposited. For
				  the purpose of
				  §7511 a person acting in good faith may
				  rely on the information contained in the latest Convention Form Statement filed
				  with the commissioner with respect to the amount of securities of a class
				  outstanding or in the case of voting trust certificates or certificates of
				  deposit the amount thereof issuable.
AUTHORITY NOTE:
					 Promulgated in accordance with
					 R.S.
					 22:2.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 75 - Regulation 27-Insider Trading of Equity Securities of a Domestic Stock Insurance Company › Subchapter B - Regulations under Section 1525 of the Act › Section XIII-7513 - Disclaimer of Beneficial Ownership

Current through Register Vol. 50, No. 6, June 20, 2024
A. Any person filing a statement may
				  expressly declare therein that the filing of such statement shall not be
				  construed as an admission that such person is, for the purpose of the Act, the
				  beneficial owner of any equity securities covered by the statement.
AUTHORITY NOTE:
					 Promulgated in accordance with
					 R.S.
					 22:2.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 75 - Regulation 27-Insider Trading of Equity Securities of a Domestic Stock Insurance Company › Subchapter B - Regulations under Section 1525 of the Act › Section XIII-7515 - Exemptions from Sections 1525 and 1526 of the Act

Current through Register Vol. 50, No. 6, June 20, 2024
A. During the period of 12 months following
				  their appointment and qualification, securities held by the following persons
				  shall be exempt from Sections 1525 of the Act :
1. executors or administrators of the estate
				  of a decedent;
2. guardians or
				  committees for an incompetent; and
3. receivers, trustees in bankruptcy,
				  assignees for the benefit of creditors, conservators, liquidating agents, and
				  other similar persons duly authorized by law to administer the estate or assets
				  of other persons.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 75 - Regulation 27-Insider Trading of Equity Securities of a Domestic Stock Insurance Company › Subchapter B - Regulations under Section 1525 of the Act › Section XIII-7517 - Exemption from the Act of Securities Purchased or Sold by Odd-Lot Dealers

Current through Register Vol. 50, No. 6, June 20, 2024
A. Securities
				  purchased or sold by an odd-lot dealer:
1. in
				  odd lots so far as reasonably necessary to carry on odd-lot transactions;
				  or
2. in round lots to offset
				  odd-lot transactions previously or simultaneously executed or reasonably
				  anticipated in the usual course of business, shall be exempt from the
				  provisions of the Act with respect to participation by such odd-lot dealer in
				  such transactions.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 75 - Regulation 27-Insider Trading of Equity Securities of a Domestic Stock Insurance Company › Subchapter B - Regulations under Section 1525 of the Act › Section XIII-7519 - Certain Transactions Subject to Section 1525 of the Act

Current through Register Vol. 50, No. 6, June 20, 2024
A. The acquisition
				  or disposition of any transferable option, put, call, spread or straddle shall
				  be deemed such a change in the beneficial ownership of the security to which
				  such privilege relates as to require the filing of a statement reflecting the
				  acquisition or disposition of such privilege. Nothing in §7519, however, shall
				  exempt any person from filing the statements required upon the exercise of such
				  option, put, call, spread or straddle.
AUTHORITY NOTE:
					 Promulgated in accordance with
					 R.S.
					 22:2.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 75 - Regulation 27-Insider Trading of Equity Securities of a Domestic Stock Insurance Company › Subchapter B - Regulations under Section 1525 of the Act › Section XIII-7521 - Ownership of Securities Held in Trust

Current through Register Vol. 50, No. 6, June 20, 2024
A. Beneficial ownership of a security for the
				  purpose of Section 1525 shall include:
1. the
				  ownership of securities as a trustee where either the trustee or members of his
				  immediate family have a vested interest in the income or corpus of the
				  trust;
2. the ownership of a vested
				  beneficial interest in a trust; and
3. the ownership of securities as a settlor
				  of a trust in which the settlor has the power to revoke the trust without
				  obtaining the consent of all the beneficiaries.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 75 - Regulation 27-Insider Trading of Equity Securities of a Domestic Stock Insurance Company › Subchapter B - Regulations under Section 1525 of the Act › Section XIII-7523 - Exemption for Small Transactions

Current through Register Vol. 50, No. 6, June 20, 2024
A. Any acquisition of securities shall be
				  exempt from Section 1525 where:
1. the person
				  effecting the acquisition does not within six months thereafter effect any
				  disposition, otherwise than by way of gift, of securities of the same class;
				  and
2. the person effecting such
				  acquisition does not participate in acquisitions or in dispositions of
				  securities of the same class having a total market value in excess of $3,000
				  for any six months' period during which the acquisition occurs.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 75 - Regulation 27-Insider Trading of Equity Securities of a Domestic Stock Insurance Company › Subchapter B - Regulations under Section 1525 of the Act › Section XIII-7525 - Exemption from Section 1526 of the Act of Transactions which Need Not Be Reported under Section 1525

Current through Register Vol. 50, No. 6, June 20, 2024
A. Any
				  transaction which has been or shall be exempted from the requirements of
				  Section 1525 of the Act shall, insofar as it is otherwise subject to the
				  provisions of Section 1526, be likewise exempted from Section 1526.
AUTHORITY NOTE:
					 Promulgated in accordance with
					 R.S.
					 22:2.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 75 - Regulation 27-Insider Trading of Equity Securities of a Domestic Stock Insurance Company › Subchapter C - Regulations under Section 1526 of the Act › Section XIII-7531 - Exemption from Section 1526 of Certain Transactions Effected in Connection with a Distribution

Current through Register Vol. 50, No. 6, June 20, 2024
A. Any
				  transaction of purchase and sale, or sale and purchase, of a security which is
				  effected in connection with the distribution of a substantial block of
				  securities shall be exempt from the provisions of Section 1526 of the Act, to
				  the extent specified in
				  §7531 as not comprehended within the
				  purpose of said Section of the Act, upon the following conditions:
1. the person effecting the transaction is
				  engaged in the business of distributing securities and is participating in good
				  faith, in the ordinary course of such business, in the distribution of such
				  block of securities;
2. the
				  security involved in the transaction is:
a. a
				  part of such block of securities and is acquired by the person effecting the
				  transaction, with a view to the distribution thereof, from the insurer or other
				  person on whose behalf such securities are being distributed or from a person
				  who is participating in good faith in the distribution of such block of
				  securities; or
b. a security
				  purchased in good faith by or for the account of the person effecting the
				  transaction for the purpose of stabilizing the market price of securities of
				  the class being distributed or to cover an over-allotment or other short
				  position created in connection with such distribution; and
3. other persons not within the purview of
				  Section 1526 of the Act are participating in the distribution of such block of
				  securities on terms at least as favorable as those on which such person is
				  participating and to an extent at least equal to the aggregate participation of
				  all persons exempted from the provisions of Section 1526 of the Act by §7531 However, the performance of the functions of manager of a distributing group
				  and the receipt of a bona fide payment for performing such functions shall not
				  preclude an exemption which would otherwise be available under §7531
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 75 - Regulation 27-Insider Trading of Equity Securities of a Domestic Stock Insurance Company › Subchapter C - Regulations under Section 1526 of the Act › Section XIII-7533 - Exemption from Section 1526 of Acquisitions of Shares of Stock and Stock Options under Certain Stock Bonus, Stock Option or Similar Plans

Current through Register Vol. 50, No. 6, June 20, 2024
A. Any acquisition
				  of shares of stock (other than stock acquired upon the exercise of an option,
				  warrant or right) pursuant to a stock bonus, profit sharing, retirement,
				  incentive, thrift, savings or similar plan, or any acquisition of a qualified
				  or a restricted stock option pursuant to a qualified or a restricted stock
				  option plan, or a stock option pursuant to an employee stock purchase plan, by
				  a director or officer of an insurer issuing such stock or stock option shall be
				  exempt from the operations of Section 1526 of the
Act
if the
				  plan meets the following conditions.
1. The
				  plan has been approved, directly or indirectly:
a. by the affirmative votes of the holders of
				  a majority of the securities of such insurer present, or represented, and
				  entitled to vote at a meeting duly held in accordance with the applicable laws
				  of the state of Louisiana; or
b. by
				  the written consent of the holders of a majority of the securities of such
				  insurer entitled to vote; provided, however, that if such vote or written
				  consent was not solicited substantially in accordance with the proxy rules and
				  regulations prescribed by the Commissioner of Insurance in effect at the time
				  of such vote or written consent, the insurer shall furnish, in writing, to the
				  holders of record of the securities entitled to vote for the plan substantially
				  the same information concerning the plan which would be required by any such
				  rules and regulations so prescribed and in effect at the time such information
				  is furnished, if proxies to be voted with respect to the approval or
				  disapproval of the plan were then being solicited, on or prior to the date of
				  the first annual meeting of security holders held subsequent to the later of:
i. the date the Act first applies to such
				  insurer; or
ii. the acquisition of
				  an equity security for which exemption is claimed. Such written information may
				  be furnished by mail to the last known address of the security holders of
				  record within 30 days prior to the date of mailing. Four copies of such written
				  information shall be filed with, or mailed for filing to the commissioner not
				  later than the date on which it is first sent or given to security holders of
				  the insurer. For the purposes of this Paragraph, the term
insurer
includes a predecessor corporation if the plan or
				  obligations to participate thereunder were assumed by the insurer in connection
				  with the succession.
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 75 - Regulation 27-Insider Trading of Equity Securities of a Domestic Stock Insurance Company › Subchapter C - Regulations under Section 1526 of the Act › Section XIII-7535 - Exemption from Section 1526 of Certain Transactions in which Securities Are Received by Redeeming other Securities

Current through Register Vol. 50, No. 6, June 20, 2024
A. Any acquisition of an equity security
				  (other than a convertible security or right to purchase a security) by a
				  director or officer of the insurer issuing such security shall be exempt from
				  the operation of Section 2 of the Act upon condition that:
1. the equity security is acquired by way of
				  redemption of another security of an insurer substantially all of whose assets
				  other than cash (or government bonds) consist of securities of the insurer
				  issuing the equity security so acquired, and which:
a. represented substantially and in practical
				  effect a stated or readily ascertainable amount of such equity
				  security;
b. had a value which was
				  substantially determined by the value of such equity security; and
c. conferred upon the holder the right to
				  receive such equity security without the payment of any consideration other
				  than the security redeemed;
Louisiana Administrative Code › Title 37 - INSURANCE › Part XIII - Regulations › Chapter 75 - Regulation 27-Insider Trading of Equity Securities of a Domestic Stock Insurance Company › Subchapter C - Regulations under Section 1526 of the Act › Section XIII-7537 - Exemption of Long-Term Profits Incident to Sales within Six Months of the Exercise of an Option

Current through Register Vol. 50, No. 6, June 20, 2024
A. To the
				  extent specified in §7537 B, the commissioner hereby exempts as not
				  comprehended within the purposes of Section 1526 of the Act any transaction or
				  transactions involving the purchase and sale, or sale and purchase, of any
				  equity security where such purchase is pursuant to the exercise of an option or
				  similar right either:
1. acquired more than
				  six months before its exercise; or
2. acquired pursuant to the terms of an
				  employment contract entered into more than six months before its
				  exercise.