SLS 12RS-353 ORIGINAL
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2012
SENATE BILL NO. 297
BY SENATOR PETERSON
INSURERS. Sunsets all insurance policy forms every five years. (8/1/12)
AN ACT1
To enact R. S. 22:861(A)(5), relative to the approval of insurance policy forms; to provide2
for the effective period of insurance policy form approval; and to provide for related3
matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 22:861(A)(5) is hereby enacted to read as follows:6
ยง861. Approval of forms7
A.(1) * * *8
(5) The approval of any basic insurance policy form shall be effective for9
a period of five years from the date of approval unless sooner rescinded or later10
extended by the commissioner. The commissioner may provide for the orderly11
review of basic insurance policy forms approved before July 1, 2007; however,12
the current approval of such forms shall be effective until June 30, 2017, absent13
any express recision or extension by the commissioner.14
* * *15 SB NO. 297
SLS 12RS-353 ORIGINAL
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Cheryl Horne.
DIGEST
Present law requires any basic insurance policy form, other than fidelity or surety bond
forms, to be approved by the commissioner of insurance prior to issuance, delivery, or use.
Proposed law retains present law and provides that the approval of any basic insurance
policy form shall be effective for a period of five years from the date of approval unless
sooner rescinded or later extended by the commissioner. Further provides that the
commissioner may provide for the orderly review of the forms approved before July 1, 2007.
Provides, however, that the current approval of such forms shall be effective until June 30,
2017, absent any express recision or extension by the commissioner.
Effective August 1, 2012.
(Adds R.S. 22:861(A)(5))