ENROLLED
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ACT No. 80
Regular Session, 2013
HOUSE BILL NO. 216
BY REPRESENTATIVE SHADOIN
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
AN ACT1
To amend and reenact R.S. 40:1299.44(A)(1)(b) and 1299.46(H) and to enact R.S.2
40:1299.44(A)(1)(f), relative to the Patient's Compensation Fund Oversight Board;3
to provide for the authority of the Patient's Compensation Fund Board to invest4
private monies and segregated funds in certain circumstances; to provide for the5
balance of the fund upon dissolution of the Patient's Compensation Fund; to provide6
for retroactive effect; and to provide for related matters.7
Be it enacted by the Legislature of Louisiana:8
Section 1. R.S. 40:1299.44(A)(1)(b) and 1299.46(H) are hereby amended and9
reenacted to read as follows: 10
§1299.44. Patient's Compensation Fund11
A.(1)12
* * *13
(b) The Patient's Compensation Fund Oversight Board may invest, in14
accordance with R.S. 40:1299.44.1, any portion of the private monies comprising the15
corpus of the fund, as determined by the board, which are not required for the16
payment of one and one-half times the current fiscal year of budgeted expenditures.17
while maintaining its ability to timely pay claims, future medical care and related18
benefits, and other current expenses under this Part. The board may enter into a19
cooperative endeavor agreement whereby the state treasurer may be authorized to20 ENROLLEDHB NO. 216
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invest, in accordance with R.S. 40:1299.44.1, a portion of the private monies1
comprising the corpus of the fund, as determined by the board.2
* * *3
§1299.46. Risk management; authority4
* * *5
H. The surplus of premiums over losses and expenses received by the6
authority shall be placed in a segregated fund and shall be invested and reinvested7
by the risk manager with the concurrence of the board in accordance with the8
insurance code of the state of Louisiana Insurance Code and investment income9
generated shall remain in the fund. These funds shall not be considered public or10
state funds. 11
* * *12
Section 2. R.S. 40:1299.44(A)(1)(f) is hereby enacted to read as follows:13
§1299.44. Patient's Compensation Fund14
A.(1)15
* * *16
(f) Notwithstanding any provision of law to the contrary, in the event the17
fund is dissolved or liquidated, any remaining balance after all amounts due under18
this Part to medical malpractice claimants, including future medical care and related19
benefits as provided in R.S. 40:1299.43, and all amounts due any other person for20
administrative or operating expenses have been paid from the fund, shall be paid21
over to the state general fund by the board or then administrator of the fund for22
deposit in the state treasury.23
* * *24 ENROLLEDHB NO. 216
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Section 3. The provisions of Section 2 of this Act shall be given retroactive1
application.2
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: