ENROLLED
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ACT No. 80
Regular Session, 2014
HOUSE BILL NO. 647
BY REPRESENTATIVE HUNTER
AN ACT1
To amend and reenact R.S. 22:369(A)(introductory paragraph) and to enact R.S. 22:362(C),2
369(A)(5), and 369.1, relative to vehicle mechanical breakdown insurers; to permit3
the commissioner of insurance to levy a fine; to provide that mechanical breakdown4
insurers shall notify the commissioner of insurance within sixty days of any material5
change in its ownership, control, or other circumstance affecting its qualifications for6
a license; to provide that the commissioner may levy a fine, suspend, or revoke a7
license for failing to comply with the law or a lawful order of the commissioner; to8
provide for reinstatement of license for failure to pay the annual license renewal fee;9
to provide for reinstatement of license for failure to file the annual audited financial10
statement; and to provide for related matters.11
Be it enacted by the Legislature of Louisiana:12
Section 1. R.S. 22:369(A)(introductory paragraph) is hereby amended and reenacted13
and R.S. 22:362(C), 369(A)(5), and 369.1 are hereby enacted to read as follows: 14
§362. License required of vehicle mechanical breakdown insurer15
* * *16
C. Every licensee shall notify the commissioner within sixty days of any17
material change in its ownership, control, or other fact or circumstance affecting its18
qualification for a license in this state. Material changes shall include but are not19
limited to the following:20
(1) Changes in officers or directors.21
(2) Changes in ownership.22
(3) Change in articles of incorporation.23
(4) A merger.24 ENROLLEDHB NO. 647
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are additions.
(5) An addition or change of a trade name or "d/b/a".1
(6) Cessation of business in Louisiana.2
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§369. Revocation or suspension of license4
A. In accordance and compliance with R.S. 49:961, the commissioner may5
levy a fine not to exceed one thousand dollars per violation or revoke or suspend any6
license required by this Subpart should he find any of the following:7
* * *8
(5) If the insurer fails to comply with any provision of this Subpart or a9
lawful order of the commissioner.10
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§369.1. Reinstatement of license12
A. A vehicle mechanical breakdown insurer whose license has been13
suspended for failure to pay the annual renewal fee required by R.S. 22:362 shall14
have his license reinstated if the annual renewal fee is paid within ninety days of the15
date of suspension, provided all other requirements of this Subpart have been met.16
B. A vehicle mechanical breakdown insurer whose license has been17
suspended for failure to file the annual audited financial statement required by R.S.18
22:366 shall have his license reinstated if the annual audited financial statement is19
filed within ninety days of the deadline for filing provided in R.S. 22:366.20
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: