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are additions.
Regular Session, 2014
HOUSE BILL NO. 879
BY REPRESENTATIVE THIBAUT
INSURANCE: Provides relative to insurance holding companies
AN ACT1
To amend and reenact R.S. 22:691.6(A)(2) and (J)(2) and 691.10(D), and R.S.2
44:4.1(B)(11), relative to insurance holding companies; to provide that annual3
registration statements are due on April 30 for the previous calendar year; to provide4
an exemption from the Public Records Law; and to provide for related matters.5
Be it enacted by the Legislature of Louisiana:6
Section 1. R.S. 22:691.6(A)(2) and (J)(2) and 691.10(D) are hereby amended and7
reenacted to read as follows: 8
§691.6. Registration of insurers9
A. Registration.10
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(2) Any insurer which is subject to registration under this Section shall12
register within fifteen days after it becomes subject to registration, and annually13
thereafter by the first thirtieth of April of each year for the previous calendar year,14
unless the commissioner for good cause shown extends the time for registration, and15
then within the extended time. The commissioner may require any insurer16
authorized to do business in the state which is a member of an insurance holding17
company system, and which is not subject to registration under this Section, to18
furnish a copy of the registration statement, the summary specified in Subsection C19
of this Section, or other information filed by the insurance company with the20
insurance regulatory authority of its domiciliary jurisdiction.21
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J. Exemptions.1
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(2) Unless it appears in the discretion of the commissioner that the condition3
of a small company renders the continuance of its business hazardous to the public4
or its insureds, a small company shall not be required to submit to the department a5
registration statement required by this Section, but shall be considered a registered6
insurer for the purposes of the provisions of Subsection E of this Section, R.S.7
22:704(A), 22:691.7(A) and 705 691.8.8
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§691.10. Confidential treatment10
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D. The sharing of information by the commissioner pursuant to this Act12
Subpart shall not constitute a delegation of regulatory authority or rulemaking, and13
the commissioner is solely responsible for the administration, execution, and14
enforcement of the provisions of this Subpart.15
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Section 2. R.S. 44:4.1(B)(11) is hereby amended to read as follows:17
§4.1. Exceptions18
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B. The legislature further recognizes that there exist exceptions, exemptions,20
and limitations to the laws pertaining to public records throughout the revised21
statutes and codes of this state. Therefore, the following exceptions, exemptions, and22
limitations are hereby continued in effect by incorporation into this Chapter by23
citation:24
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(11) R.S. 22:2, 14, 31(B), 42.1, 88, 244, 263, 461, 550.7, 571, 572, 572.1,26
574, 618, 639, 691.4, 691.5, 691.10, 732, 752, 753, 771, 834, 1008, 1019.2(B)(5)(a),27 HLS 14RS-1378 ENGROSSED
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are additions.
1203, 1460, 1464, 1466, 1546, 1644, 1656, 1723, 1796, 1801,1927, 1929, 1983,1
1984, 2036, 2056, 2085, 2091, 2293, 23032
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DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no
part of the legislative instrument. The keyword, one-liner, abstract, and digest do not
constitute part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and
24:177(E)]
Thibaut HB No. 879
Abstract: Changes the date for filing annual registration statements for insurance holding
companies to April 30 and exempts documents provided to the Dept. of Insurance
in the course of an examination or investigation from the Public Records Law.
Present law requires insurance holding companies to file annual registration statements by
April 1 for the previous calendar year.
Proposed law changes present law by requiring insurance holding companies to file annual
registration statements by April 30 for the previous calendar year.
Present law provides that information shared by the commissioner of insurance pursuant to
present law shall not constitute a delegation of regulatory authority and the commissioner
is responsible for the administration of present law. Proposed law makes technical changes.
Proposed law provides an exemption to the Public Records Law for documents and other
information obtained by or disclosed to the commissioner of insurance in the course of an
examination or investigation.
(Amends R.S. 22:691.6(A)(2) and (J)(2), and 691.10(D), and R.S. 44:4.1(B)(11))
Summary of Amendments Adopted by House
Committee Amendments Proposed by House Committee on Insurance to the original
bill.
1. Deleted provisions relative to enterprise risk filing and the exemption for filing
an annual enterprise risk report.
2. Deleted provisions relative to the confidentiality of documents obtained by the
commissioner of insurance.