SLS 14RS-574 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, 2014
SENATE BILL NO. 135
BY SENATOR LONG
PROPERTY INSURANCE. Provides for home service contracts. (8/1/14)
AN ACT1
To amend and reenact R.S. 22:1806.3(A)(3) and to enact R.S. 22:1806.3(A)(4), relative to2
home service contracts; to provide with respect to requirements for doing business;3
to require solvency; and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 22:1806.3(A)(3) is hereby amended and reenacted and R.S.6
22:1806.3(A)(4) is hereby enacted to read as follows:7
ยง1806.3. Requirements for doing business8
A. Home service contracts shall not be issued, sold, or offered for sale in this9
state unless the provider has done each of the following:10
* * *11
(3) Provided a financial statement annually to the commissioner showing12
that the provider is solvent.13
(4) Complied with the provisions of this Part.14
* * *15 SB NO. 135
SLS 14RS-574 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
Long (SB 135)
Present law provides that a home service contract shall not be issued, sold, or offered for sale
unless the provider gives a receipt for or other written evidence of the purchase of a home
service contract and a copy of the home service contract within a reasonable period of time
from date of purchase.
Proposed law retains present law and adds the requirement for an annual financial statement,
submitted to the commissioner, showing the solvency of the provider.
Effective August 1, 2014.
(Amends R.S. 22:1806.3(A)(3); adds R.S. 22:1806.3(A)(4))