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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2014 ENROLLED
SENATE BILL NO. 181
BY SENATOR MORRISH
AN ACT1
To amend and reenact R.S. 22:2314(C)(3), relative to the Louisiana Citizens Property2
Insurance Corporation policy take-out program; to provide with respect to ownership3
of a policy by a take-out company; and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 22:2314(C)(3) is hereby amended and reenacted to read as follows:6
ยง2314. Policy take-out program7
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C. Each insurer admitted to write homeowners insurance or insurance9
insuring one- or two-family owner occupied premises for fire and allied lines or10
insurance which covers commercial structures in the state of Louisiana may apply11
to the Louisiana Citizens Property Insurance Corporation to become a take-out12
company. Insurers will be approved to participate in the depopulation of the13
Louisiana Citizens Property Insurance Corporation based on the following criteria:14
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(3) The rates which are charged by the company submitting a take-out plan16
must comply with R.S. 22:2303 in the first year that the company charges premiums17
to the customer. During the second and subsequent third years of coverage, the take-18
out company shall apply to the Department of Insurance for rates which are19 SB NO. 181 ENROLLED
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
actuarially justified, but in no case may the rates be greater than those authorized in1
R.S. 22:2303.2
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PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: