HLS 15RS-380 ORIGINAL
2015 Regular Session
HOUSE BILL NO. 673
BY REPRESENTATIVE HUVAL
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
INSURANCE: Provides relative to the licensing of consultants
1 AN ACT
2To amend and renact R.S. 22:1542(3) and (6) and 1543(B), relative to insurance licensure
3 requirements; to provide that consulting services providing insurance advice or
4 recommendations be licensed as producers; and to provide for related matters.
5Be it enacted by the Legislature of Louisiana:
6 Section 1. R.S. 22:1542(3) and (6) and 1543(B) are hereby amended and reenacted
7to read as follows:
8 §1542. Definitions
9 As used in this Subpart, unless the context requires otherwise, the following
10 definitions are applicable:
11 * * *
12 (3) "Commission" shall mean a fee paid to an insurance producer as a
13 percentage of the premium generated by a sold insurance policy, or direct
14 compensation or reward of a producer when the same is calculated as a flat fee,
15 hourly rate, or as a percentage of the premium or on the profit to the principal.
16 * * *
17 (6) "Insurance producer" or "producer" shall mean a person required to be
18 licensed under the laws of this state to sell, solicit, consult, render advice, give
19 recommendations, or negotiate insurance, and includes all persons or business
20 entities otherwise referred to in this Code as "insurance agent" or "agent", or
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 15RS-380 ORIGINAL
HB NO. 673
1 "insurance broker" or "broker", or "insurance solicitor" or "solicitor", or "surplus
2 lines broker".
3 * * *
4 §1543. License required
5 * * *
6 B. No insurance producer shall sell, solicit, consult, render advice, give
7 recommendations, make an application for, procure, negotiate for, or place for
8 others, any policies for any lines of insurance as to which he is not then qualified and
9 duly licensed in this state.
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)]
HB 673 Original 2015 Regular Session Huval
Abstract: Requires certain consulting services to comply with licensing laws.
Present law provides for definitions regarding the regulation of insurance producers.
Proposed law retains present law and additionally provides that any consulting service
providing advice or recommendations regarding insurance products also comply with all
applicable state insurance licensing laws and regulations.
Present law provides that an insurance producer shall not sell, solicit, make an application
for, procure, negotiate for, or place for others, any policy for lines of insurance for which he
is not duly licensed in the state.
Proposed law retains present law and further provides that no producer may consult, render
advice, or give recommendations regarding any policy for lines of insurance for which he
is not duly licensed in the state.
(Amends R.S. 22:1542(3) and (6) and 1543(B))
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.