2015 Regular Session ENROLLED
SENATE BILL NO. 59
BY SENATOR WARD
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
1 AN ACT
2 To amend and reenact R.S. 22:807, relative to withdrawals of deposits; to provide for the
3 withdrawal of deposits by domestic insurers; and to provide for related matters.
4 Be it enacted by the Legislature of Louisiana:
5 Section 1. R.S. 22:807 is hereby amended and reenacted to read as follows:
6 ยง807. Withdrawals
7 Withdrawal of any bond or deposit required by R.S. 22:801 through 808 may
8 be made only upon approval by the commissioner of insurance and. A withdrawal
9 of a bond or deposit required by R.S. 22:801 or this Section shall be in
10 accordance with the provisions of R.S. 22:341. In the case of a domestic insurer
11 placed in rehabilitation or liquidation by the commissioner,
12 the deposit required by R.S. 22:808 shall be surrendered to the receiver
13 pursuant to an order of the receivership court. Upon release from rehabilitation
14 or liquidation, the insurer shall comply with all applicable provisions of this
15 Part.
16 Section 2. This Act shall become effective upon signature by the governor or, if not
17 signed by the governor, upon expiration of the time for bills to become law without signature
18 by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
19 vetoed by the governor and subsequently approved by the legislature, this Act shall become
20 effective on the day following such approval.
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
ACT No. 35
Page 1 of 1
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.