ENROLLED
2016 Regular Session
HOUSE BILL NO. 520
BY REPRESENTATIVE CHAD BROWN
1 AN ACT
2 To amend and reenact R.S. 22:332(A)(13), relative to the deposits made by foreign insurers
3 applying for admission in this state; and to provide for related matters.
4 Be it enacted by the Legislature of Louisiana:
5 Section 1. R.S. 22:332(A)(13) is hereby amended and reenacted to read as follows:
6 ยง332. Application for certificate of authority
7 A. A foreign or alien insurer in order to procure a certificate of authority to
8 transact business in this state shall prepare and deliver to the commissioner of
9 insurance:
10 * * *
11 (13) A certificate from the proper official of the domiciliary state of the
12 company applying for admission to the state of Louisiana showing that a deposit has
13 been made in the domiciliary state of the foreign insurer in an amount of not less
14 than one hundred thousand dollars, as evidenced by a safekeeping or trust receipt,
15 for the benefit and protection of and as security for all policyholders and creditors
16 of the insurer making such deposit. in compliance with the laws of that state.
17 Section 2. This Act shall become effective upon signature by the governor or, if not
18 signed by the governor, upon expiration of the time for bills to become law without signature
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HB NO. 520 ENROLLED
1 by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
2 vetoed by the governor and subsequently approved by the legislature, this Act shall become
3 effective on the day following such approval.
SPEAKER OF THE HOUSE OF REPRESENTATIVES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
Page 2 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.