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 612 Reengrossed 2016 Regular Session Talbot
Abstract: Allows vehicle mechanical breakdown insurers to file audited consolidated financial
statements with the consolidating schedule with the commissioner.
Present law requires that every vehicle mechanical breakdown insurer annually file an audited
financial statement with the commissioner.
Proposed law retains present law, but allows a vehicle mechanical breakdown insurer to file an
audited consolidated financial statement with the consolidating schedule, or other audited statement
deemed acceptable by the commissioner, in lieu of the audited financial statement.
Proposed law provides that those submitted statements are subject to be audited.
(Amends R.S. 22:366)
Summary of Amendments Adopted by House
The Committee Amendments Proposed by House Committee on Insurance to the original bill:
1. Restore language in present law that require the audited statements submitted to the
commissioner of insurance by vehicle mechanical breakdown insurers are financial
statements.