ENROLLED
ACT No. 13
2017 Regular Session
HOUSE BILL NO. 378
BY REPRESENTATIVE ANDERS
1 AN ACT
2 To amend and reenact R.S. 22:2083(A)(4) and to enact 22:2083(B)(2)(k), relative to the
3 Louisiana Life and Health Insurance Guaranty Association; to exclude a person
4 acquiring rights to receive payments through a "structured settlement factoring
5 transaction" from guaranty fund coverage; and to provide for related matters.
6 Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 22:2083(A)(4) is hereby amended and reenacted and
8 22:2083(B)(2)(k) is hereby enacted to read as follows:
9 ยง2083. Coverages and limitations
10 A. This Part shall provide coverage for the policies and contracts specified
11 in Subsection B of this Section:
12 * * *
13 (4) This Part shall not provide coverage to:
14 (a) a A person who is a payee or beneficiary of a contract owner resident of
15 this state, if the payee or beneficiary is afforded any coverage by the association of
16 another state.
17 (b) A person who acquires rights to receive payments through a "structured
18 settlement factoring transaction" as defined in 26 U.S.C. 5891(c)(3)(A), regardless
19 of when the transaction occurred.
20 * * *
21 B.
22 * * *
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HB NO. 378 ENROLLED
1 (2) This Part shall not provide coverage for:
2 * * *
3 (k) Structured settlement annuity benefits to which a payee or beneficiary
4 has transferred his rights in a "structured settlement factoring transaction" as defined
5 in 26 U.S.C. 5891(c)(3)(A), regardless of when the transaction occurred.
6 * * *
7 Section 2. The provisions of this Act shall be given prospective and retroactive
8 application.
9 Section 3. This Act shall become effective on July 1, 2017.
SPEAKER OF THE HOUSE OF REPRESENTATIVES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.