ENROLLED
ACT No. 154
2017 Regular Session
HOUSE BILL NO. 503
BY REPRESENTATIVE THIBAUT
1 AN ACT
2 To amend and reenact R.S. 22:821(B)(3) and 1546(B)(1)(a), relative to licensing of
3 insurance producers; to provide for licensing fees paid by insurance producers; to
4 provide for licensing of business entities as insurance producers; to provide for
5 disclosure of persons with ten percent or more controlling interest in a resident
6 business entity; to provide for disclosure upon request of persons with ten percent
7 or more controlling interest in a non-resident business entity; and to provide for
8 related matters.
9 Be it enacted by the Legislature of Louisiana:
10 Section 1. R.S. 22:821(B)(3) and 1546(B)(1)(a) are hereby amended and reenacted
11 to read as follows:
12 §821. Fees
13 * * *
14 B. The following fees and licenses shall be collected in advance by the
15 commissioner of insurance:
16 * * *
17 (3)For producers' licenses:
18 (a)Life, health, and accident producer; variable annuity producer
19 Surplus Lines:
First time applicant...................$75.00 $250.0020
21 Additional or renewal company appointment
(yearly)....................................$20.0022
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HB NO. 503 ENROLLED
1 Producer renewal Renewal fee
(every two years).....................$50.00 $350.002
3 (b)Property and casualty producer All other lines:
First time applicant..........................$75.004
Application to add lines.......................$50.005
6 Additional Initial or renewal company appointment
(yearly)....................................$20.007
Producer renewal fee (every two years)...........$50.008
(i) One line................................$50.009
(ii) Two or more lines........................$55.0010
11 (c)Limited lines producer
First time applicant..........................$75.0012
Each additional line of authority................$35.0013
14 Additional or renewal company appointment
(yearly)....................................$20.0015
Renewal fee (every two years)..................$50.0016
17 (d)Limited lines credit insurance producer
First time applicant..........................$75.0018
19 Additional or renewal company appointment
(yearly)....................................$20.0020
Renewal fee (every two years)..................$50.0021
22 (e)Surplus lines broker
First time applicant.........................$250.0023
Renewal fee (every two years).................$350.0024
25 (f)Fee for failure to file producer license renewal timely
(per license)...................................$50.0026
(g)Fee for duplicate producer license..................$15.0027
28 * * *
29 §1546. Application for license
30 * * *
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HB NO. 503 ENROLLED
1 B.(1)(a) A business entity acting as an insurance producer is required to shall
2 obtain an insurance producer license.
3 (i) Every member, partner, officer, director, and person who controls directly
4 or indirectly ten percent or more of the applicant a resident business entity shall be
5 registered with the Department of Insurance under such business entity's license.
6 (ii) A non-resident business entity shall provide to the commissioner upon
7 request the name of every member, partner, officer, director, and person who
8 controls directly or indirectly ten percent or more of the non-resident business entity.
9 (iii) For purposes of this Section, "control" has the same meaning as
10 provided in R.S. 22:691.2.
11 * * *
12 Section 2. This Act shall become effective on January 1, 2018.
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.