SLS 17RS-445 ORIGINAL
2017 Regular Session
SENATE BILL NO. 214
BY SENATOR GARY SMITH
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
PROPERTY INSURANCE. Provides relative to the Louisiana Citizens Property Insurance
Corporation Policy Take-Out Program. (8/1/17)
1 AN ACT
2 To amend and reenact R.S. 22:2314(B)(1), relative to the Louisiana Citizens Property
3 Insurance Corporation Policy Take-Out Program; to provide with respect to
4 governing board approval of policy removal to the voluntary market; and to provide
5 for related matters.
6 Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 22:2314(B)(1) is hereby amended and reenacted to read as follows:
8 ยง2314. Policy take-out program
9 * * *
10 B.(1) Not less than once per calendar year, the corporation shall, with the approval
11 of the governing board of the corporation, may offer some or all of its in-force policies
12 for removal to the voluntary market. The corporation shall include offers for depopulation
13 policies with all available geographic and risk characteristics that serve to reduce the
14 exposure of the corporation.
15 * * *
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 214
SLS 17RS-445 ORIGINAL
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Cheryl Cooper.
DIGEST
SB 214 Original 2017 Regular Session Gary Smith
Present law requires Louisiana Citizens Property Insurance Corporation to offer all of its
in-force policies for removal to the voluntary market at least once a year.
Proposed law permits the corporation, with approval of its governing body, to offer some or
all of its in-force policies for removal to the voluntary market at least once a year.
Effective August 1, 2017.
(Amends R.S. 22:2314(B)(1))
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.