SLS 17RS-251 ENGROSSED 2017 Regular Session SENATE BILL NO. 44 BY SENATOR JOHN SMITH Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana. INSURANCE POLICIES. Provides relative to the sale of policies issued by the Louisiana Citizens Property Insurance Corporation. (8/1/17) 1 AN ACT 2 To amend and reenact R.S. 22:2313(A), relative to producers' authority to sell insurance 3 policies issued by the Louisiana Citizens Property Insurance Corporation; to provide 4 for reciprocity for producers in other states; and to provide for related matters. 5 Be it enacted by the Legislature of Louisiana: 6 Section 1. R.S. 22:2313(A) is hereby amended and reenacted to read as follows: 7 ยง2313. Producers; authority to bind coverage 8 A.(1) Every producer resident in this state, or a nonresident as provided in 9 Paragraph (2) of this Subsection, and licensed to sell property and casualty 10 insurance may sell insurance policies that are issued by the Louisiana Citizens 11 Property Insurance Corporation through its FAIR and Coastal Plans. 12 (2) A nonresident producer may sell policies issued by Louisiana Citizens 13 Property Insurance Corporation when the state of residence allows Louisiana 14 resident producers to sell policies issued by that state's residual market 15 mechanism. "Residual market mechanism" means a FAIR Plan, wind pool, 16 beach plan, or any other plan or entity that offers coverages similar to those 17 offered through the corporation. 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. 44 SLS 17RS-251 ENGROSSED 1 * * * The original instrument and the following digest, which constitutes no part of the legislative instrument, were prepared by Cheryl Cooper. DIGEST SB 44 Engrossed 2017 Regular Session John Smith Present law provides that a producer resident in this state and licensed to sell property and casualty insurance may sell insurance policies that are issued by the Louisiana Citizens Property Insurance Corporation through its FAIR and Coastal Plans. Proposed law retains present law and allows a nonresident producer to sell policies issued by Louisiana Citizens Property Insurance Corporation when the state of residence allows Louisiana resident producers to sell policies issued by that state's residual market mechanism. Effective August 1, 2017. (Amends R.S. 22:2313(A)) Page 2 of 2 Coding: Words which are struck through are deletions from existing law; words in boldface type and underscored are additions.