HLS 19RS-585 REENGROSSED
2019 Regular Session
HOUSE BILL NO. 271
BY REPRESENTATIVE ANDERS
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
INSURERS/ALIEN: Provides relative to the procedure following the merger or
consolidation of foreign or alien insurers
1 AN ACT
2To amend and reenact R.S. 22:340(A)(introductory paragraph) and (1), relative to the
3 procedure following a merger or consolidation of foreign or alien insurers; to provide
4 for the filing of the agreement and certificate of merger with the commissioner of
5 insurance; to provide for an effective date; and to provide for related matters.
6Be it enacted by the Legislature of Louisiana:
7 Section 1. R.S. 22:340(A)(introductory paragraph) and (1) are hereby amended and
8reenacted to read as follows:
9 ยง340. Procedure following merger or consolidation
10 A. Whenever a foreign or alien insurer authorized to transact business in this
11 state shall be the surviving insurer of a statutory merger permitted by the laws of the
12 state or country under which it is organized, and such the merger is not subject to the
13 provisions of R.S. 22:73 and 96, Subpart H of Part III of this Chapter, R.S. 22:731
14 et seq., and Chapter 9 of this Title, R.S. 22:2001 et seq., it shall forthwith
15 immediately file with the commissioner of insurance:
16 (1) Two copies One copy of the agreement and certificate of merger duly
17 authenticated by the proper official of the state or country under the laws of which
18 such the statutory merger was effected, one of which copies shall be retained by the
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HLS 19RS-585 REENGROSSED
HB NO. 271
1 commissioner of insurance, and one of which certified copies shall be filed with the
2 secretary of state by said commissioner.
3 * * *
4 Section 2. This Act shall become effective on January 1, 2020.
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 271 Reengrossed 2019 Regular Session Anders
Abstract: Reduces the number of copies of the agreement and certificate of merger sent to
the commissioner of insurance following the merger or consolidation of foreign or
alien insurers.
Present law provides that whenever a foreign or alien insurer shall be the surviving insurer
of a statutory merger, it shall file two copies of the agreement and certificate of merger duly
authenticated with the commissioner of insurance who shall file one with the secretary of
state.
Proposed law changes two copies to one copy of the agreement and certificate of merger
duly authenticated to only be retained by the commissioner of insurance.
Effective Jan. 1, 2020.
(Amends R.S. 22:340(A)(intro. para.) and (1))
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.