ENROLLED
ACT No. 15
2021 Regular Session
HOUSE BILL NO. 182
BY REPRESENTATIVE VILLIO
1 AN ACT
2 To amend and reenact R.S. 22:91 and 119, relative to annual meetings of domestic insurance
3 companies; to provide for annual meetings by remote means; to provide for
4 minimum requirements for policyholder voting rights; to provide for reasonable
5 classification of policyholders; to provide for additional votes based on a reasonable
6 classification of policyholders; and to provide for related matters.
7 Be it enacted by the Legislature of Louisiana:
8 Section 1. R.S. 22:91 and 119 are hereby amended and reenacted to read as follows:
9 §91. Stockholders' meetings
10 Domestic stock insurers shall hold at least one stockholders' meeting annually
11 at a time and place, including by remote means, specified in the articles of
12 incorporation or by-laws bylaws of the insurer. Each stockholder shall be entitled
13 to vote each share of stock which he holds in his own name at any and all
14 stockholders' meetings. The right to vote any share of stock may be conferred upon
15 another stockholder by a written proxy. Any proxy may be revoked at any time by
16 the owner of the shares upon written notice to the secretary of the insurer or the
17 presiding officer at any meeting.
18 * * *
19 §119. Policyholders' meetings; voting rights; proxies
20 A. Domestic mutual insurers shall hold at least one policyholders' meeting
21 annually at a time and place, including by remote means, specified in the charter or
22 bylaws of the insurer. Each policyholder shall be entitled to one vote on matters
23 coming before corporate meetings of the policyholders, subject to such reasonable
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions. HB NO. 182 ENROLLED
1 minimum requirements as to duration of his policy and amount of insurance held as
2 may be made in the insurer's charter or by-laws.
3 B. Each policyholder shall be entitled to vote on matters coming before
4 corporate meetings of the policyholders, unless the insurer's charter or bylaws
5 provides that the right of a policyholder to vote is subject to reasonable minimum
6 requirements as to duration of the policy or the insurance held, amount of premiums
7 paid, amount of insurance held, or any combination thereof.
8 C. If a policyholder is entitled to vote on matters coming before corporate
9 meetings of the policyholders pursuant to Subsection B of this Section, the
10 policyholder shall be entitled to one vote, unless the insurer's charter or bylaws
11 provides otherwise, based on a classification of policyholders as to duration of the
12 policy or insurance held, the amount of premiums paid, amount of insurance held,
13 or any combination thereof.
14 D. The right to vote by any policyholder may be conferred upon any other
15 policyholder by a written proxy. Any proxy may be revoked at any time by the
16 policyholder, upon written notice to the secretary of the insurer or the presiding
17 officer at any meeting.
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.