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 478 Original 2024 Regular Session Glorioso
Abstract: Prohibits lenders from requiring property insurance coverage in excess of replacement
value on improvements of immovable property.
Present law provides that a mortgage lender shall not finance or include insurance premium amounts
in the original principal balance of a residential mortgage loan under certain circumstances.
Proposed law retains present law and adds that a mortgage lender shall not require a borrower to
provide an amount of property hazard insurance that is greater than the replacement or improvement
value of the property that the coverage insures.
(Amends R.S. 6:1096(G)(3)(a))