RS 22:550.18
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/la/title-22/22-2089A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
RS 22:550.18
§550.18. Captive insurance company prohibited from joining or contributing to risk-sharing plan, risk pool, or insurance insolvency guaranty fund
A. A captive insurance company shall not join or contribute financially to any risk-sharing plan, risk pool, or insurance insolvency guaranty fund in this state. A captive insurance company or its insured, its parent or an affiliated company, or any member organization of its association shall not receive any benefit from such a plan, pool, or fund for claims arising out of the operations of the captive insurance company.
B. Any policy issued by an association captive insurance company shall contain in at least fourteen-point boldface capital letters on the front page and the declaration page, the following notice:
"NOTICE
THIS POLICY IS ISSUED BY A CAPTIVE INSURANCE COMPANY. YOUR CAPTIVE INSURANCE COMPANY MAY NOT BE SUBJECT TO ALL OF THE INSURANCE LAWS AND REGULATIONS OF YOUR STATE. STATE INSURANCE INSOLVENCY GUARANTY FUNDS ARE NOT AVAILABLE FOR YOUR CAPTIVE INSURANCE COMPANY."
Acts 2008, No. 403, §1, eff. Jan. 1, 2009; Redesignated by Acts 2009, No. 503, §3; Acts 2025, No. 313, §2.