RS 22:550.25
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/la/title-22/22-2096A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
RS 22:550.25
§550.25. Policy forms
A. A captive insurance company shall not issue, deliver, or use a policy form unless it has been filed with and approved by the commissioner.
B. Every such filing shall be made not less than forty-five days in advance for any lines of insurance of any such issuance, delivery, or use. At the expiration of forty-five days, the filed form shall be deemed approved unless prior thereto it has been affirmatively approved or disapproved by order of the commissioner. The commissioner may extend by not more than an additional fifteen days the period within which he may affirmatively approve or disapprove a form by giving notice of the extension before expiration of the initial forty-five-day period.
At the expiration of any extended period, and in the absence of prior affirmative approval or disapproval, a form shall be deemed approved. The commissioner may withdraw approval at any time for cause. Approval of a form by the commissioner constitutes a waiver of any unexpired portion of the initial fifteen-day waiting period.
Acts 2008, No. 403, §1, eff. Jan. 1, 2009; Redesignated by Acts 2009, No. 503, §3; Acts 2025, No. 313, §2.