RS 22:753.1

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RS 22:753.1

§753.1. Single-state exemption

A. The commissioner may exempt specific product forms or product lines of a domestic company that is authorized and doing business only in this state from the requirements of R.S. 22:753(C) provided both of the following occur:

(1)The commissioner has issued an exemption in writing to the company and has not subsequently revoked the exemption in writing.

(2)The company computes reserves using assumptions and methods used prior to the operative date of the valuation manual in addition to any requirements established by the commissioner and promulgated by regulation.

B. For any company granted an exemption pursuant to this Section, the provisions of R.S. 22:752 and 753 shall apply with the exception of R.S. 22:753(C). With respect to any company applying this exemption to its reserves, any reference to R.S. 22:753(C) found in R.S. 22:752 or 753 shall not apply.

Acts 2016, No. 316, §1, eff. June 2, 2016.