RS 22:528

170 words·~1 min read·/la/title-22/22-541

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RS 22:528

§528. Title insurer; restrictions

A title insurer shall not:

(1)Appoint any director, officer, controlling shareholder, or employee of a title insurance producer to serve on the title insurer's board of directors if the title insurance producer wrote one percent or more of the direct premiums of the title insurer written during the previous calendar year as shown on the title insurer's most recent annual statement on file with the department. This Paragraph shall not apply to relationships governed by R.S. 22:691.1 et seq.

(2)Jointly employ an individual who is employed with the title insurance producer unless the title insurer and the title insurance producer are affiliated or otherwise under common control as defined by R.S. 22:691.2.

(3)Engage in the practice of law as defined by R.S. 37:212.

Acts 1999, No. 192, §1, eff. June 9, 1999; Redesignated from R.S. 22:2092.9.2 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 503, §1; Acts 2016, No. 6, §1; Acts 2022, No. 161, §1.