RS 22:167

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RS 22:167

§167. Declaration of organization

The attorney-in-fact of subscribers who desire to form a reciprocal insurer under this Subpart shall sign and acknowledge, before an officer authorized to take acknowledgments, a declaration of organization setting forth:

(1)The name of the reciprocal insurer and the attorney-in-fact.

(2)The location of the insurer's principal office, which shall be the same as that of the attorney-in-fact, and shall be maintained within this state.

(3)The kinds of insurance proposed to be transacted.

(4)The names and addresses of the officers and directors of the attorney-in-fact, if a corporation, or of its members, if a firm.

(5)The minimum and maximum liability of the subscriber for the payment of losses occurring under its policies.

(6)Any other lawful provisions deemed advisable.

Acts 1958, No. 125; Redesignated from R.S. 22:438 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.

NOTE: Former R.S. 22:167 redesignated as R.S. 22:935 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.