RS 22:1472 Joint underwriting or joint reinsurance
§1472. Joint underwriting or joint reinsurance
A. Every group, association or other organization of insurers which engages in joint underwriting or joint reinsurance, shall be subject to regulations with respect thereto as herein provided, subject, however, with respect to joint underwriting, to all other provisions of this Subpart, and with respect to joint reinsurance, to R.S. 22:1474, Chapter 8 of this Title, and to the penalties provided for violation of this Subpart.
B. If, after a hearing, the commissioner of insurance finds that any activity or practice of any such group, association, or other organization is unfair or unreasonable or otherwise inconsistent with the provisions of this Subpart, the commissioner shall issue a written order specifying in what respects such activity or practice is unfair or unreasonable or otherwise inconsistent with the provisions of this Subpart, and requiring the discontinuance of such activity or practice.
C. An aggrieved party affected by the commissioner's decision, act, or order may demand a hearing in accordance with Chapter 12 of this Title, R.S. 22:2191 et seq.
Acts 1958, No. 125. Amended by Acts 1960, No. 296, §1; Acts 2003, No. 456, §1; Acts 2007, No. 459, §4, eff. Jan. 1, 2008; Redesignated from R.S. 22:1414 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 317, §1.
NOTE: Former R.S. 22:1472 redesignated as R.S. 22:1289 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
1R.S. 22:1301 et seq.