Skip to main content
Find a Lawyer

Louisiana Revised Statutes Tit. 22, § 1808.11. Disclosure agreement and compensation

Current as of January 01, 2023 | Updated by Findlaw Staff

A. Prior to providing consulting services, a person licensed as a consultant pursuant to this Part shall disclose all of the following in a written contract signed by the party receiving the consulting services:

(1) The services to be provided by the consultant to the insured and prospective insureds.

(2) The beginning and ending date of the agreement.

(3) Any insurance to which the contract for consulting services applies.

(4) The arrangements for compensation of the consultant, whether by a flat rate, hourly rate, or other valuable consideration.

(5) Whether the consultant is dually licensed as an insurance producer.

(6) Whether the consultant has any financial or business interest in or affiliation with any insurance producer, broker, or insurance company involved within the scope of the consulting work.

B. A copy of every consulting contract shall be retained by the consultant for not less than five years after the expiration of the consulting contract.

C. No licensed insurance consultant may receive any fee for consulting services, unless such compensation is based upon a prior written contract as required by this Section.

D. If a licensed insurance consultant has received the compensation outlined in the written consulting contract, it shall be conclusively presumed that the licensee was acting as a consultant with respect to any transactions related to the contract.

E. A consulting contract shall be made available to the Louisiana Department of Insurance within ten days of a written request.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Louisiana Revised Statutes Tit. 22, § 1808.11. Disclosure agreement and compensation - last updated January 01, 2023 | https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-22-sect-1808-11/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard