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Louisiana Revised Statutes Tit. 22, § 550.16. Investments; loan to parent or affiliated company in certain circumstances

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

A. Except as otherwise provided in this Section, an association captive insurance company shall comply with the requirements relating to domestic insurer investments as set forth in Subpart B-1 of Part III of this Chapter, R.S. 22:601.1 et seq.

B. A pure captive insurance company is not subject to any restrictions on allowable investments, except that the commissioner may prohibit or limit any investment that threatens the solvency or liquidity of the pure captive insurance company.

C. A pure captive insurance company may make a loan to its parent or affiliated company if the loan meets each of the following requirements:

(1) The loan is first approved in writing by the commissioner.

(2) The loan is evidenced by a note that is in a form approved by the commissioner.

(3) The loan does not include any money that has been set aside as capital or surplus as required by R.S. 22:550.10.

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Cite this article: FindLaw.com - Louisiana Revised Statutes Tit. 22, § 550.16. Investments; loan to parent or affiliated company in certain circumstances - last updated January 01, 2023 | https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-22-sect-550-16/

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