Louisiana Revised Statutes 22:387 – Reserves
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Terms Used In Louisiana Revised Statutes 22:387
- Commissioner: means the commissioner of insurance of the state of Louisiana. See Louisiana Revised Statutes 22:381
- Property: means all classes of movable or immovable property recognized under the laws of this state. See Louisiana Revised Statutes 22:381
- Residual value: shall mean the value of property at a specific future time, which value is determined by agreement at the time the contract of lease or sale is entered into. See Louisiana Revised Statutes 22:381
Each property residual value insurer shall maintain loss reserves in such amounts as the commissioner deems sufficient.
Added by Acts 1981, No. 472, §1, eff. July 19, 1981; Redesignated from La. Rev. Stat. 22:1906 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.