Louisiana Revised Statutes 22:550.23 – Taxes on premiums and assessments
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Terms Used In Louisiana Revised Statutes 22:550.23
- Captive insurer: means any pure captive insurer or association captive insurer formed or licensed under the provisions of this Subpart. See Louisiana Revised Statutes 22:550.2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
A captive insurer shall be subject to taxation at the same rate and subject to the same interest, fines, and penalties for nonpayment as that applicable to domestic insurers under Chapter 8 of this Title. A captive insurer shall be subject to assessments of the Louisiana Citizens Property Insurance Corporation under Part I of Chapter 15 of this Title.
Acts 2008, No. 403, §1, eff. Jan. 1, 2009; Redesignated by Acts 2009, No. 503, §3.