(a)  This Chapter does not require an insurer to enter into an acknowledgment of the kind described in La. Rev. Stat. 10:9-107.1(a)(2), even if its customer so requests or directs.

(b)  If an insurer acknowledges the creation of a security interest in a life insurance policy issued by it, the insurer does not owe any duty to the secured party unless the insurer otherwise agrees or to the extent law other than this Chapter otherwise provides, and the insurer is not required to confirm the acknowledgment to another person unless requested to do so by its customer.

Acts 2001, No. 128, §1, eff. July 1, 2001.