Louisiana Revised Statutes 12:1853 – A. Two or more churches or nonprofit religious organizations or one or more religious denominations may agree to pool their liabilities for the purposes of providing property coverag
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Louisiana Revised Statutes 12:1853
- Department: means the Department of Insurance. See Louisiana Revised Statutes 12:1854
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Property coverage: means coverage for the damage or loss of a structure or building and may include any or all of the following:
(a) Premises liability coverage. See Louisiana Revised Statutes 12:1854
A. Two or more churches or nonprofit religious organizations or one or more religious denominations may agree to pool their liabilities for the purposes of providing property coverage for their buildings and properties, so long as they have a positive net worth, are financially solvent, and are capable of assuming the obligations set forth in this Chapter.
B. The department shall promulgate necessary rules in accordance with the Administrative Procedure Act to implement and regulate the activities authorized in this Chapter.
Acts 2023, No. 259, §§1, 3A, eff. June 12, 2023.