Louisiana Revised Statutes 22:1555 – Liability of producers on binder
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Terms Used In Louisiana Revised Statutes 22:1555
- Insurance: shall mean any of the lines of authority as specified in La. See Louisiana Revised Statutes 22:1542
- License: shall mean a document issued by this state's commissioner of insurance authorizing a person to act as an insurance producer for the lines of authority specified in the document. See Louisiana Revised Statutes 22:1542
- producer: shall mean a person required to be licensed under the laws of this state to sell, solicit, or negotiate insurance, and includes all persons or business entities otherwise referred to in this Code as "insurance agent" or "agent" or "insurance broker" or "broker" or "insurance solicitor" or "solicitor" or "surplus lines broker". See Louisiana Revised Statutes 22:1542
The commissioner of insurance may suspend or revoke the license of any producer issuing or purporting to issue any binder on behalf of any insurer for which he is not then authorized to bind.
Acts 1958, No. 125; Redesignated from La. Rev. Stat. 22:632 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2011, No. 94, §1, eff. Jan. 1, 2012.
NOTE: Former La. Rev. Stat. 22:1555 redesignated as La. Rev. Stat. 22:2115 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.