Louisiana Revised Statutes 22:465 – Insolvency of plan
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Terms Used In Louisiana Revised Statutes 22:465
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
When the commissioner, after examination or review of the audit statement required under La. Rev. Stat. 22:463, finds that a self-insurance plan is nearing an insolvent condition or is insolvent, he may issue such orders as he deems necessary to rehabilitate the plan, or he may petition a court of competent jurisdiction for an injunction and rehabilitation as provided for in La. Rev. Stat. 22:73 and 96, Subpart H of Part III of this Chapter, La. Rev. Stat. 22:731 et seq., and Chapter 9 of this Title, La. Rev. Stat. 22:2001 et seq.
Acts 1990, No. 902, §1; Redesignated from La. Rev. Stat. 22:3015 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2009, No. 503, §1.