Louisiana Revised Statutes 51:3166 – A. A provider shall not use in its name the words “insurance”, “casualty”, “surety”, “mutual”, or any other words descriptive of the insurance, casualty, or surety business or a name
Terms Used In Louisiana Revised Statutes 51:3166
- 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.
- Provider: means a person who is contractually obligated to provide the services or indemnification under a motor vehicle service contract. See Louisiana Revised Statutes 51:3162
A. A provider shall not use in its name the words “insurance”, “casualty”, “surety”, “mutual”, or any other words descriptive of the insurance, casualty, or surety business or a name deceptively similar to the name or description of any insurance or surety corporation, or to the name of any other provider. The word “guaranty” or similar word may be used by a provider. A provider shall include in its motor vehicle service contracts a statement in substantially the following form: “This agreement is not an insurance contract”.
B. A provider or its representative shall not in its motor vehicle service contracts or literature make, permit, or cause to be made any false or misleading statement, or deliberately omit any material statement that would be considered misleading if omitted.
Acts 2018, No. 592, §2, eff. Feb. 1, 2019.