2006 Louisiana Laws - RS 22:1903 — Qualifications
§1903. Qualifications
The commissioner shall not issue a license as a property residual value insurer unless all of the following conditions are met:
(1) If the applicant is a corporation, it shall be a solvent corporation, incorporated under the laws of Louisiana or another state, district, territory, or possession of the United States.
(2) Applicant shall furnish such proof as necessary to the commissioner that the directors and management of the company are competent and trustworthy and are capable of successfully managing its affairs in compliance with law.
(3) Applicant shall make the deposit or file such surety as required by R.S. 22:1904.
(4) Applicant shall be in compliance with and continue to be in compliance with all applicable laws.
Added by Acts 1981, No. 472, §1, eff. July 19, 1981.
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