2006 Louisiana Laws - RS 22:393 — Life, health and accident insurance on the assessment plan defined
§393. Life, health and accident insurance on the assessment plan defined
A. Any domestic insurer, which issues any certificate, policy or other evidence of interest to, or makes any promise or agreement with its members whereby, upon the decease of a member, any money or other benefit is to be paid or provided by such insurer to the beneficiary designated by him, which money or other benefit is derived from voluntary donations or from admission fees, dues or assessments, or any of them, collected or to be collected from the members thereof, or members of a class therein or accumulation thereof, and wherein the money or other benefit so realized is applied to or accumulated for the uses and purposes herein specified of such insurer, and to the expenses of management and the prosecution of its business, shall be deemed to be engaged in the business of life insurance upon the co-operative or assessment plan, whether or not its certificates or policies, etc., are issued to persons engaged in a particular trade or occupation, and shall be subject to the provisions of this Part.
B. Any insurer which issues any certificate, policy or other evidence of interest to, or makes any promise or agreement with its members whereby, upon the sickness or other physical disability of a member, any money or other benefit is to be paid or provided by such insurer to such member or beneficiary designated by him, which money or other benefit is derived from voluntary donations or from admission fees, dues or assessments, or any of them, collected or to be collected from the members thereof, or members of a class therein, and wherein the money or other benefit is applied to or accumulated for the uses and purposes herein specified of such insurer, and to the expenses of management and the prosecution of its business, shall be deemed to be engaged in the business of health and accident insurance upon the co-operative or assessment plan, whether or not its certificates or policies, etc., are issued to persons engaged in a particular trade or occupation, and shall be subject to the provisions of this Part.
Acts 1958, No. 125.
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