2006 Louisiana Laws - RS 22:1004.5 — Insurer\'s rehabilitation and liquidation

§1004.5.  Insurer's rehabilitation and liquidation

A mutual insurance holding company established pursuant to R.S. 22:820 is deemed to be an insurer subject to Part XVI of this Chapter and shall automatically be a party to any proceeding under that Part involving an insurance company which, as a result of a reorganization pursuant to R.S. 22:820, is a subsidiary of the mutual insurance holding company or an intermediate holding company.  In any proceeding under Part XVI of this Chapter involving an insurance company reorganized under R.S. 22:820, the assets of the mutual insurance holding company are deemed to be assets of the estate of the reorganized insurance company for purposes of satisfying the claims of the reorganized insurance company's policyholders.  A mutual insurance holding company shall not dissolve or liquidate without the approval of the commissioner or as ordered by the district court pursuant to Part XVI of this Chapter.

Acts 1997, No. 1482, §1.