2006 Louisiana Laws - RS 22:1376 — Purpose
§1376. Purpose
The purpose of this Part is to provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment and to avoid financial loss to claimants or policyholders because of the insolvency of an insurer, to assist in the detection and prevention of insurer insolvencies and to allow the association to provide financial assistance to member insurers under rehabilitation or liquidation, and to provide an association to assess the cost of such operations among insurers.
Added by Acts 1970, No. 81, §1. Acts 1992, No. 517, §1, eff. June 25, 1992.
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