2006 Louisiana Laws - RS 23:1407.1 — Issuance or renewal of policies not backed by full faith and credit of state; disclosure
§1407.1. Issuance or renewal of policies not backed by full faith and credit of state; disclosure
A. After the full faith and credit of the state is extinguished, the corporation and any person who is an officer, employee, agent, or representative of the corporation, in the solicitation and negotiation of the renewal or issuance of any policy by the corporation, shall disclose that the full faith and credit of the state does not guarantee the legal obligations of the corporation under such policy.
B. Each policy issued or renewed by the corporation after the full faith and credit of the state is extinguished shall contain a statement that the full faith and credit of the state does not guarantee the legal obligations of the corporation under the policy. Any such policy which does not contain such provision shall be void.
Acts 1999, No. 855, §1, eff. Dec. 27, 1999.
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