2011 Louisiana Laws
Revised Statutes
TITLE 22 — Insurance
RS 22:1986 — Authority to employ examiners and other assistants
§1986. Authority to employ examiners and other assistants
A. The commissioner of insurance shall employ such examiners, auditors, accountants, actuaries, attorneys, and clerical or other assistants as are necessary to conduct the examination and to compile and prepare a report thereon, and the compensation for such examination shall be fixed according to the time actually devoted to the work of conducting the examination and compiling the report thereon as now required by law. Such compensation shall always be reasonable and commensurate with the value of the services performed.
B. Personnel conducting an examination for financial condition shall be compensated for each day worked at rates no less than the rates provided in the procedural manual of the National Association of Insurance Commissioners or the rates applicable to such personnel under the state civil service pay schedule, whichever is greater. The chief examiner shall be compensated on the basis of one hundred fifteen percent of the insurance examiner in-charge CFE. The assistant chief examiner shall be compensated on the basis of one hundred ten percent of the insurance examiner in-charge CFE.
C. Upon completion of the examination of any insurer or at stated periods during such examinations, the commissioner of insurance shall forward to the insurer a statement showing the amount of expenses incurred in such examination to the date of such statement. Whereupon, the insurer shall pay the amount so shown to the commissioner of insurance. Upon receipt of such payment the commissioner of insurance shall deposit same in an account styled "commissioner of insurance, revolving fund account", and withdrawals from said account shall be made by the commissioner of insurance for the purpose of payment to examiners, auditors, accountants, actuaries, attorneys, and clerical or other assistants of their salaries and necessary expenses incurred in the conduction of such examination.
Acts 1958, No. 125; Acts 1991, No. 793, §1; Redesignated from R.S. 22:1305 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.
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