2012 Louisiana Laws
Revised Statutes
TITLE 39 — Public finance
RS 39:1631 — Direct purchase of insurance
SUBPART H. INSURANCE
§1631. Direct purchase of insurance
Notwithstanding the provisions of R.S. 22:11711 or any other law to the contrary, the state may purchase insurance policies covering any property or insurable interests or activities of the state directly from insurers or underwriters, without the necessity for signature or countersignature of such policies as provided by R.S. 22:11711, and in lieu thereof such policy shall be signed by an official or designated representative of the company issuing the policy. The insurers or underwriters making such direct sales to the state shall reduce the policy premiums by the amount of the commissions, which would have been paid, as required by R.S. 22:11711, but for the provisions of this Section. However, if any such insurance policy is purchased in accordance with the provisions of R.S. 22:11711, the agent may credit any portion of the commission to the state, through the division of administration. The state shall be advised of the amount of any such rebate at the time the agent furnishes a bid for such policy to the state, and the amount of such rebate shall be taken into consideration in determining the cost of such policy.
Added by Acts 1979, No. 715, §1, eff. July 1, 1980. Acts 2008, No. 415, §2, eff. Jan. 1, 2009.
1Repealed by Acts 1996, 1st Ex. Sess., No. 71.
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