Louisiana Administrative Code
Title 37 - INSURANCE Part
Part XIII - Regulations
Chapter 51 - Regulation 66-Requirements for Officers, Directors, and Trustees of Domestic Regulated Entities
Section XIII-5107 - Definitions [Formerly Section 5103]
Current through Register Vol. 50, No. 9, September 20, 2024
A. For the purpose of Regulation 66, the following definitions shall be applicable.
Director - person(s) designated in the articles of incorporation, by-laws, or other organizational documents as such, and person(s) designated, elected, or appointed by any other name or title to act as director(s), and their successor(s).
Domestic Regulated Entity - any Louisiana domiciled entity which is required to obtain a license or certificate of authority from or register with the commissioner. This definition shall include, but is not limited to, all domestic regulated entities such as stock and mutual insurers, domestic captive insurers, mutual holding companies, non-profit funeral service associations, domestic service insurers, reciprocal insurers, Lloyd's plans, fraternal benefit societies, viatical settlement providers, viatical settlement investment agents, viatical settlement brokers, vehicle mechanical breakdown insurers, property residual value insurers, health maintenance organizations, risk indemnification trusts, third party administrators, interlocal risk management agencies, or any plan of self-insurance providing health and accident or workers compensation coverage to employees of two or more employers. This term shall not include motor vehicle rental insurers, insurance agencies, brokers, managing general agents, producers, reinsurance intermediary brokers, claims adjusters, public adjusters, or insurance producers acting as viatical settlement brokers pursuant to R.S. 22:1792(A)(1).
Officer - a president, vice-president, treasurer, secretary, controller, actuary, partner, and any other person who performs for the domestic regulated entity a part of the substantive functions corresponding to those performed by the foregoing officers. Officer shall also include the administrator of a plan of self-insurance providing health and accident or workers' compensation coverage to employees of two or more employers or a risk indemnification trust.
Trustee - the trustee of a trust, which provides health and accident or workers' compensation coverage to employees of two or more employers or of a risk indemnification trust.
AUTHORITY NOTE: Promulgated in accordance with R.S. 22:11, 258, 372, 392, 467, 1772, 1804, 1922, and 2198, R.S. 23:1200.1, and R.S. 33:1348 and 1358.
