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-5113 - Conditions for Refusal of Letter of No Objection [Formerly Section 5109]
Universal Citation: LA Admin Code XIII-5113
Current through Register Vol. 50, No. 9, September 20, 2024
A. The commissioner may refuse to issue a letter of no objection if he finds:
1. the competence, experience, and integrity
of the individual are such that it would not be in the best interest of
policyholders, members or clients of the domestic regulated entity, or of the
public to allow the person to serve in the proposed position;
2. the individual has been convicted of, has
pled guilty or nolo contendere to, or has participated in a
pretrial diversion program pursuant to any charge of any felony or misdemeanor
involving moral turpitude, public corruption, or a felony involving dishonesty
or breach of trust;
3. the
individual knowingly makes a materially false statement or omission of material
information in the request for a letter of no objection;
4. any other reason now or hereinafter as
applicable statutes and regulations may provide.
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.
Disclaimer: These regulations may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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