La. Admin. Code tit. 37 § XI-2309
Current through Register Vol. 50, No. 11, November 20, 2024
Section XI-2309 - Payment of the Fee AssessmentA. The fee established in R.S. 40:1428 and in this rule shall be paid to the Commissioner of Insurance as required by R.S. 40:1428(B).B. After compliance with the requirements of Article VII, Section 9(B) of the Constitution of Louisiana relative to the Bond Security and Redemption Fund, an amount equal to that deposited as required by R.S. 40.1428 (C) shall be credited to the Insurance Fraud Investigation Dedication Fund Account in the state treasury. The monies shall be irrevocably dedicated and deposited in the insurance fraud investigation dedication fund account and shall be used solely as provided in R.S. 40:1428(A) and only in the amounts appropriated by the legislature. Monies in the fund shall be appropriated, administered, and used solely and exclusively for the purposes of the fraud unit, fraud support unit, office of insurance fraud, LATIFPA, and as further provided in R.S. 40:1428. All unexpended and unencumbered monies in this fund at the end of the fiscal year shall be refunded to each insurer licensed by the Department of Insurance to conduct business in this state assessed a fee pursuant to R.S. 40:1428 on a pro-rata basis based on each insurer's proportionate share of the total fees collected pursuant to this section.La. Admin. Code tit. 37, § XI-2309
Promulgated by the Department of Insurance, Office of the Commissioner, LR 26:323 (February 2000), Amended LR 4564 (1/1/2019), Amended LR 50526 (4/1/2024).AUTHORITY NOTE: Promulgated in accordance with R.S. 22:2 and 40:1428.