La. Admin. Code tit. 4 § V-505

Current through Register Vol. 50, No. 11, November 20, 2024

Section V-505 - Repair or Replacement of Property

A. Except for state-owned vehicles provided for in Paragraph B, infra, if repair or replacement of damaged, destroyed, or stolen state-owned property, to include buildings and improvements, boiler and machinery equipment, contents, inventories (including mobile equipment and excluding licensed vehicles), and marine hulls 26 feet and under, is not commenced within 36 months of the loss date, or if a proof of loss is not submitted within 36 months of the date of loss, the claim file will be closed. No liability will remain to the insurance fund, and the loss will not be charged to the loss experience of the affected agency.

B. If repair or replacement of damaged, destroyed, or stolen state-owned vehicles is not completed within 18 months of the loss date, or if a proof of loss is not submitted within 18 months of the date of loss, the claim file will be closed. No liability will remain to the insurance fund, and the loss will not be charged to the loss experience of the affected agency.

La. Admin. Code tit. 4, § V-505

Written by the Office of the Governor, Division of Administration, October 1, 1966, promulgated LR 1:82 (February 1975), amended LR 14:294 (May 1988).

AUTHORITY NOTE: Promulgated in accordance with R.S. 39:4 and R.S. 39:1527, et seq.