La. Stat. tit. 22 § 1603

Current with operative changes from the 2024 Third Special Legislative Session

Section 22:1603 - No discrimination against non-affiliated producers

No financial institution may:

(1) Offer a banking product or service, or fix or vary the conditions of such offer, on a condition or requirement that the customer obtain insurance from any particular producer.

(2) In connection with a loan or extension of credit that requires a borrower to obtain insurance, reject an insurance policy solely because such policy has been issued or underwritten by any person who is not associated with such institution.

(3) Impose any unreasonable requirement on any insurance producer who is not associated with the financial institution that is not imposed on any insurance producer who is associated with such institution.

La. R.S. § 22:1603

Acts 1997, No. 1475, §2, eff. July 15, 1997; Redesignated from R.S. 22:3062 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2011, No. 94, §1, eff. Jan. 1, 2012.

Acts 1997, No. 1475, §2, eff. 7/15/1997; Redesignated from R.S. 22:3062 by Acts 2008, No. 415, §1, eff. 1/1/2009; Acts 2011, No. 94, §1, eff. 1/1/2012.