La. Admin. Code tit. 34 § XIII-507
Current through Register Vol. 50, No. 9, September 20, 2024
Section XIII-507 - Procurement of Insurance and Related ServicesA. Contracts for Insurance. Contracts entered into by the university for the purchase of insurance or for obtaining services related to the operation of an insurance program shall be awarded in accordance with the provisions of this UPPC. Determination of the appropriate competitive method shall be made by the CPO.B. The university shall contract for consulting services with one or more licensed insurance producers. Such contract(s) may authorize one or more producers to advise the university regarding the insurance program and to procure insurance on behalf of the university.C. System-Wide Programs of Self-Insurance. Unless specifically authorized in advance, in writing, by the CEO or president for the university system governed by the management board, the provisions of this section shall not apply to any procurement related to any system-wide program of self-insurance or any other system-wide insurance or other employment benefit related programs.D. Splitting of Commissions Prohibited. It shall be unlawful for an agent to split, pass on, or share with any person, group, organization, or other agent, except the university, all or any portion of the commission derived from the sale of insurance to the university; except that on policies involving properties or exposure in more than one geographic area of the state, said commission may be split, shared, or passed on if authorized in writing by the CPO. In any such instance where the sharing of a commission on university insurance is authorized, it shall be only with a bona fide insurance agent.La. Admin. Code tit. 34, § XIII-507
Promulgated by the Board of Supervisors of Louisiana State University and Agricultural and Mechanical College, Office of Procurement and Property Management, LR 41546 (3/1/2015).AUTHORITY NOTE: Promulgated in accordance with R.S. 17:3139-3139.7 as amended by Act 749 of 2014.