La. Admin. Code tit. 37 § XI-2303

Current through Register Vol. 50, No. 9, September 20, 2024

Section XI-2303 - Fee Assessment

A. As authorized by R.S. 40:1428, and subject to the limitations provided therein and in this rule, there is hereby assessed an annual fee not to exceed 0.000375 multiplied times the direct premiums received by each insurer licensed by the Department of Insurance to conduct business in this state.

B. The fee shall be assessed for each fiscal year, and shall be based on premiums received in the previous calendar year. The Commissioner of Insurance will notify insurers in writing of the fee assessment owed each fiscal year.

C. The total fees assessed for any year shall not exceed the amount necessary to pay the costs of investigation, enforcement, public education and public awareness, and prosecution of insurance fraud in this state by the programs to which funds are allocated in §2307 of this Rule.

D. Prior to making the allocations specified in §2307 of this Rule, the Commissioner of Insurance is authorized to withhold the sum of $30,000 per year from the fees collected to defray the expenses of collection of the fees, enforcement of this Subpart, and operation of the Department of Insurance and shall withhold $187,000 to fund the Automobile Theft and Insurance Fraud Prevention Authority Dedicated Fund Account pursuant to R.S. 22:2134.

La. Admin. Code tit. 37, § XI-2303

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.