La. Admin. Code tit. 37 § XIII-17705

Current through Register Vol. 50, No. 6, June 20, 2024
Section XIII-17705 - Definitions
A. Strictly for the purposes of Regulation 119, the following terms are defined as follows:

Business of Insurance-the writing of insurance or the reinsuring of risks by an insurance producer, including all acts necessary or incidental to such writing or reinsuring, and the activities of persons who act as, or are, officers, directors, agents, or employees of producers, or who are other persons authorized to act on behalf of such persons.

Commissioner-the Louisiana Commissioner of Insurance.

Convicted-having been found guilty of a felony by a judge or jury, having entered a felony plea of guilty or nolo contendere or no contest, or having been given felony probation, a suspended sentence, or a fine, regardless of whether the record is expunged.

Employee-an individual who has established an employment relationship as a W-2 employee or as a 1099 independent contractor.

Insurance License-a document issued by the commissioner authorizing a person to act as an insurance producer issued pursuant to Title 22.

Insurance Producer-a person required to be licensed under the laws of this state to sell, solicit, or negotiate insurance, and includes all persons or business entities otherwise referred to as "insurance agent" or "agent," or "insurance broker" or "broker," or "insurance solicitor" or "solicitor," or "surplus lines broker" pursuant to R.S. 22:1542(6).

La. Admin. Code tit. 37, § XIII-17705

Promulgated by the Department of Insurance, Office of the Commissioner, LR 471879 (12/1/2021).
AUTHORITY NOTE: Promulgated in accordance with R.S. 22:11, 22:1554, and the Administrative Procedure Act, R.S. 49:950 et seq.