Amendment vs bill Senate Committee Amendment, #2429, COM, Draft vs Enrolled

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Regular Session ENROLLED SENATE BILL NO.
SCASB341 2810 2429 SENATE COMMITTEE AMENDMENTS Regular Session Amendments proposed by Senate Committee on Commerce, Consumer Protection and International Affairs to Original Senate Bill No.
341 BY SENATORS EDMONDS AND HODGES AND REPRESENTATIVES BAMBURG, BAYHAM, GALLE, GLORIOSO, HEBERT, ILLG, MELERINE, MURRAY AND WILDER AN ACT To amend and reenact R.S.
341 by Senator Edmonds AMENDMENT NO.
12:1853, the introductory paragraph of 1854, 1854(3) and (7), the introductory paragraph of 1855(B)(1), 1855(B)(2)(b)(xiii), 1856(A)(3) and (4), and 1870 and to enact R.S.
1 On page 1, line 2, after "R.S.
12:1855(A)(5)(c) and 1856(H) and to repeal R.S.
12:1853" delete "and 1854(3) and (7)," and insert ", the introductoryparagraph of 1854, 1854(3) and (7), the introductoryparagraph of 1855(B)(1), (B)(2)(b)(xiii), 1856(A)(3) and (4), and 1870, to enact R.S.
12:1855(A)(5)(b) and 1856(E), relative to the Louisiana Churches and Nonprofit ReligiousOrganizationsSelf-InsuredFund;toprovidefordefinitions;toprovidefor initial financial requirements;
12:1856(H), and to repeal R.S.
to provide for records and recordkeeping;
12:1854(7)(e)," AMENDMENT NO.
to provide fortechnicalchangesbytheLouisianaStateLawInstitute;toprovideforaneffective date;
2 On page 1, line 8, after "R.S.
and to provide for related matters.
12:1853" delete "and 1854(3) and (7)," and insert ", the introductoryparagraph of 1854, 1854(3) and (7), the introductoryparagraph of 1855(B)(1), (B)(2)(b)(xiii), 1856(A)(3) and (4), and 1870 are hereby amended and reenacted and R.S.
Be it enacted by the Legislature of Louisiana:
12:1856(H) is hereby enacted to" AMENDMENT NO.
Section 1.
3 On page 2, delete lines 6 through 24 and insert:
R.S.
"Wherever used in this Chapter, unless a different meaning clearly appears in thecontext,thefollowingterms,whetherusedin thesingularorplural,shallhave thefollowingmeaningsForthepurposesofthisChapterthefollowingdefinitions terms shall have the following meanings:
12:1853, the introductory paragraph of 1854, 1854(3) and (7), the introductoryparagraphof1855(B)(1),1855(B)(2)(b)(xiii),1856(A)(3)and(4),and1870are herebyamended and reenactedand R.S.
12:1855(A)(5)(c)and 1856(H) areherebyenacted:
§1853.
Authorization;
requirements;
regulation A.Twoormorechurchesornonprofitreligiousorganizationsoroneormore religious denominations may agree to pool their liabilities for the purposes of providing property commercial coverage for their buildings and other properties, so long as theyhave a positive net worth, are financiallysolvent, and are capable of assuming the obligations set forth in this Chapter.
B.
Pools may also be created for commercial coverages that are analogoustocommercialpropertyinsuranceintheprivatemarketasapproved by the commissioner.
B.C.Thedepartmentshallpromulgatenecessaryrulesinaccordancewiththe AdministrativeProcedureActtoimplementandregulatetheactivitiesauthorizedin this Chapter.
§1854.
Definitions Page 1 of 5 Coding:
Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
SB NO.
341 ENROLLED Whereverused in this Chapter,unless a differentmeaningclearlyappearsin the context, the following terms, whether used in the singular or plural, shall have the following meanings For the purposes of this Chapter the following terms have the following meanings:
initial financial requirements A.
initial financial requirements * * * B.(1) The fund shall submit to the department an application, on an application form prescribed and furnished by the department, for authority to act as a group self-insurance fund for property commercial coverage.
* * * (5) * * * (c)ExceptasotherwiseprovidedinSubparagraph(a)ofthisParagraph, original books, records, documents, accounts, and vouchers, or reproductions thereof,shallbepreservedandkeptinthisstateforthepurposeofexamination and until theauthoritytodestroyorotherwisedisposeoftherecordsis secured fromthedepartment.Alloriginalrecordsorcertifiedreproductionsorrecords originally received in a digital or electronic format shall be maintained for the period commencing on the first day following the last period examined by the department through the subsequent examination period, or five years, Page 2 of 5 Coding:
Each application shall include evidence of the fund's inception, which establishes financial strength andliquidityofthememberstopayclaimspromptlyandsupportthefinancialability ofthefundto satisfyitsobligationsupontheestablishmentofthefund,includingall of the following:
Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
SB NO.
341 ENROLLED whichever is longer.
* * * B.(1) The fund shall submit to the department an application, on an application form prescribed and furnished bythe department, for authority to act as a group self-insurance fund for property commercial coverage.
Each application shall include evidence of the fund's inception, which establishes financial strength andliquidityofthememberstopayclaimspromptlyandsupportthefinancialability ofthefundto satisfyits obligations upontheestablishmentofthefund,includingall of the following:
* * * (xiii) Proof of advance A pledge to make an advance payment to the fund by each initial member of the fund of not less than twenty-five percent of that member's first year estimated annually earned normal premiums prior to the fund providingcoverage.Ifthefundprovidescoveragepriortoeveryinitialmember of the fund making the advance payment pledged pursuant to this Item, the commissionershallsuspendthefund'scertificateorauthorityuntileveryinitial member of the fund has made his pledged advance payment, and the commissioner may take additional regulatory action as authorized in this Chapter.
* * * (xiii) Proof of advance A pledge to make an advance payment to the fund by each initial member of the fund of not less than twenty-five percent of that Page 1 of 2 SCASB341 2810 2429 member's first year estimated annually earned normal premiums prior to the fund providingcoverage.Ifthefundprovidescoveragepriortoeveryinitialmember of the fund making the advance payment pledged pursuant to this Item, the commissionershallsuspendthefunds'certificateorauthorityuntileveryinitial member of the fund has made their pledged advance payment, and the commissioner may take additional regulatory action as authorized in this Chapter.
refunds A.The fund established pursuant to this Chapter shall complywith all ofthe following items:
refunds A.
* * * Page 3 of 5 Coding:
The fund established pursuant to thisChaptershallcomplywith all of the following items:
Words which are struck through are deletions from existing law;
* * * (3) Provide property commercial coverage as required bythis Chapter.
words in boldface type and underscored are additions.
SB NO.
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341 ENROLLED (3) Provide property commercial coverage as required bythis Chapter.
22:651 through 661, andFinancialAccountingStandard Number 113aspromulgatedandupdatedbythe Financial Accounting Standards Board.
22:651 through 661, and Financial AccountingStandardNumber113aspromulgatedandupdatedbythe Financial Accounting Standards Board.
Jurisdiction A.Exceptas otherwiseprovided in Subsection B of this Section, The the NineteenthJudicial DistrictCourt shall haveexclusivejurisdiction overanycivil or criminal proceeding instituted pursuant to this Chapter.
Jurisdiction A.
B.Thefundandamemberofthefundmaycontractuallyagree,through Page 4 of 5 Coding:
Except as otherwise provided in Subsection Bof this Section, The the NineteenthJudicialDistrict Court shall have exclusivejurisdiction overanycivil or criminal proceeding instituted pursuant to this Chapter.
Words which are struck through are deletions from existing law;
B.Thefundandamemberofthefundmaycontractuallyagree,through apolicyofinsuranceorotherwise,toresolveaclaimdisputethroughmediation pursuant to the Louisiana Medicaiton Act, R.S.
words in boldface type and underscored are additions.
SB NO.
341 ENROLLED apolicyofinsuranceorotherwise,toresolveaclaimdisputethroughmediation pursuant to the Louisiana Mediation Act, R.S.
22:1807.11 et seq.
22:1807.11 et seq." Page 2 of 2
Section 2.
R.S.
12:1855(A)(5)(b) and 1856(E) are herebyrepealed.
Section 3.
The Louisiana State Law Institute, pursuant to its statutory authority, is hereby directed to change "property coverage" to "commercial coverage" in Chapter 28 of Title 12 of the Louisiana Revised Statutes of 1950.
Section 4.
This Act shall become effective upon signature bythe governor or, if not signedbythegovernor,uponexpirationofthetimeforbillstobecomelawwithoutsignature by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana.
If vetoed bythe governorand subsequentlyapprovedbythe legislature, this Act shall become effective on the dayfollowing such approval.
PRESIDENT OF THE SENATE SPEAKER OF THE HOUSE OF REPRESENTATIVES GOVERNOR OF THE STATE OF LOUISIANA APPROVED:
Page 5 of 5 Coding:
Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.