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1807 Family Therapy for at Least Five

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1807 Family Therapy for at Least Five family therapy for at least five years in another jurisdiction. and their spouses who are appropriately licensed in another The applicant must submit an application on forms jurisdiction will receive a status update from the board prescribed by the board in the prescribed manner and pay the within 30 days pertaining to approval or denial of the required licensure fee. Applicants must also have passed the application. Such applicants must provide proof of military Association of Marital and Family Therapy Regulatory status via DD Form 214 as part of the completed application. Board's examination in marital and family therapy. An AUTHORITY NOTE: Promulgated in accordance with R.S. applicant must submit documentation of at least 40 CEHs, in 37:1101-1122. accordance with the requirements listed in Chapter 33, HISTORICAL NOTE: Promulgated by the Department of Health within two years of the date of application for licensure and Hospitals, Licensed Professional Counselors Board of endorsement in Louisiana. An applicant must also be in good Examiners, LR 39:1807 (July 2013). standing in all jurisdictions in which they are licensed and Mary Alice Olsan must not have been disciplined in any jurisdiction for an act Executive Director that would have constituted grounds for refusal, suspension, 1307#015 or revocation of a license to practice marriage and family therapy in the state of Louisiana at the time the act was RULE committed. B. Upon recommendation of the board and marriage and Department of Insurance family therapy advisory committee, the board shall issue a Office of the Commissioner license to any person licensed as a licensed as a marriage and family therapist for less than five years in another Credit for Reinsurance (LAC 37:XIII.Chapter 35) jurisdiction whose requirements for the license are substantially equivalent to or exceed the requirements of the In accordance with the provisions of the Administrative state of Louisiana. The applicant must submit an application Procedure Act, R.S. 49:950 et seq., and through the authority on forms prescribed by the board in the prescribed manner granted in R.S. 22:2(E), R.S. 22:11, and R.S. 22:651, that the and pay the required licensure fee. Applicants must also commissioner of insurance has amended Chapter 35 to provide proof of having passed the Association of Marital facilitate the reduction of required reinsurance collateral for and Family Therapy Regulatory Board's examination in Louisiana insurers doing business with non-U.S. reinsurers. marital and family therapy. An applicant must also be in Under the prior law and current regulation, non-U.S. good standing in all jurisdictions in which they are licensed reinsurers must provide collateral through a qualified U.S. and must not have been disciplined in any jurisdiction for an financial institution for 100 percent of potential liabilities to act that would have constituted grounds for refusal, U.S. insurers with which they enter into reinsurance suspension, or revocation of a license to practice marriage contracts. The current law maintains the previous system of and family therapy in the state of Louisiana at the time the collateral and provides a method for a highly-rated, non-U.S. act was committed. reinsurer from certain jurisdictions to seek a reduction of the AUTHORITY NOTE: Promulgated in accordance with R.S. amount of required collateral through the certification of 37:1101-1122. reinsurers from qualified jurisdictions. This regulation HISTORICAL NOTE: Promulgated by the Department of Health provides for a system of evaluating reinsurers for and Hospitals, Licensed Professional Counselors Board of certification and jurisdictions for qualification in accordance Examiners, LR 39:1807 (July 2013). with the R.S. 22:651. The permitted collateral reductions §3703. Expedited Processing vary from 25 to 100 percent depending on the rating A. The board does not issue temporary practice permits; assigned to the reinsurer by the commissioner. Certified however, expedited application processing is available. The reinsurers found to be vulnerable would have a 100 percent applicant must submit the completed application (i.e. for collateral requirement. The actions and information required licensure, registration, etc.), expedited processing by this regulation are hereby declared to be necessary and application, and the required fee. Upon receipt of the appropriate in the public interest and for the protection of the aforementioned items, the applicant will receive a response ceding insurers in this state. from a board staff member within five business days Title 37 informing the applicant of the status of their application. If INSURANCE the application materials submitted do not contain all of the Part XIII. Regulations necessary documents to complete the application, the Chapter 35. Regulation 56—Credit for Reinsurance application will be reviewed on the following application §3501. Purpose review date and the expedited processing application fee will A. The purpose of this regulation is to set forth rules and not be refunded. procedural requirements that the commissioner deems B. All applicants whom board staff determines should be necessary to carry out the provisions on credit for denied or reviewed by the board must be presented to the reinsurance, R.S. 22:651 et seq. The actions and information board at the next regularly scheduled board meeting. required by this regulation are hereby declared to be Therefore, a verdict of denial may not be achieved within necessary and appropriate in the public interest and for the five business days of receipt of all application materials for protection of the ceding insurers in this state. expedited processing. Those applicants whom board staff AUTHORITY NOTE: Promulgated in accordance with R.S. determines should be approved will receive notification of 22, Sections 2(E), 11 and 651. approval within five business days. HISTORICAL NOTE: Promulgated by the Department of C. Military personnel (active duty and veterans Insurance, Office of the Commissioner, LR 21:1246 (November honorably discharged within 5 years of the application date) 1995), amended LR 39:1807 (July 2013). 1807 Louisiana Register Vol. 39, No. 07 July 20, 2013 §3503. Severability accreditation has been revoked by the commissioner, or if A. If any provision or item of this regulation, or the the reinsurance was ceded while the assuming insurer’s application thereof, is held invalid, such invalidity shall not accreditation was under suspension by the commissioner. affect other provisions, items, or applications of the AUTHORITY NOTE: Promulgated in accordance with R.S. regulation which can be given effect without the invalid 22, Sections 2(E), 11 and 651. provision, item, or application. HISTORICAL NOTE: Promulgated by the Department of AUTHORITY NOTE: Promulgated in accordance with R.S. Insurance, Office of the Commissioner, LR 21:1246 (November 22, Sections 2(E), 11 and 651. 1995), amended LR 39:1808 (July 2013). HISTORICAL NOTE: Promulgated by the Department of §3509. Credit for Reinsurance—Reinsurers Insurance, Office of the Commissioner, LR 21:1246 (November Maintaining Trust Funds 1995), amended by Louisiana Legislature, House Concurrent A. Pursuant to R.S. 22:651(D), the commissioner shall Resolution Number 135 of the 2001 Regular Session, LR 27:1102 allow credit for reinsurance ceded by a domestic insurer to (July 2001), amended by the Department of Insurance, Office of the an assuming insurer which, as of any date on which statutory Commissioner, LR 39:1808 (July 2013). financial statement credit for reinsurance is claimed, and §3505. Credit for Reinsurance—Reinsurer Authorized thereafter for so long as credit for reinsurance is claimed, in this State maintains a trust fund in an amount prescribed below in a A. Pursuant to R.S. 22:651(B), the commissioner shall qualified United States financial institution as defined in allow credit for reinsurance ceded by a domestic insurer to R.S. 22:653(B), for the payment of the valid claims of its an assuming insurer that was authorized in this state as of United States domiciled ceding insurers, their assigns and any date on which statutory financial statement credit for successors in interest. The assuming insurer shall report reinsurance is claimed. annually to the commissioner substantially the same AUTHORITY NOTE: Promulgated in accordance with R.S. information as that required to be reported on the National 22, Sections 2(E), 11 and 651. Association of Insurance Commissioners (NAIC) annual HISTORICAL NOTE: Promulgated by the Department of Insurance, Office of the Commissioner, LR 21:1246 (November statement form by authorized insurers, to enable the 1995), amended LR 39:1808 (July 2013). commissioner to determine the sufficiency of the trust fund. §3507. Credit for Reinsurance—Accredited Reinsurers B. The following requirements apply to the following A. Pursuant to R.S. 22:651(C) the commissioner shall categories of assuming insurer. allow credit for reinsurance ceded by a domestic insurer to 1. The trust fund for a single assuming insurer shall an assuming insurer that is accredited as a reinsurer in this consist of funds in trust in an amount not less than the state as of the date on which statutory financial statement assuming insurer’s liabilities attributable to reinsurance credit for reinsurance is claimed. An accredited reinsurer ceded by United States domiciled insurers, and in addition, shall: the assuming insurer shall maintain a trusteed surplus of not 1. file
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