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iness in this State, shall contain any clause or provision requiring the assured to take out or maintain a larger amount of insurance than that covered by such policy, nor in any way providing that the assured shall be liable as co-insurer with the company issuing the policy for any part of the loss or damage which may be occasioned by fire, lightning or windstorm to the property located in this State covered by such policy, nor making provisions for a reduction of such loss or damage, or any part thereof, by reason of the failure of the assured to take out and maintain other insurance upon said property. And all clauses and provisions in such insurance policies, issued after the taking effect of this Act, in contravention of the prohibitions in this Act contained, shall be ab initio void and of no effect. Provided, that the provisions of this Act shall not apply to policies issued upon personal or movable property whenever the said policies are stamped on the face and back of the policy as follows:
"This policy is issued subject to the conditions of the coinsurance clause attached hereto."
Three-quarter Country Clause.
3753. [Act 183, 1898, p. 429.] In the enforcement of the three-quarter country clause of any fire insurance policy for any loss thereunder in this State, that in all cases where the insurer elects to replace movable property in kind or to rebuild or repair immovable property, rather than to pay the loss in money, it shall not be lawful to require the assured to contribute any portion of the cost of such replacing, rebuilding or repairing. What to Be Paid in Case of Total Loss.
3754. [Sec. 1, Act 148, 1894, p. 187.] In all contracts of fire insurance which may hereafter be entered into and which are intended to take effect on property immovable by nature or destination situated within this State, the insurer shall pay to the insured in case of total loss the total amount for which the property is insured in the policy or policies, provided the insurance is not in excess of the value of the property, or does not exceed three-fourths the value of the property where the threequarter clause has been made a part of the contract.
This does not apply to movables, Hart vs. Ins. Co., 136 La. 558).
3755. [Sec. 2.] In the event of damage or partial loss the insurer shall pay to the insured the face value of the policy
or policies not however in excess of the actual amount of damages sustained or in excess of three-fourths the value of the property where the three-quarter clause has been made a part of the contract.
Contrary Clause in Policies Null.
3756. [Sec. 3.] Any clause, condition or provision made in any policy of insurance subsequent to the promulgation of this act contrary to this act shall be null and void.
3757. [Sec. 1, Act 135, 1900, p. 209.] Whenever a policy of insurance against loss by fire is hereafter written or renewed, on property immovable by nature and situate in this State, and the said property shall be either partially damaged or totally destroyed, without criminal fault on the part of insured or his assigns, the value of the property as assessed by the insurer or as by him permitted to be assessed at the time of the issuance of the policy, shall be conclusively taken to be the true value of the property at the time of the issuance of the policy and the true value of the property at the time of the damage or destruction. Provided, that nothing herein shall be so construed as to prevent the insurer previous to the damage or destruction of property from reducing the insurance thereon.
Right to Restore.
3758. [Sec. 2.] Whenever any policy of insurance against loss by fire, is hereafter written or renewed on property situate in this State, and the said property shall be totally destroyed without criminal fault upon the part of the insured or his assigns, the full amount of the insurance on the property so destroyed. shall be paid by the insurer, and that when the said property shall be partially damaged, without criminal fault on the part of the insured or his assigns, the insurer shall pay to the insured such amount as will permit the insured to restore the damaged property to its original condition. Provided that nothing herein shall be so construed as to prevent the insurer from replacing property partially damaged or totally destroyed at his own expense and without contribution on the part of the insured.
Real Estate Co. vs. Ins. Co., 128 La. 45.
Co-insurance clause not violative of this statute, Simon vs. Ins. Co., 120 La. 477.
Act applies only to movables by nature, Melancon vs. Ins. Co., 116 La. 324.
Refunding Part of Premium in Case of Total Loss.
3759. [Act 149, 1888, p. 209.] Fire insurance companies doing business in the State shall refund to the insured all premiums collected on the difference between the values of the real property fixed in the policy of insurance and agreed to be paid and the amount of the judgment rendered against said company in case of total loss by fire, together with legal interest on such premiums from date of their payment.
Additional Annual Statement Required of Fire Insurance Companies.
3760. [Sec. 1, Act 225, 1914, p. 423.] Each and every fire insurance company authorized to do business in this State shall file annually not later than March 1st with the Secretary of State on a form furnished by him, a statement, in addition to that now required by law, of all business done in the State of Louisiana during the year ending December 31st next preceding, showing a complete tabulated classification of its net premium receipts after deducting reinsurance and return premiums, and its net losses after deducting reinsurance collected for the said year, including the amount insured under each of said classes. No Certificate to Be Granted Company Failing to Comply.
3761. [Sec. 2.] The Secretary of State shall refuse to grant a certificate of authority to any company failing to comply with the provisions of Section 1 of this Act.
FOREIGN FIRE INSURANCE COMPANIES.
Compliance With Act Required.
3762. [Sec. 1, Act 295, 1914, p. 603.] No fire insurance company, corporation or association not incorporated by the laws of this State shall carry on any fire insurance business in this State, save and except upon compliance with the conditions in this Act hereinafter imposed as well as all other conditions now or hereafter imposed by law.
Returns to Secretary of State.
3763. [Sec. 2.] Every fire insurance company, corporation or association incorporated under the laws of any other State, or any foreign government or country now or hereafter desiring to engage in or carry on business in this State, shall return to the Secretary of State of the State of Louisiana a just and true account, verified by oath of the proper officer that the
same is a true account of all premiums received from fire insurance business done during the year ending December 31st of each year in any incorporated town, city or village of this State having or that may have a regularly organized fire department under the control of the Mayor and Council or other constituted authority and having in serviceable condition for fire duty fire apparatus and necessary equipments belonging thereto to the value of $1,000 and upward. Such returns must be made by said companies, corporations or associations within sixty days after the promulgation of this act, and thereafter within sixty days after the 31st day of December of each year.
One Per Cent. Tax on Premiums.
3764. [Sec. 3.] Every fire insurance company aforesaid shall within sixty days after approval of this Act and thereafter within sixty days after the 31st day of December of each year, deliver and pay to the State Treasurer the sum of $1 upon the $100, and at that rate upon the amount of all premiums written on fire insurance within the limits of such incorporated cities, towns or villages during the year ending December 31st in each preceding year or for such portion of such period as said company, corporation or association shall have done business in this State.
Must Keep Accounts.
3765. [Sec. 4.] Every such company, corporation or association shall keep accurate books of account of all business done by them on fire insurance within the limits of such incorporated city, town or village, and in case of failure of compliance with this act, or fraud or dishonesty in such returns as provided for in Section 2 of this act, made by such company, corporation or association shall be apparent it shall be the duty of the Secretary of State to investigate such returns and collect the amount which he shall find to be due.
Penalty for Failure to Keep Accounts.
3766. [Sec. 5.] Every such company, which shall neglect to keep such books of account as aforesaid or shall fail or neglect to report or pay over any of the money due on premiums as aforesaid at the time and in the manner specified in the preceding sections of this act or who shall be found upon examination to have made a false return of business done by them shall for each offense forfeit the sum of $500 to be applied for the purposes hereinafter prescribed in this Act.
Penalty for Failure to Pay.
3767. [Sec. 6.] In case of making a default in payment or in case of failure to pay or satisfy any forfeiture adjudged to be due by the provisions of this Act, the Secretary of State of the State of Louisiana shall forthwith revoke the license of such company, corporation or association to do business in this State, and after such revocation it shall be unlawful for such company, corporation or association to do business in this State. Provided, that the Secretary of State may upon compliance by such company, corporation or association with the requirements of this Act permit it to do business in this State.
State Treasurer to Pay Over to Municipal Treasurers.
3768. [Sec. 7.] The State Treasurer shall pay over to the Treasurer of the cities, towns, or villages having or that may hereafter have a regular organized fire department, as aforesaid in Section 2 of this Act, the full and respective amounts collected upon the premiums on business done in each said cities, towns or villages, respectively, from the foreign insurance companies, corporations or associations doing business therein. Provided, that the moneys so paid over to and received by the said cities, towns or villages shall be by them respectively set apart and used solely and entirely for the objects and purposes of this Act.
Collections Under This Act for Use of Fire Departments.
3769. [Sec. 8.] All money so collected and received under the provisions of this Act by the Treasurer of any incorporated city or town or village, shall within thirty days from the time said moneys are received as aforesaid be paid over by said Treasurer to the Secretary-Treasurer, Treasurer, or other fiscal representatives of the organized fire department, of said city, town or village. Provided, that all such moneys derived under the provisions of this Act shall be used for the purpose of rendering more efficient and efficacious the fire department of said city, town or village as the Board of Commissioners, Fire Board or other governing body of said department shall see fit and direct, and for no other purpose whatsoever.
FIRE INSURANCE BROKERS AND ADJUSTERS.
License Fee to be Paid by Brokers.
3770. [Act 276, 1914, p. 545.] The Secretary of State and Insurance Commissioner may upon the payment of twenty