RS 12:1852: Creation of fund

The Louisiana Churches and Nonprofit Religious Organizations Self-Insured Fund is hereby created for the purpose of allowing churches, religious organizations, and religious denominations to band together and self-insure, thereby increasing the availability of property insurance for local churches and religious buildings, increasing competitive pressure on insurance rates, and reducing the volume of business written by the Louisiana Citizens Property Insurance Corporation by offering a less expensive alternative to its policyholders and reducing the exposure and potential assessments to policyholders by the Louisiana Citizens Property Insurance Corporation.