PART IV-A. LOUISIANA AGRICULTURE
TRANSPORTATION GROUP SELF-INSURANCE FUND
§4351.1. Definitions
Wherever used in this Part, unless a different meaning clearly appears in the context,
the following terms, whether used in the singular or plural, shall have the following
meanings:
(1) "Bona fide trade or professional association" means an active trade or
professional association that is chartered and domiciled in Louisiana, or a successor
organization thereof, that meets all of the following requirements:
(a) Promotes Louisiana timber or agriculture production.
(b) Provides industry support and services to its membership.
(c) Is organized or created for purposes other than the sponsorship, operation, or
management of the fund or to provide a related employee safety program or other activity
necessary to the operation of the fund.
(d) Has been in existence and conducted regular meetings for a period of not less
than five years.
(2) "Department" means the Department of Insurance.
(3) "Fund" means the self-insurance fund established pursuant to this Part to provide
automobile coverage for timber transportation vehicles, agriculture transportation vehicles,
or a combination of both types of vehicles and shall be known as the Louisiana Agriculture
Transportation Group Self-Insured Fund.
(4) "Hazardous financial condition" means a condition in which, based upon its
present or reasonably anticipated financial condition, the fund, although not yet financially
impaired or insolvent, is unlikely to be able to:
(a) Meet obligations with respect to known claims and reasonably anticipated claims.
(b) Pay other obligations in the normal course of business.
(5) "Insolvency" means the condition existing when the fund's liabilities are greater
than the fund's assets as determined in accordance with generally accepted accounting
principles as delineated in the fund's financial statement audited by an independent certified
public accountant and calculated before a member distribution is payable or before a
dividend is declared.
(6) "Operator" means a person, partnership, corporation, or limited liability company
who owns or operates a timber or agriculture transportation vehicle.
(7) "Principal" means a person or persons who own a majority interest or the
majority of the stock in a corporation, partnership, or limited liability company that is
established for the purpose of operating a timber or agriculture business and is a member of
the fund.
(8) "Timber or agriculture transportation vehicle" means a vehicle or automobile
used to collect and transport timber or agriculture products, or used in the course and scope
of a timber or agriculture business, or used by an operator or principal.
(9) "Timber or agriculture transportation vehicle coverage" means automobile
coverage for a timber or agriculture transportation vehicle that includes any of the following:
(a) Liability payment for bodily injury caused by the operator of a timber or
agriculture transportation vehicle.
(b) Collision coverage to provide payment for repairs or replacement of a timber or
agriculture transportation vehicle.
(c) Comprehensive coverage to provide payment to repair or replace the timber or
agriculture transportation vehicle if it is damaged by some means other than a collision.
(d) Uninsured motorist coverage as defined in R.S. 22:1295.
Acts 2022, No. 586, §1, eff. June 17, 2022; Acts 2022, No. 598, §1, eff. June 18,
2022; Acts 2023, No. 191, §2, eff. June 8, 2023.