§ 9-302. Purposes of subtitle

Latest version.

   The purposes of this subtitle are:

   (1) to provide a mechanism for the prompt payment of covered claims under certain policies and to avoid financial loss to residents of the State who are claimants or policyholders of an insolvent insurer; and

   (2) to provide for the assessment of the cost of payments of covered claims and protection among insurers.

HISTORY: An. Code 1957, art. 48A, § 504; 1996, ch. 11.

                    
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