Louisiana Bail Questions SOLUTIONS

Louisiana Bail Questions SOLUTIONS A Domestic insurance company - is a foreign insurer to other states - is a domestic insurer w/i the U.S. - is a foreign insurer only to other countries -must be incorporated in at least 2 states - ANSWER A domestic insurance co. is incorporated in the state within which it is located. It is a domestic insurer within its specific state - ie it is a foreign insurer to other states. A captive insurance co. exists primarily to underwrite the risks of the - parent owner - shareholders - partners - ANSWER A captive insurance company exists primarily to underwrite the risks of the parent owner. A domestic insurance company is incorporated in the state within which it is located. NoAgreement that lays the legal framework of insurance business - Partner declaration - Policy Declaration - Insurance agent partnership agreement - Shareholder dividend policy - Meeting minutes - ANSWER An insurance agent partnership agreement is for laying the legal framework of the insurance business. Its not legally required, although such an agreement in place is usually recommended. T or F: An arrest must be accopanied by physical restraints or handcuffs - ANSWER F: An arrest occurs when a person is taken into police custody and is no longer free to leave, w/ or w/o use of physical restraint/handcuffs. Main point of arrest is the exercise of police authority over a person as well as that person's voluntary or involuntary submission Process or procedure that involves the determination of a person's eligibility for release from custody in exchange for the posting of a set amt of money - Booking - Bailing - Bonding - Checking in - ANSWER After an arrest, there is a need for the processing of the arrested person into police custody. This is known as booking. It involves the determination of the person's eligibility for release from custody in exchange for the posting of a set amount of money, aka bail. T or F: Telling a partial truth is considered as concealment - ANSWER T: Concealment is hiding. Telling a partial truth is concealment since partial truth has obviously left something out. According to the doctrine of representations, a statement is considered as invalid even if the applicant honestly thought he was speaking the truth - ANSWER F: According to the doctrine of representations, a statement is considered as valid when the applicant honestly thought he was telling the truth T or F: When forming an insurance contract, an invitation to treat or to make an offer must come from the insurer - ANSWER F: When forming an insurance contract, an invitation to treat or to make an offer may come from the insurer or the applicant When coming from the insurer, it may be through an advertising program.