When used in this Part:
(1) "Commissioner" shall mean the commissioner of insurance of this state.
(2) "Residents" shall mean and include persons, partnerships, or corporations, domestic, alien, or foreign.
(3) "Unfair Trade Practice Law" shall mean the law relating to unfair methods of competition and unfair and deceptive acts and practices in the business of insurance, as set out in Part IV of this Chapter, R.S. 22:1961.