Insurance Law 4119 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 4118 Limitation of risks; fidelity and surety; fire; hospital mutuals up ARTICLE 41 Property/casualty Insurance Companies next SECTION 4121 Security may be required from banking officers and employees Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 4119 Foreign and alien companies; license qualification Insurance (ISC) CHAPTER 28, ARTICLE 41 § 4119. Foreign and alien companies; license qualification. No foreign or alien property/casualty insurance company shall be licensed to do business in this state unless it shall have continuously transacted an insurance business in the state or country of its incorporation for at least three years immediately prior to the issuance of such license. The superintendent may waive or reduce the three year requirement, with respect to a license applicant, upon determination that the three year period is not necessary to safeguard the interests of the public or policyholders.