Insurance Law 7201 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search up ARTICLE 72 Domestication of the United States Branch of an Alien Insurer next SECTION 7202 Domestication of the United States branch of an alien insurer permitted Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 7201 Definitions Insurance (ISC) CHAPTER 28, ARTICLE 72 § 7201. Definitions. In this article: (a) "Domestication" means the reorganization pursuant to the provisions of this article of the United States branch of an alien insurer whereby a domestic or foreign insurer succeeds to all business and assets and assumes all liabilities of such branch. (b) "United States branch" means the business unit through which business is transacted within the United States by an alien insurer and the assets and liabilities of such insurer within the United States pertaining to such business. (c) "Domestic insurer" means a stock insurance company incorporated under the laws of this state. (d) "Foreign insurer" means a stock insurance company incorporated under the laws of any other state.