(1) A foreign or alien insurer may be authorized to transact insurance in this state when it has complied with the following requirements:
(a) It shall file with the Director of the Department of Consumer and Business Services a certified copy of its charter, articles of incorporation or deed of settlement and a statement of its financial condition and business in all states in such form and detail as the director may require, signed and sworn to by at least two of its executive officers or the United States manager.
(b) It shall satisfy the director that it is fully and legally organized under the laws of its state or government to do the business it proposes to transact.
(c) It shall satisfy the director that it is possessed of and will maintain at all times its required capitalization.
(d) It shall make such deposits with the Department of Consumer and Business Services as are required by the provisions of the Insurance Code.
(2) Upon compliance with the requirements of this section and all other requirements imposed on such insurer by the Insurance Code, the director shall issue to it a certificate of authority. [Formerly 736.205; 1999 c.196 §1]
Section: Previous 731.314 731.316 731.324 731.328 731.354 731.356 731.358 731.362 731.363 731.364 731.365 731.366 731.367 731.369 731.370 NextLast modified: August 7, 2008