§ 27-6-6-9 — Certificate of authority

Upon compliance with the requirements of this
chapter, the insurance department shall issue a certificate of authority
or a license to the attorney authorizing him to make such contracts of
insurance and shall contain the name of the attorney, the location of the
principal office, and the name or the designation under which such
contracts of insurance are issued. Such license shall be renewed
annually, upon a showing that the standard of solvency required in this
section has been maintained and all fees and taxes required have been
paid; provided, no certificate of authority shall be issued under this
section unless and until the subscribers and the attorney shall have
complied with the same character and fitness qualifications, plan of
operation, and standards for officers and directors as is required of
stock and mutual insurance companies under this title.
Formerly: Acts 1919, c.102, s.9; Acts 1967, c.232, s.7. As
amended by P.L.252-1985, SEC.219.