§ 4119 — Foreign and alien companies; license qualification

§ 4119. Foreign and alien companies; license qualification. No foreign\nor alien property/casualty insurance company shall be licensed to do\nbusiness in this state unless it shall have continuously transacted an\ninsurance business in the state or country of its incorporation for at\nleast three years immediately prior to the issuance of such license. The\nsuperintendent may waive or reduce the three year requirement, with\nrespect to a license applicant, upon determination that the three year\nperiod is not necessary to safeguard the interests of the public or\npolicyholders.\n