TITLE 27
Insurance

CHAPTER 27-59
Alien Insurance Companies

SECTION 27-59-2


§ 27-59-2 Licensing authority.

Any alien insurance company, with the approval of the commissioner, may be treated, in whole or in part, as a domestic insurer of this state; provided, that:

(1) The alien insurance company appoints a resident registered agent to accept service of process and to act on its behalf in this state. Whenever the registered agent cannot with reasonable diligence be found at the registered office of the alien insurance company, the commissioner shall be an agent of the alien insurance company on which any process, notice, or demand may be served; and

(2) The alien insurance company obtains from the commissioner a license authorizing it to do insurance business in the state.

History of Section.
(P.L. 1997, ch. 67, § 1.)