§431:3-308  Alien government owned insurers. No license to transact any kind of insurance business in this State shall beissued or renewed to any foreign or alien insurer or issued or continued ineffect to any domestic insurer which is owned or financially controlled byanother state of the United States other than this State, or by a foreigngovernment, or by any political subdivision of either, or which is an agency orinstrumentality of any such state, government, or subdivision, unless theinsurer was so owned or controlled prior to January 1, 1957, and was authorizedto do business in this State on or prior to that date. [L 1987, c 347, pt of§2]