§431:4-127 - Solicitation in other states.
§431:4-127 Solicitation in other states.
(a) No domestic insurer shall knowingly solicit insurance business in any
reciprocating state in which it is not then licensed as an authorized insurer.
(b) A reciprocating state, as used herein, is
one under the laws of which a similar prohibition is imposed upon and is
enforced against insurers domiciled in that state.
(c) This section shall not prohibit:
(1) Advertising through publications and radio
broadcasts originating outside the reciprocating state, if the insurer is
licensed in a majority of the states in which such advertising is disseminated,
and if the advertising is not specially directed to residents of the
reciprocating state; and
(2) Insurance covering persons or risks located in a
reciprocating state, under contracts solicited and issued in states in which
the insurer is then licensed. Nor shall it prohibit insurance effectuated by
the insurer as an unauthorized insurer in accordance with the laws of the
reciprocating state. [L 1987, c 347, pt of §2]