[§431:4F-107]  Additional requirements forUnited States branch license.  (a)  Before issuing any new or renewallicense to any United States branch, the commissioner may require satisfactoryproof, either in the alien insurer's charter or by an agreement evidenced by aduly certified resolution of its board of directors, or otherwise as thecommissioner may require, that the insurer will not engage in any insurancebusiness in contravention of this section or not authorized by its charter.

(b)  The commissioner shall issue a renewallicense to any United States branch if satisfied, by such proof as required,that the insurer is not delinquent with respect to any requirement imposed bythis chapter and that its continuance in business in this State will not behazardous or prejudicial to the best interests of the people of this State.

(c)  No United States branch shall be licensedto do any kind of insurance business in this State, or any combination of kindsof insurance business, that are not permitted to be done by domestic insurerslicensed under this chapter.  No United States branch shall be authorized to doan insurance business in this State if it does anywhere within the UnitedStates any kind of business other than an insurance business and the businessnecessarily or properly incidental to the kind or kinds of insurance businessthat it is authorized to do in this State.

(d)  Except as otherwise specifically provided,no United States branch, entering through this State or another state, shall beor continue to be authorized to do an insurance business in this State if itfails to comply substantially with any requirement or limitation of thischapter, applicable to similar domestic insurers hereafter organized, which inthe judgment of the commissioner is reasonably necessary to protect theinterest of the policyholders.

(e)  No United States branch that, outside ofthis State, does any kind or combination of kinds of insurance business notpermitted to be done in this State by similar domestic insurers hereafterorganized, shall be or continue to be authorized to do an insurance business inthis State, unless in the judgment of the commissioner the doing of that kindor combination of kinds of insurance business will not be prejudicial to the bestinterests of the people of this State.

(f)  No United States branch shall be orcontinue to be authorized to do an insurance business in this State if it failsto keep full and correct entries of its transactions, which shall at all timesbe open to the inspection of persons invested by law with the rights ofinspection and be maintained in its principal office within this State. [L2004, c 120, pt of §2]