§432:2-605 - Foreign or alien society, admission.
§432:2-605 Foreign or alien society,
admission. No foreign or alien society shall transact business in this
State without a license issued by the commissioner. Any such society desiring
admission to this State shall comply substantially with the requirements and
limitations of this article applicable to domestic societies. Any such society
may be licensed to transact business in this State upon filing with the
commissioner:
(1) A duly certified copy of its articles of
incorporation;
(2) A copy of its bylaws, certified by its secretary
or corresponding officer;
(3) A power of attorney to the commissioner as
prescribed in section 432:2-701;
(4) A statement of its business under oath of its
president and secretary or corresponding officers in a form prescribed by the
commissioner, duly verified by an examination made by the supervising insurance
official of its home state or other state, territory, province or country,
satisfactory to the commissioner of this State;
(5) Certification from the proper official of its
home state, territory, province or country that the society is legally
incorporated and licensed to transact business therein;
(6) Copies of its certificate forms; and
(7) Such other information as the commissioner may
deem necessary; and upon a showing that its assets are invested in accordance
with the provisions of this article. [L 1987, c 347, pt of §2]