40-2,162.Change of domicile of insurer or mutualholding company,requirements; continuation ofcertificate of authority, agent appointments, licenses, rates and other items;rules and regulations.(a) An insurer organized under the laws of any otherstate and admitted to do business in this state for the purpose of writinginsurance may become a domestic insurer by complying with all of therequirements of law relative to the organization and licensing of a domesticinsurer of the same type and by designating the insurer's principal place ofbusiness ata place in this state. The domestic insurer will be entitled to likecertificates and licenses to transact business in this state, and shall besubject to the authority and jurisdiction of this state.
(b) A mutual holding company organized under the laws of any other statemay become a domestic mutual holding company by complying with all of therequirements of law relative to the organization of a domestic mutual holdingcompany and by designating the mutual holding company's principal place ofbusiness at a place in this state. The domestic mutual holding company shallbe subject to the authority and jurisdiction of this state.
(c) A domestic insurer, upon the approval of thecommissionerof insurance, may transfer the insurer's domicile to any other state in whichit is admittedto transact the business of insurance, and upon such a transfer shall cease tobe a domestic insurer, and shall be admitted to this state if qualified as aforeign insurer. The commissioner of insurance shall approve the proposedtransfer unless the commissioner determines the transfer is not in theinterest of the policyholders of this state.
(d) The certificate of authority, agents' appointments andlicenses, rates and other items which the commissioner allows, in thecommissioner'sdiscretion, that are in existence at the time an insurer licensed to transactthe business of insurance in this state transfers the insurer's corporatedomicile tothis or any other state by merger, consolidation or any other lawful methodshall continue in full force and effect upon transfer if the insurer remainsduly qualified to transact the business of insurance in this state. Forpurposes of existing authorizations and all other corporate purposes, theinsurer or mutual holding company is deemed the same entity as it wasprior to the transfer of itsdomicile. Alloutstanding policies of a transferring insurer shall remain in full force andeffect and need not be endorsed as to the new name of the company or thecompany's newlocation unless so ordered by the commissioner. A transferring insurer shallfile new policy forms with the commissioner on or before the effective date ofthe transfer, but may use existing policy forms with appropriateendorsements if allowed by, and under such conditions as approved by, thecommissioner. However, every transferring insurer or mutual holdingcompany shall notify thecommissioner of the details of the proposed transfer and shall file promptlyany resulting amendments to corporate documents filed or required to befiled with the commissioner.
(e) The commissioner may promulgate rules and regulationsto carry out thepurposes of this act.
(f) A foreign insurer or mutual holding company shall file restatedarticles of incorporation and certificate of domestication with the secretaryof state in a form prescribed by the secretary of state and approved by theinsurance commissioner to transfer to this state. A domestic insurer shallfile with the secretary of state a certificate or order issued by the insurancecommissioner approving the transfer to another state. An insurer who hastransferred to this state prior to the effective date of this subsection, withthe approval of the insurance commissioner pursuant to this act, shall bedeemedin compliance with the provisions of this act.
40-2,162.Change of domicile of insurer or mutualholding company,requirements; continuation ofcertificate of authority, agent appointments, licenses, rates and other items;rules and regulations.(a) An insurer organized under the laws of any otherstate and admitted to do business in this state for the purpose of writinginsurance may become a domestic insurer by complying with all of therequirements of law relative to the organization and licensing of a domesticinsurer of the same type and by designating the insurer's principal place ofbusiness ata place in this state. The domestic insurer will be entitled to likecertificates and licenses to transact business in this state, and shall besubject to the authority and jurisdiction of this state.
(b) A mutual holding company organized under the laws of any other statemay become a domestic mutual holding company by complying with all of therequirements of law relative to the organization of a domestic mutual holdingcompany and by designating the mutual holding company's principal place ofbusiness at a place in this state. The domestic mutual holding company shallbe subject to the authority and jurisdiction of this state.
(c) A domestic insurer, upon the approval of thecommissionerof insurance, may transfer the insurer's domicile to any other state in whichit is admittedto transact the business of insurance, and upon such a transfer shall cease tobe a domestic insurer, and shall be admitted to this state if qualified as aforeign insurer. The commissioner of insurance shall approve the proposedtransfer unless the commissioner determines the transfer is not in theinterest of the policyholders of this state.
(d) The certificate of authority, agents' appointments andlicenses, rates and other items which the commissioner allows, in thecommissioner'sdiscretion, that are in existence at the time an insurer licensed to transactthe business of insurance in this state transfers the insurer's corporatedomicile tothis or any other state by merger, consolidation or any other lawful methodshall continue in full force and effect upon transfer if the insurer remainsduly qualified to transact the business of insurance in this state. Forpurposes of existing authorizations and all other corporate purposes, theinsurer or mutual holding company is deemed the same entity as it wasprior to the transfer of itsdomicile. Alloutstanding policies of a transferring insurer shall remain in full force andeffect and need not be endorsed as to the new name of the company or thecompany's newlocation unless so ordered by the commissioner. A transferring insurer shallfile new policy forms with the commissioner on or before the effective date ofthe transfer, but may use existing policy forms with appropriateendorsements if allowed by, and under such conditions as approved by, thecommissioner. However, every transferring insurer or mutual holdingcompany shall notify thecommissioner of the details of the proposed transfer and shall file promptlyany resulting amendments to corporate documents filed or required to befiled with the commissioner.
(e) The commissioner may promulgate rules and regulationsto carry out thepurposes of this act.
(f) A foreign insurer or mutual holding company shall file restatedarticles of incorporation and certificate of domestication with the secretaryof state in a form prescribed by the secretary of state and approved by theinsurance commissioner to transfer to this state. A domestic insurer shallfile with the secretary of state a certificate or order issued by the insurancecommissioner approving the transfer to another state. An insurer who hastransferred to this state prior to the effective date of this subsection, withthe approval of the insurance commissioner pursuant to this act, shall bedeemedin compliance with the provisions of this act.
40-2,162.Change of domicile of insurer or mutualholding company,requirements; continuation ofcertificate of authority, agent appointments, licenses, rates and other items;rules and regulations.(a) An insurer organized under the laws of any otherstate and admitted to do business in this state for the purpose of writinginsurance may become a domestic insurer by complying with all of therequirements of law relative to the organization and licensing of a domesticinsurer of the same type and by designating the insurer's principal place ofbusiness ata place in this state. The domestic insurer will be entitled to likecertificates and licenses to transact business in this state, and shall besubject to the authority and jurisdiction of this state.
(b) A mutual holding company organized under the laws of any other statemay become a domestic mutual holding company by complying with all of therequirements of law relative to the organization of a domestic mutual holdingcompany and by designating the mutual holding company's principal place ofbusiness at a place in this state. The domestic mutual holding company shallbe subject to the authority and jurisdiction of this state.
(c) A domestic insurer, upon the approval of thecommissionerof insurance, may transfer the insurer's domicile to any other state in whichit is admittedto transact the business of insurance, and upon such a transfer shall cease tobe a domestic insurer, and shall be admitted to this state if qualified as aforeign insurer. The commissioner of insurance shall approve the proposedtransfer unless the commissioner determines the transfer is not in theinterest of the policyholders of this state.
(d) The certificate of authority, agents' appointments andlicenses, rates and other items which the commissioner allows, in thecommissioner'sdiscretion, that are in existence at the time an insurer licensed to transactthe business of insurance in this state transfers the insurer's corporatedomicile tothis or any other state by merger, consolidation or any other lawful methodshall continue in full force and effect upon transfer if the insurer remainsduly qualified to transact the business of insurance in this state. Forpurposes of existing authorizations and all other corporate purposes, theinsurer or mutual holding company is deemed the same entity as it wasprior to the transfer of itsdomicile. Alloutstanding policies of a transferring insurer shall remain in full force andeffect and need not be endorsed as to the new name of the company or thecompany's newlocation unless so ordered by the commissioner. A transferring insurer shallfile new policy forms with the commissioner on or before the effective date ofthe transfer, but may use existing policy forms with appropriateendorsements if allowed by, and under such conditions as approved by, thecommissioner. However, every transferring insurer or mutual holdingcompany shall notify thecommissioner of the details of the proposed transfer and shall file promptlyany resulting amendments to corporate documents filed or required to befiled with the commissioner.
(e) The commissioner may promulgate rules and regulationsto carry out thepurposes of this act.
(f) A foreign insurer or mutual holding company shall file restatedarticles of incorporation and certificate of domestication with the secretaryof state in a form prescribed by the secretary of state and approved by theinsurance commissioner to transfer to this state. A domestic insurer shallfile with the secretary of state a certificate or order issued by the insurancecommissioner approving the transfer to another state. An insurer who hastransferred to this state prior to the effective date of this subsection, withthe approval of the insurance commissioner pursuant to this act, shall bedeemedin compliance with the provisions of this act.
