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  • SECTION 1102
    Insurer's license required; issuance
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  • ARTICLE 11
    Licensing of Insurers
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  • SECTION 1104
    Revocation or suspension of license; restriction of license authority or limitation on premiums written
    • This entry was published on 2014-09-22
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    SECTION 1103

    Duration of licenses

    Insurance (ISC) CHAPTER 28, ARTICLE 11

    § 1103. Duration of licenses. (a) Every license issued to a domestic
    insurer shall be for an indefinite term and shall expire with the
    expiration or termination of its corporate existence.

    (b) Every license, including every renewal license, issued to a
    foreign or alien insurer shall be for a term expiring on June thirtieth
    following the date of issuance, except that at any time after a licensed
    foreign or alien insurer has filed its annual statement pursuant to
    section three hundred seven of this chapter the superintendent may issue
    to such insurer a renewal license for the next year.