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This entry was published on 2014-09-22
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SECTION 1107
Licenses for unincorporated insurers
Insurance (ISC) CHAPTER 28, ARTICLE 11
§ 1107. Licenses for unincorporated insurers. (a) No individual shall
be or remain licensed to write fidelity and surety insurance who, in any
court of this state having criminal jurisdiction or in any criminal
action or proceeding, deposits money or property as bail for another or
executes as surety any bail bond.

(b) No individual shall be or remain licensed to do an insurance
business, as an insurer unless he is a resident of this state, complies
with all requirements of this chapter as to capital, surplus, reserves,
liabilities, investments, deposits and other financial requirements
imposed upon insurers doing the same kinds of insurance business,
confines his business exclusively to such insurance business and
business authorized pursuant to the provisions of this chapter as
incidental thereto, and in all respects conforms to all requirements
imposed upon such insurance companies, except as to corporate existence
and requirements incidental thereto. No individual insurer shall do
business under a corporate or fictitious name or under any name, style
or title other than the true name of such individual.

(c) This section shall not affect the authority to do an insurance
business conferred upon a reciprocal insurer or Lloyds underwriters
pursuant to article sixty-one of this chapter.