ยง 4119. Foreign and alien companies; license qualification. No foreign
or alien property/casualty insurance company shall be licensed to do
business in this state unless it shall have continuously transacted an
insurance business in the state or country of its incorporation for at
least three years immediately prior to the issuance of such license. The
superintendent may waive or reduce the three year requirement, with
respect to a license applicant, upon determination that the three year
period is not necessary to safeguard the interests of the public or
policyholders.
Structure New York Laws
Article 41 - Property/casualty Insurance Companies
4103 - Stock Companies; Financial Requirements.
4105 - Domestic Stock Companies; Declaration and Payment of Dividends.
4106 - Stock Companies; Participating Policies.
4107 - Domestic Mutual Companies; Financial and Other Requirements.
4108 - Foreign and Alien Mutual Companies; Licensing.
4109 - Mutual Companies; Special Contingent Surplus.
4110 - Domestic Mutual Companies; Expense Limits.
4111 - Mutual Companies; Assessments.
4112 - Mutual Companies; Protection Against Assessments.
4113 - Mutual Companies; Non-Assessable Policies.
4114 - Mutual Companies; Dividends.
4115 - Certain Mutual Companies Existing Prior to January First, Nineteen Hundred Forty.
4116 - Domestic Mutual Companies; Voting Rights of Members.
4117 - Loss and Loss Expense Reserves.
4118 - Limitation of Risks; Fidelity and Surety; Fire; Hospital Mutuals.
4119 - Foreign and Alien Companies; License Qualification.
4121 - Security May Be Required From Banking Officers and Employees.