Sec. 38a-43. (Formerly Sec. 38-22). Foreign and alien insurance companies may be prohibited from transacting business in this state.
Sec. 38a-43. (Formerly Sec. 38-22). Foreign and alien insurance companies
may be prohibited from transacting business in this state. Whenever it appears to
the commissioner that permission to transact business within any state of the United
States or within any foreign country has been refused to any domestic insurance company
after a certificate of the solvency and good management of such company has been issued
to it by the commissioner and after such company has complied with any reasonable
laws of such state or foreign country requiring deposits of money or securities with the
government of such state or country, the commissioner may immediately cancel the
authority of each company organized under the laws of such state or foreign government
and licensed to do business in this state and may refuse a certificate of authority to each
such company thereafter applying for authority to do business in this state, until the
commissioner's certificate has been recognized by the government of such state or
country.
(1949 Rev., S. 6053; P.A. 04-10, S. 2.)
History: Sec. 38-22 transferred to Sec. 38a-43 in 1991; P.A. 04-10 made technical changes.
Annotation to former section 38-22:
Cited. 122 C. 295.