Section 4-109 - Issuance or disapproval of initial certificate of authority.
§ 4-109. Issuance or disapproval of initial certificate of authority.
(a) In general.- Within a reasonable time after the filing of a completed application for an initial certificate of authority, the Commissioner shall:
(1) issue an appropriate certificate of authority; or
(2) disapprove the application and state the grounds for disapproval.
(b) Limited certificate of authority.- On request of an insurer, the Commissioner may issue a certificate of authority limited to a particular type of insurance or insurance coverage within the scope of a kind of insurance.
[An. Code 1957, art. 48A, § 53; 1995, ch. 36.]