§ 20-201 – “Alien” insurer defined
20-201. " Alien" insurer defined An " alien" insurer is one formed under the laws of a country other than the United States.
§ 20-202 – “Charter” defined
20-202. " Charter" defined " Charter" means articles of incorporation, of agreement or of association, or other basic constituent document of a corporation, or subscribers’ agreement and power of attorney of a reciprocal insurer.
§ 20-202.01 – Stock insurer’s initial free surplus defined
20-202.01. Stock insurer’s initial free surplus defined Initial free surplus of a stock insurer is the minimum amount of investment required for the lines authorized over and above the minimum required capital stock.
§ 20-202.02 – Mutual insurer’s minimum required basic surplus defined
20-202.02. Mutual insurer’s minimum required basic surplus defined A mutual insurer’s minimum required basic surplus is defined as the minimum requirement deposited with the state treasurer through the director’s office to qualify for the lines of insurance authorized to be written.
§ 20-202.03 – Mutual insurer’s initial free surplus defined
20-202.03. Mutual insurer’s initial free surplus defined A mutual insurer’s initial free surplus is defined as the minimum additional assets required of a mutual insurer over and above the minimum required basic surplus for the lines of insurance authorized to be written.
§ 20-202.04 – Reciprocal insurer’s required basic surplus defined
20-202.04. Reciprocal insurer’s required basic surplus defined A reciprocal insurer’s required basic surplus is defined as the minimum requirement deposited with the state treasurer through the director’s office to qualify for the lines of insurance authorized to be written.
§ 20-202.05 – Reciprocal insurer’s initial free surplus defined
20-202.05. Reciprocal insurer’s initial free surplus defined A reciprocal insurer’s initial free surplus is defined as the minimum additional assets required of a reciprocal insurer over and above the minimum required basic surplus for the lines of insurance authorized to be written.
§ 20-203 – “Domestic” insurer defined
20-203. " Domestic" insurer defined A " domestic" insurer is one formed under the laws of this state.
§ 20-204 – “Foreign” insurer defined
20-204. " Foreign" insurer defined A " foreign" insurer is one formed under the laws of another state of the United States.
§ 20-205 – “State,” “United States” defined
20-205. " State, " " United States" defined " State" means any state, commonwealth or territory of the United States, including the District of Columbia, and " United States" includes the states, territories, districts and commonwealths thereof.
§ 20-206 – Authority to transact insurance
20-206. Authority to transact insurance A. No person shall act as an insurer and no insurer shall transact insurance in this state except as authorized by a subsisting authority granted to it by the director, except as to such transactions as are expressly otherwise provided for in this title. No such authority shall be required […]
§ 20-207 – General qualifications to transact insurance
20-207. General qualifications to transact insurance To qualify for and hold authority to transact insurance in this state an insurer shall be otherwise in compliance with the provisions of this title and with its charter powers, and shall be an incorporated stock insurer, an incorporated mutual insurer, a reciprocal insurer, or a Lloyd’s association of […]
§ 20-208 – Definition of guaranteed investment contract
20-208. Definition of guaranteed investment contract In this title, unless the context otherwise requires, " guaranteed investment contract" means any unallocated group contract, investment contract, funding agreement, guaranteed interest contract or other similar instrument by whatever name in which an insurance company agrees to guarantee a fixed or variable rate of interest or a future […]
§ 20-209 – Kinds of insurance an insurer may transact
20-209. Kinds of insurance an insurer may transact A. An insurer which otherwise qualifies therefor may be authorized to transact any one kind or combination of kinds of insurance as defined in article 2 of this chapter, except that: 1. A life insurer shall not be authorized to transact any other kind of insurance except […]
§ 20-210 – Minimum required capital stock or basic surplus
20-210. Minimum required capital stock or basic surplus A. Except as provided in subsection B, to qualify for authority to transact any one kind of insurance or combinations of kinds of insurance as shown below, an insurer shall possess and thereafter maintain unimpaired minimum required capital stock, if a stock insurer, or unimpaired minimum required […]
§ 20-211 – Surplus required
20-211. Surplus required A. In addition to the minimum required capital stock, if a stock insurer, or minimum required basic surplus, if mutual or reciprocal insurers, as required by sections 20-210 and 20-212 as to all stock insurers and foreign and alien mutual and reciprocal insurers, by sections 20-768 and 20-212 as to domestic reciprocal […]
§ 20-212 – Funds required to transact additional kinds of insurance
20-212. Funds required to transact additional kinds of insurance An insurer otherwise qualified may be authorized to transact combinations of kinds of insurance, other than the life and disability combination shown in section 20-210, while possessing and maintaining thereafter additional minimum required capital stock, if a stock insurer, or additional minimum required basic surplus, if […]
§ 20-213 – Deposit requirements
20-213. Deposit requirements The director shall not issue a certificate of authority to any insurer unless it has deposited in trust with the state treasurer through the director’s office cash or securities eligible for the investment of capital funds of domestic insurers under this title in an amount not less than the minimum required capital […]
§ 20-214 – Financial requirements; escalator provisions
20-214. Financial requirements; escalator provisions If with respect to an insurer lawfully authorized to transact insurance in this state immediately prior to the effective date of this section, this title requires a greater amount of capital, surplus or deposit than required of such insurer immediately prior to such effective date, such insurer shall have a […]
§ 20-215 – Application for certificate of authority
20-215. Application for certificate of authority To apply for an original certificate of authority an insurer shall file with the director its application for a certificate of authority showing its name, location of its home office or principal office in the United States, if an alien insurer, kinds of insurance to be transacted, date of […]