§431:3-203.5 Foreign insurer; certification. (a) Notwithstanding section 431:3-203 or any other law to the contrary in this code, the commissioner shall grant a certificate of authority to any applicant, regardless of the number of previous years experience in the business of insurance, that is an insurer licensed under the insurance laws of one of not fewer than three states annually designated, or redesignated, by the commissioner from among the states that are accredited by the National Association of Insurance Commissioners. The loss of accreditation by a state designated by the commissioner shall not in itself affect the validity of a previously issued certificate of authority by the commissioner to a foreign insurer licensed under the insurance laws of the previously accredited state. Nor shall the commissioner's de-selection of a state affect the validity of a previously issued certificate of authority to a foreign insurer licensed by that state.
(b) The commissioner may waive the filing of any document required to be submitted under section 431:3-212.
(c) Nothing in this section shall limit the commissioner's authority to require a foreign insurer to proceed with the certification process under this article if the commissioner, at the commissioner's discretion, determines that it would be in the public interest. [L 1995, c 129, §1; am L 1997, c 36, §1; am L 1998, c 2, §100; am L 2004, c 122, §8]
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