The purpose of the Unauthorized Insurers Act is to subject certain insurers to the
jurisdiction of the Department of Insurance and the courts of this state in administrative
proceedings and in suits by or on behalf of the state. The Legislature declares that it is concerned with the protection of residents of
this state against acts by insurers not authorized to do an insurance business in
this state, by the maintenance of fair and honest insurance markets, by protecting
authorized insurers which are subject to regulation from unfair competition by unauthorized
insurers, and by protecting against the evasion of the insurance regulatory laws of
this state. In furtherance of such state interest, the Legislature exercises its powers to protect
residents of this state and to define what constitutes transacting an insurance business
in this state and also exercises powers and privileges available to this state by
virtue of Public Law 79-15, 79th Congress of the United States, Chapter 20, 1st Session, S. 340, 59 Stat. 33;
15 U.S.C. 1011 to 1015 inclusive, as amended, which declares that the business of insurance and every person
engaged therein shall be subject to the laws of the several states.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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