No domestic insurer shall enter into any contract of insurance upon the life or person
of a resident of a reciprocal state, or covering property or risks located in a reciprocal
state, unless the insurer is authorized pursuant to the laws of such reciprocal state
to do business therein, except that a domestic insurer may:
(a) Enter into a contract when the prospective insured is personally present in the
state in which the insurer is authorized to do business when he signs the application;
(b) Issue a certificate under any lawfully transacted group life or group disability
policy, when the master policy is entered into in a state in which the insurer is
authorized to do business;
(c) Make a contract pursuant to a pension or retirement plan of an employer when such
contract is applied for in a state where the employer is personally present or doing
business and the insurer is authorized to do business; and
(d) Renew, reinstate, convert, or continue in force, with or without modification,
any contract otherwise lawfully entered into and which was not originally entered
into in violation of this section.
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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